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(via Thenewswire.ca)



-NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO OR THROUGH US NEWSWIRE SERVICES-




Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") announces that, further to the Company's news release dated April 16, 2013, the Company has received approval from the TSX Venture Exchange to complete the loan to Mr. Carlos Fernandez Mazzi, the Company's President and CEO, to provide 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 consists 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. All securities issued are subject to a minimum four-month hold period pursuant to Canadian securities laws. The loan is 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.




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