Mr. Joseph Grosso reports

GOLDEN ARROW COMPLETES OPTION PAYMENTS FOR CHINCHILLAS SILVER PROJECT

Golden Arrow Resources Corp. has completed the option payments required to acquire 100 per cent of the Chinchillas silver project in Jujuy province, Argentina.

Chinchillas option terms

Golden Arrow made the final payment of $900,000 (U.S.) to complete the acquisition of the Chinchillas project from the vendors on July 22, 2015.

"We are very proud to have secured the Chinchillas project by making our final option payment to the vendors. It shows our commitment to the project, our shareholders and the community that we continue to advance the project in these difficult financial times by meeting our commitments on time," commented Golden Arrow president and chief executive officer, Joseph Grosso.

Management is very pleased to have been able to complete the acquisition of Chinchillas after having financed the aggressive advancement of Chinchillas both though private placements and alternative strategies such as shares-for-services agreements. The result for Golden Arrow shareholders has been an increase in share value by 15 per cent over the last year, with an increase in market capitalization of over 60 per cent, while the S&P/TSX Venture Exchange Composite Index has declined by over 35 per cent.

Moving forward, management plans to continue to advance Chinchillas along the path to feasibility. Fiscal strategies will continue to include alternative financing arrangements, as well as the pursuit of strategic partnerships.

We seek Safe Harbor.