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File: NR120628 - Rannie Lake press release.doc

 

Suite 507 - 475 Howe Street,	Telephone 604-687-7828
Vancouver, British Columbia	Facsimile 604-687-7848
V6C 2B3  Canada	email: arrowstarresources@shaw.ca


NEWS 	TSX.V: AWS
For Immediate Release


Arrowstar Proposed Ground Geophysics Program on
Rannie Lake, Labrador Iron Ore Property 
Vancouver, B.C. - June 28, 2012 - Arrowstar Resources Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is preparing i
--->ts exploration program on the Company's Rannie Lake project in Labrador, Canada.  Desk top research of the available d
--->ata has been concluded.

The property covers some 4,300 hectares and it is noted that outcrop is sparse and undergrowth is prolific.  A detaile
--->d ground based geophysics and sampling study is being considered in July 2012 subject to environmental approvals, weat
--->her, ground condition and resource availability.   Rannie Lake is an important iron ore property, consisting of 172 cl
--->aims in a major magnetite-rich zone, in the Sokomon Iron Formation, in the Labrador Trough. Rannie Lake has strategic 
--->importance similar to Arrowstar's Roberts Lake project. It is surrounded by large properties owned by Altius Minerals 
--->Corp. (TSXV: ALS) in partnership with Rio Tinto.

An aeromagnetic survey was completed in 2001 by Terraquest on behalf of the Iron Ore Company of Canada. Its purpose wa
--->s to further define the extension of the Sokoman Formation containing the only magnetic rocks in the area between Ferm
--->ont and Rannie Lake utilizing high-resolution magnetic data. The Arrowstar exploration team will conduct a ground surv
--->ey and take grab samples where possible for geochemical analysis and also structural geological observations.

Typical of the Knob Lake Range, Schefferville area, there are soft iron ores (direct shipping ore) composed of friable
---> fine-grained secondary iron oxides - hematite, goethite, limonite - formed by supergene leaching and enrichment of th
--->e weakly metamorphosed cherty iron formation. Magnetite iron formation or taconite, fine grained, weakly metamorphosed
---> iron formations comprised of magnetite-specularite with above average magnetite content are also evident. 

Metataconite, characteristic of the south section, Labrador West and eastern Quebec, is intensely metamorphosed iron f
--->ormation containing recrystallized coarse-grained magnetite and hematite. Refolded iron formations attain several hund
--->reds of metres in structural thickness and iron oxides tend to concentrate in fold hinges; deposits reach hundreds of 
--->millions tonnes grading 25 to 45% iron. The iron ore is easy to separate from its gangue minerals and produces, by gra
--->vity or magnetic separation, a high-grade iron concentrate of 66%Fe and above.
The Company's objective initially for Rannie Lake is to identify one or more bona fide iron-oxide targets, either taco
--->nite or meta-taconite, that may exist on the property.  Some work on historical structural interpretation has been com
--->pleted however parameters such as thickness, grade, and magnetic susceptibility, alteration of the magnetite and other
---> factors need to be determined. Geophysical and geological mapping surveys for target validation and outline are requi
--->red to provide a better understand and evaluate  the oxide-rich horizon for an ensuing drilling program.  Rannie Lake 
--->is an early-stage exploration property and may host a Lake Superior-type iron formation target. 
Phillip Thomas, BSc, MBus, MAIG, a Qualified Person under NI 43-101, has reviewed the content of this release.
 
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.

"Robert L. Card"

Robert L. Card
President

Investor Contact	Robert L. Card
	604-687-7828 
	arrowstarresources@shaw.ca
	www.arrowstarresources.com

		
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies    of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."


Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but
---> are not limited to, statements concerning AWS's planned exploration programs and other statements that are not histor
--->ical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "pot
--->ential," "should," and similar expressions are forward-looking statements. Although AWS believes that its expectations
---> reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no 
--->assurance can be given that actual results will be consistent with these forward-looking statements. Important factors
---> that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk
---> Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.