Mr. Joseph Grosso reports

GOLDEN ARROW INCREASES NON-BROKERED PRIVATE PLACEMENT TO $1.5M

Due to high investor demand, Golden Arrow Resources Corp. has increased the private placement amount announced on Dec. 15, 2014, from $1.0-million to $1.5-million.

"The overwhelming interest in our financing is clearly recognition of the value and quality of our Chinchillas project," stated Joseph Grosso, president and chief executive officer. "The funds will be used for working capital and to continue our current expansion of the project."

The financing will be by way of non-brokered private placement of up to 7.5 million units at a price of 20 cents per unit, subject to regulatory approval. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at a price of 25 cents for two years. Golden Arrow can accelerate the warrant exercise if Golden Arrow's 15-day volume-weighted average stock price trades 35 cents or higher. Directors, officers and employees of the company may participate in a portion of the offering.

The proceeds of this financing will be used to advance exploration for the company's flagship Chinchillas silver project and for general working capital. This financing is subject to regulatory approval, and the placement securities will be issued subject to a four-month hold period.

The company may pay finders' fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange.