Golden Arrow Resources Corporation reported results for the remaining six holes of the 4,000 metre Phase 1 drilling program at the Company's San Pietro Iron- Copper-Gold-Cobalt Project in Chile. All six holes reported herein are from the Rincones target, which is the most advanced target and the focus of the Company's first resource delineation plan for the project. The 6 holes drilled in Rincones successfully validated the geological model described previously and in all cases they encountered Cu-Co-Au-Fe mineralization.

Holes SP-DDH-07 and -12 confirmed the presence of wide mineralized packages close to surface below 10 to 15 metres of alluvium cover, providing confidence for conducting new exploration at covered targets. Rincones remains the most advanced target of the project and based on the Company's work and interpretation it appears that mineralization is open in all directions. With the information collected from this program, a new 3D geological model is being constructed which will help to define priority targets for the next drilling phase.

Hole SP-DDH-12 was drilled into the sparsely tested central part of the Rincones target area and tested the depth extent of a newly mapped copper-bearing magnetite outcrop. Results are highlighted by: 64.2 m @ 0.86% Cu, 0.20 g/t Au, 196 g/t Co and 25.9% Fe starting at 42.8m depth, and. 75.0 m @ 0.23% Cu, 0.03 g/t Au and 67 g/t Co starting at 243 m depth, followed by a short high-grade Co-Fe interval of 3.3 m @ 0.22% Cu, 0.05g/t Au, 333 g/t Co and 33.37% Fe.

Hole SP-DDH -05, drilled 300 metres southwest of SP-DDH-12 in the southern Rincones area, returned: 79.8m @ 0.29% Cu, 0.05 g/t Au and 179g/t Co, including 15.3m @ 0.64% Cu, 0.10 g/t Au and 388g/t Co at 272.1m depth. The San Pietro Project is hosted by andesite units in a Cretaceous-aged 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 iron-oxide, copper, gold ("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. Within the 180km2 land package, the Company is focused on the Rincones advanced exploration target for completing an initial mineral resource estimate.

This target formed the core of the historic work, with 46 widely spaced holes drilled in an area of approximately 2.6 by 1.6 kilometres, resulting in numerous intervals with significant copper, gold and cobalt*. The historic drill holes were roughly split into a north and south grouping, with a central area that had seen minimal drilling.