VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Golden Arrow Resources
Corporation (TSX-V:GRG) (FSE:GAC) (OTCQB:GARWF), “Golden Arrow” or the “Company”) is pleased to announce
the initiation of a US$1M exploration program at its 100% owned Pescado Gold Project (“Pescado” or “the Project) in San Juan
province, Argentina. San Juan hosts several world-class mines and deposits, including the Gualcamayo gold mine which is
situated approximately 10 kilometres to the north of Pescado. Golden Arrow’s management were involved in the discovery of the
Gualcamayo gold deposit.
The Project has two principal gold target areas where large intrusive bodies intersect with major regional
faults. Previous work identified high grade gold mineralization in these areas, including 17.6 g/t gold in outcrop
samples1. The exploration program will include additional geophysics and surface work to refine drill targets, with up
to 1,800 metres of drilling budgeted. Work permits have been granted by the provincial mining authorities, and the technical
team is now commencing exploration at the Yanso target area.
“The Pescado Project has the attributes needed for making a significant discovery, including proximity to
existing deposits, size, accessibility, and known mineralization in a positive geologic setting,” commented Brian McEwen,
Golden Arrow’s Vice President of Exploration and Development. “We look forward to advancing our knowledge of the property and
bringing it to a drilling stage.”
About the Pescado Project
The 19,784 hectare Pescado Project is 100% owned by Golden Arrow. Pescado is situated in the Pre-Cordillera
region, at elevations ranging from 1500 metres to 2500 metres above sea level. Gold mineralization at the Project is hosted
by structural zones within Tertiary intrusive bodies in close proximity to Paleozoic sediments. Detailed airborne magnetic surveys
have identified two large intrusive bodies at the intersections of major regional faults within the Project boundaries. Strong gold
geochemical anomalies coincident with the magnetic anomalies characterize the Yanso and Pescado targets. Outcrop sampling returned
up to 17.6 g/t gold at Pescado and at Yanso, chip channel sampling returned 38 metres averaging 0.58 g/t gold. The property is road
accessible and exploration can be conducted year round.
Qualified Persons
Brian McEwen, P.Geol., VP Exploration and Development to the Company is a Qualified Person as defined in
National Instrument 43-101, and has reviewed and approved the contents of the news release.
About Golden Arrow:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a
successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional
deposits. Golden Arrow owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of
forecast production and upside potential at the Pirquitas -Chinchillas silver mining project. Golden Arrow is actively
exploring on its more than 200,000 hectares of properties in Argentina.
The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in
Argentina since 1993.
1 See Golden Arrow news release dated February 19, 2008, filed on SEDAR.
ON BEHALF OF THE BOARD
“Joseph Grosso”
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenarrowresources.com
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently
anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed
discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise
any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information
of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not
indicative of mineral deposits on our properties.
