The Gualcamayo Project

The Gualcamayo region is located along the northern border of San Juan province, Argentina. The district has a rich history of mining and the relatively low elevations and easy access make year-round exploration feasible.

Golden Arrow holds a 1% NSR on the Company's former interest of properties sold to Viceroy, which is now Yamana Gold, including the Gualcamayo gold discovery. At Gualcamayo, the main Quebrada del Diablo (QDD) zone currently contains a measured and indicated resource of 2,284,400 oz. gold, and an additional 698,00 oz. gold are classified as inferred. Yamana continues to have exploration success and is working to rapidly advance the Gualcamayo discovery. which is expected to be in production by Q3 2008.

Golden Arrow also holds over 25,000 hectares of properties that lie immediately to the south and southwest of Yamana's deposits and along a similar geological and structural setting.