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NEWS RELEASE - April 16, 2013




Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") announces that the Company will loan to Mr. Carlos Fernandez Mazzi, President and CEO, sufficient funds for Mr. Fernandez to purchase 750,000 Units of Golden Arrow, pursuant to a private placement, at the price of $0.30 per Unit. Each Unit will consist of one common share of Golden Arrow and one non-transferable share purchase warrant. Each whole warrant will entitle Mr. Fernandez to purchase one additional common share of Golden Arrow for a period of 24 months at the price of $0.37 per common share. The loan will be non-interest bearing unless there is a default in repayment, and will be secured by a first priority charge and security interest over the Units acquired by Mr. Fernandez. This loan and private placement are subject to acceptance for filing by the TSX Venture Exchange. The Company's recent share buy-back of 13,440,000 shares has reduced the outstanding number of shares and limited the stock option pool available to serve as a long-term incentive. As the Company's healthy treasury precludes any financings at this time, this transaction has been structured primarily for this purpose.




Golden Arrow also announces that it has retained Zoppa Media Group to act as an investor relations consultant to the Company, to assist with corporate finance and investor relations programs. Zoppa Media Group has been engaged for a term of one year at a monthly fee of $4,000. Except for the investor relations services agreement, Zoppa Media does not have any interest, directly or indirectly, in the Company or its securities. Zoppa Media's appointment as an investor relations consultant to Golden Arrow is subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.




About Golden Arrow:




Golden Arrow is a Vancouver-based explorer and prospect generator focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus will be on advancing its flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the Company to drill its Chinchillas Silver Project over the coming months with the aim of publishing the first NI 43-101 resource calculation on Chinchillas in the first half of 2013. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its other high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.




ON BEHALF OF THE BOARD




"Joseph Grosso"




_______________________________




Mr. Joseph Grosso, Executive Chairman




For further information please contact:





Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058




Email: info@goldenarrowresources.com