| February 01, 2010 Golden Arrow Receives Royalty Payment | |
| Golden Arrow Resources Corporation (GRG -- TSX.V) has received $516,433 (U.S.) as 4th payment of its 1-per-cent net smelter returns royalty (NSR) for the production period October 1st to December 31, 2009 at the Gualcamayo gold mine, located in San Juan, Argentina. Regular quarterly payments will be made on Jan. 31, April 30, July 31 and Oct. 31 of each year for the life of mine, with the next payment scheduled for April 30, 2010. Commercial production at Gualcamayo was achieved on July 1st, 2009. Royalty background In February, 1994, Grosso Group management created Minas Argentinas SA, which accumulated 97,500 hectares of property in highly prospective regions of Argentina, including the 45,000-hectare Gualcamayo project. During 1996 and 1997 two successful phases of exploration drilling were carried out by Minas Argentinas, under the stewardship of Mr. Grosso, which resulted in the initial discovery that has now grown into the producing Gualcamayo gold mine. The Company also reports that it has terminated the option agreement for the Poncha property, located in San Juan Province, Argentina. ON BEHALF OF THE BOARD "Joseph Grosso" Mr. Joseph Grosso, President & C.E.O. For further information please contact the Company at 1-800-901-0058, or 604-687-1828 ext.248, or fax 604-687-1858. The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. 2010 | |
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