Golden Arrow Resources Corporation announced that a new diamond drilling program has commenced at the Company's San Pietro Iron-Copper-Gold-Cobalt Project in Chile. The 2,650-metre, 7-hole program is the first stage of up to 20,000 metres of drilling budgeted for the year to advance at least five targets at the project. Historic exploration at the Project included over 34,000 metres of drilling in 83 holes concentrated mainly at four targets with iron-oxide, copper, gold ("IOCG") and cobalt mineralization: Rincones, Colla, Rodeo and Radiss Norte.

In the last seven months, Golden Arrow has modernized and added to the database to refine the targets for additional drilling. This work included detailed (1:2,000 scale) mapping covering more than 10km2 at Rincones and Colla, plus surface sampling, relogging of the most significant drillholes, a re-assessment of the historic geophysical surveys and a 3D IP/resistivity survey at the Colla target. In the process, the field team also added a fifth zone, Mariposa, to the list of priority targets.

The first phase of drilling will test several new interpretations that resulted from the recent field programs to fine-tune the targeting for the subsequent holes. Project & Program Details The San Pietro Project is hosted by andesite units in a Cretaceous volcano-sedimentary sequence associated with intrusive rocks including granodiorites and diorites of similar age. The Project is located east of the Atacama Fault system, a major north-south regional structure, which was instrumental in controlling the emplacement of the ore deposits in the area.

Mineralization at San Pietro is typical of an IOCG system, with the addition of cobalt, and occurs in breccias, veins and mantos within a zone of K-feldspar-chlorite alteration. These structures are rich in magnetite and specularite and in some cases calcite and are mainly developed along NW-SE lineaments. Rincones Target The Rincones target was the focus of historic work, with 47 of the 83 historic holes drilled here.

There was limited previous surface sampling due to extensive cover, and mapping was previously only completed at a property scale. The drilling returned numerous intervals with significant copper, gold and cobalt, such as 1.20% Cu, 0.21g/t Au, and 579ppm Co over 34 m starting at 370 m downhole in RADH-02. The drill core logging had interpreted a series of overlapping mineralized mantos that dip gently to the north.