Mr. Joseph Grosso reports

GOLDEN ARROW CLOSES NON-BROKERED PRIVATE PLACEMENT

Golden Arrow Resources Corp. has closed the non-brokered private placement financing, as announced on Jan. 19, 2024, and increased on Feb. 6, 2024, through the issuance of one million units at a subscription price of five cents per unit in this second and final tranche for aggregate gross proceeds to the company of $50,000. In total, the company has closed on 17.89 million units for aggregate gross proceeds of $894,500.

Each unit consists of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 10 cents per share for three years from the date of issue expiring on March 15, 2027.

In total, finder's fees of $23,940 were paid in cash on a portion of the private placement to parties at arm's length to the company. In addition, 478,800 non-transferable finder's warrants were issued. Each finder's warrant entitling a finder to purchase one common share at a price of 10 cents per share for three years from the date of issue, expiring on March 15, 2027.

Certain insiders of the company participated in the private placement for $62,500 in units. Such participation represents a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25 per cent of the company's market capitalization.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing in this second and final tranche are subject to a four-month hold period under applicable Canadian securities laws expiring on July 15, 2024. The proceeds of the offering will be used for general working capital and exploration on its properties in Argentina.

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.

We seek Safe Harbor.