Received by email:

File: AWS NR 2016-06-21 PP Prop close final.docx

/

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


ARROWSTAR CLOSES ASSIGNMENT AGREEMENT AND PRIVATE PLACEMENT

Vancouver, B.C. - June 21, 2016 - Phillip Thomas, President of Arrowstar Resources Ltd. ("Arrowstar" or the "Company")
---> (TSX.V: AWS), is pleased to announce that the Company has received approval from the TSX Venture Exchange ("TSX-V") o
--->n the assignment agreement dated March 29, 2016 (the "Agreement") between the Company and Performance Acquisitions, LL
--->C ("Performance") under which Performance has assigned its interest in an option agreement with NJB Mining Inc. ("NJB"
--->) under which Performance has the option (the "Option") to acquire up to a 100% interest in the Tin Cup and FM (Secret
---> Pass) concessions (together, the "Property") from NJB (the "Transaction"). 

As consideration for the assignment of the Option, the Company will issue an aggregate of 5,000,000 common shares of t
--->he Company to Performance as follows:
1,500,000 common shares upon receipt by the Company of TSX-V approval of the Transaction.
1,000,000 common shares upon completion of Phase 1 exploration requirements.
1,000,000 common shares upon completion of Phase 2 exploration requirements.
1,500,000 common shares within 14 days of the earlier of the 18-month anniversary of the date of the Agreement, being 
--->March 29, 2016 or the approval from the Arizona Bureau of Land Management of the production plan to commence mining an
--->d production.

Phil Thomas, Arrowstar's President and Chief Geologist states, "We are very pleased to have completed the acquisition 
--->of the Secret Pass concessions. The project is well advanced to potentially be fast tracked to production when quality
---> control of data, trenching and project economics is completed."

The Company has also closed its non-brokered private placement (the "Offering") announced on April 19, 2016.  The Comp
--->any issued 6,900,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of $345,000.  Each Unit consists 
--->of one common share and one share purchase warrant ("Warrant Share") entitling the holder to purchase an additional co
--->mmon share for a period of two years at a price of $0.085 per warrant share in the first year of exercise and $0.12 pe
--->r warrant share in the second year of exercise from date of closing. The Company will pay a finder's fee in the amount
---> of $6,400.

The securities issued pursuant to the Agreement and the Offering will be subject to a four month hold period, expiring
---> on October 21, 2016, in accordance with applicable securities laws.  

The proceeds from the Offering will be used for phase 1 Secret Pass exploration program and general working capital.

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

"Phillip Thomas"
President


Investor Contact:
604-687-7828
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.