Mr. Nikolaos Cacos reports

GOLDEN ARROW APPLIES TO EXTEND WARRANTS

Golden Arrow Resources Corp. has made an application to the TSX Venture Exchange to extend the term of 11,709,357 outstanding share purchase warrants that are set to expire on Sept. 26, 2026, to be extended to March 26, 2027. These warrants were originally issued on Sept. 26, 2023, as part of the units issued under a private placement completed by the company. None of the warrants have been exercised.

The exercise price of the warrants will remain at 15 cents. Each whole warrant, when exercised, will be exchangeable for one common share of the company.

A total of 3,003,000 warrants are held by persons who are related parties of the company. Accordingly, the extension of those warrants constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) and TSX-V Policy 5.9 (Protection of Minority Shareholders in Special Transactions). The company relies on the exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 on the basis that the fair market value of the transaction, insofar as it involves related parties, does not exceed 25 per cent of the company's market capitalization.

The amendment is subject to the approval of the TSX Venture Exchange.

About Golden Arrow Resources Corp.

Golden Arrow is a mineral 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 a portfolio of projects in Chile and Argentina. The company is an affiliated company of the Grosso group, a resource-focused management organization that provides operational support to its affiliated companies as they advance quality resource projects.

We seek Safe Harbor.