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File: Arrowstar - DEBT NR May16 Final.docx

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Suite 2300-1177 West Hastings Street, Telephone 604-687-7828
Vancouver, British Columbia Facsimile 604-408-7499
V6E 2K3   Canada 
www.arrowstarresources.com direct: +1 747 200 9412
 ARROWSTAR COMPLETES DEBT SETTLEMENT

Vancouver, B.C. - May 16, 2016 - Arrowstar Resources Ltd ("Arrowstar" or the "Company") (TSX.V: AWS) is pleased to ann
--->ounce that, on May 16, 2016, it closed the settlement of $750,390 in debt due to creditors. The Company issued 4,060,0
--->00 common shares at a deemed price of $0.05 to settle $698,245 in debt and paid $4,500 in cash to settle $51,145 in de
--->bt. The common shares issued have a hold period expiring on September 16, 2016.  


On Behalf of the Board of Directors,
Arrowstar Resources Ltd.

"Phillip Thomas"

President
Investor Contact: 
Phillip Thomas 604-687-7828, 747-200-9412
info@arrowstarresources.com
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 in North America and other statements th
--->at are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "int
--->end," "may," "potential," "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 unce
--->rtainties 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.