Golden Arrow Resources Announces Non-Brokered Private Placement

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Golden Arrow Resources Announces Non-Brokered Private Placement

posted on Nov 26, 2008 07:03AM

Golden Arrow Resources Announces Non-Brokered Private Placement

Nov 26, 2008 (TheNewswire.ca via COMTEX News Network) --

(via Thenewswire.ca)

November 26 2008 - Golden Arrow Resources Corporation (GRG - TSX.V) ("Golden Arrow" (the Company) has arranged a nonâ??brokered private placement of 4,126,670 million units at a price of $0.15 cents per unit, subject to regulatory approval. The proceeds from the financing will be used to maintain the Company's two flagship projects, Poncha in Argentina and Rio Tabaconas in Peru, as well as for general working capital. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of $0.25 cents per share for two years.

This financing is subject to regulatory approval and a four month hold period. A commission may be payable on a portion of this transaction.

The Company is focused in Argentina and Peru in highly prospective mining regions and its Management Team is one of the most experienced in the field today. Golden Arrow has just over 15 million shares issued and outstanding, a 1% NSR on Yamana's Gualcamayo property being put into production early next year.