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Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") announced today that, as a result of a review by the British Columbia Securities Commission ("BCSC"), Golden Arrow is issuing the following news release to clarify its disclosure.


Amended Investor Materials


On October 30, 2014, Golden Arrow announced the results of a preliminary economic assessment for the Chinchillas project ("the PEA"). In certain of its investor materials the Company did not include the following cautionary language ("PEA Cautionary Language") as required by NI 43-101 in regard to the PEA: "The preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized." The Company's investor presentation, fact sheet and website have now been updated to include this PEA Cautionary Language when the results from the PEA are stated, and amended to remove additional statements that maybe be construed as contrary to the nature of a PEA.


On July 22, 2014, Golden Arrow announced that its results from new drilling had allowed the delineation of a new Target Potential on the southern part of the Chinchillas property. A subsequent news release dated August 18, 2014 outlining the Company's plans for the project restated the Target Potential but omitted the cautionary language as required by NI 43-101 ("Target Potential Cautionary Language"). Golden Arrow therefore retracts the statements made in that release in regard to the target potential and restates them as follows, including the Target Potential Cautionary Language: "
The project has many areas that are prospective for discovery, in particular in the Chinchillas South area, where seven holes completed during the recent Phase 3 drilling program intersected wide zones of silver-lead-zinc mineralization. Based on these results, the Company reported on July 22, 2014 that the Chinchillas South area has a target potential of between 100 and 160 million tonnes at grades ranging from 32 to 40 grams per tonne silver equivalent. Target potential grades and quantities are conceptual in nature. There has been insufficient exploration to define a mineral resource, nor is it certain that further exploration will result in the target being delineated as a resource
." The Company's website has also been updated to include the Target Potential Cautionary Language.



The Company has also removed a video interview from the website in which cautionary language was not used when describing the project resources and target potential. Furthermore, an October 29
th
, 2014 article by the Caesars Report that does not report the Company's resources, PEA and target potential in accordance with NI 43-101 standards will no longer be distributed by the Company.


Technical Report to be Amended


On December 3
rd
2014 Golden Arrow filed a Technical Report ("the Report") to support the October 30
th
PEA. Based on comments from the BCSC, the Report is in the process of being amended and a revised version is expected to be filed on SEDAR this week to include the following changes:




1.
The PEA Cautionary Language will be added to sections 1.15, 1.16, 22 and 25 of the Report.




2.
Change of cash flow model results previously designated as "NPV0%" to "undiscounted cash flow".




3.
The Report's sensitivity analysis of NPV to discount rate will be amended to include additional NPV results using a higher discount rate than the 8% case.




4.
When the amended Report is filed, it will be accompanied by amended Certificates of Qualified Persons clarifying which QP's assume responsibility for sections 24, 25 and 26 of the Report.




5.
The Consents of QP's will be corrected to reference the October 30, 2014 news release.




Qualified Person Statement


This news release has been approved by Brian McEwen, Golden Arrow's Vice President Exploration and Development and Qualified Person as defined by National Instrument 43-101.





About Golden
Arrow:


Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. 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"