Golden Arrow Resources Corporation reported additional results from the Phase 1 diamond drilling program at the Company's San Pietro Iron-Copper-Gold-Cobalt Project in Chile, including one hole from each of the Mariposa and Rodeo exploration prospects. The Mariposa target includes several occurrences of specularite veins with visible copper oxide mineralization as well as historic small mine workings, in the northeast corner of the property package. Phase 1 drill hole SP-DDH-08 tested one such occurrence located approximately six kilometres from San Pietro's main Rincones target and approximately 3.5 kilometres from Capstone Copper's Santo Domingo Project resource area.

The occurrence had seen significant trench sampling by previous operators but was previously undrilled. SP-DDH-08 successfully confirmed mineralization at depth, in a structure believed to be the main feeder for mineralization in the immediate area. Several shallow well-mineralized intervals were intersected, including: 19.86m averaging 0.49% Cu, 0.19g/t Au, 575g/t Co and 17.26% Fe at 64.14m depth; Including 6m averaging 1.47% Cu, 0.34g/t Au, 517g/t Co and 15.42% Fe.

The Rodeo target is in the northern part of the project, located 7.5 km northwest of Rincones). This target has one historic hole, RO12DH-005, which intersected 34 metres averaging 1.03% Cu, 334ppm Co starting at 120 m downhole. Phase 1 drill holeSP-DDH-10 successfully confirmed the lateral continuity of the Cu-Co mineralization from the historic hole, cutting a long shallow mineralized interval: 24m averaging 0.34% Cu, 0.04g/t Au, 234 g/t Co and 13.14% Fe The current and historic holes at Rodeo appear to have intersected the same northwest-trending structure that is currently being mined by small-scale local miners on adjacent tenements.

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 locate 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.