Oct 19, 2010
Golden Arrow Announces Receives Funds from the Exercise of Warrants
Golden Arrow Resources Corporation (TSX.V: GRG) ("Golden Arrow" or "the Company") has received $1,933,200 from 5,445,000 warrants exercised as of October 18, 2010. The Company is pleased with the confidence in the Company that the shareholders have expressed by exercising these warrants. Of the 5,445,000 warrants exercised 5,245,000 had an expiry date of October 18, 2010, and 200,000 on January 9, 2011.
The Company currently has in excess of $2.75 million in cash to fund its exploration programs. The Company continues to benefit from the impact of increasing gold prices on its 1% NSR on Yamana Gold Corp.'s Gualcamayo Gold mine in San Juan Argentina. The Company will receive its third quarter NSR payment from Yamana on or about November 1, 2010.
About Golden Arrow Resources Corporation
Golden Arrow Resources Corporation (TSX.V: GRG) is a Vancouver-based, explorer and prospect generator focused on advancing, identifying and acquiring precious and base metal projects in Argentina with the goal of achieving a world class discovery.
Golden Arrow is well positioned for shareholder value growth with royalty income from its 1% NSR on Yamana Gold Corp.'s Gualcamayo Gold mine in San Juan Argentina, which has paid the Company US$ 1,878,700 over the past 22 months, in addition to an attractive portfolio of highly prospective exploration projects, a pipeline of new opportunities under review and only 41.2 million shares issued and outstanding. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its portfolio of high quality mineral projects. Golden Arrow is a member of the Grosso Group, a management company specializing in resource exploration for over 17 years.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & C.E.O.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or 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. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
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