Mr. Joseph Grosso reports

GOLDEN ARROW PROVIDES UPDATE ON OPTION AGREEMENT AT THE SAN PIETRO IOCG PROJECT

Golden Arrow Resources Corp. is updating the status of an option granted to Sociedad de Servicios Andinos SpA (SSA) in respect to the San Pietro project located in Chile. As previously announced on Jan. 12, 2024, New Golden Explorations Chile SpA (NGE), a wholly owned subsidiary of the company, granted SSA the option to subscribe for 333 shares in the capital of NGE, equivalent to approximately 25 per cent of the issued and outstanding shares upon exercise of the option, subject to the terms and conditions of an option agreement. SSA is an arm's length party to the company.

The company received conditional approval of the transaction from the TSX Venture Exchange on Jan. 18, 2024. SSA continues to satisfy its obligations to exercise the option, which includes making the first of six bimonthly option payments of $333,333 (U.S.) to NGE on Feb. 8, 2024. Completing the option exercise remains subject to the final approval of the TSX-V and SSA performing the remainder of its obligations under the option agreement, as more particularly described in the initial press release.

About Golden Arrow Resources Corp.

Golden Arrow Resources is a mining exploration company with a successful record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron-oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina. The 100-per-cent-held San Pietro project covers nearly 18,500 hectares, approximately 100 kilometres north of Copiapo in the centre of a potential new copper-cobalt region within an active mining district that is home to all the major iron-oxide-copper-gold (IOCG) deposits in Chile. San Pietro hosts multiple targets with strong IOCG plus cobalt mineralization, and the company is working to delineate its first mineral resource for the project in 2024. The company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

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