Private Placement

. tnw



(via Thenewswire.ca)

Vancouver, BC / T
heNewswire
/ February 24, 2015 /
Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce that the Company has obtained TSX Venture Exchange ("Exchange") approval to issue 420,168 common shares of the Company ("common shares"), at a deemed price of US$2.38 per share, as payment for completion of 9,000 meters of drilling services pursuant to the terms of a shares for services agreement (the "Agreement") (see News Release dated March 10, 2014). The 420,168 issued shares will be escrowed pursuant to the terms of a voluntary escrow agreement, and will be released upon the earlier of the date of completion of the drilling services or the expiry of three years following the date of the Agreement. The 420,168 common shares issued in connection with this payment will also be subject to a four month hold period ending June 18, 2015.


Golden Arrow is also pleased to announce it has received regulatory approval from the TSX Venture Exchange for the Company's private placement of 100,000 units, originally announced January 23, 2015. Each unit is comprised of one common share and one share-purchase warrant. The Company issued 100,000 common shares of the Company at a price of CAD$0.20 per share for gross proceeds of CAD$20,000. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of CAD$0.26 (as amended; previously announced at CAD$0.25) per share for two years from the date of issue. Golden Arrow can accelerate the warrant exercise if Golden Arrow's 15-day volume weighted average share price trades at CAD$0.35 or higher. Securities issued pursuant to this private placement are subject t

o a four-month hold period under applicable Canadian securities laws expiring June 24, 2015. The proceeds of this private placement will be used to advance exploration for the Company's Chinchillas Silver Project and for general working capital.


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"


_______________________________


Mr. Joseph Grosso
Executive Chairman, President, CEO and Director


For further information please contact: Corporate Communications
Tel: 1-604-687-1828 / Toll-Free: 1-800-901-0058 / Email:

info@goldenarrowresources.com