Jan 11, 2011
Golden Arrow Receives Over $1 Million from the Exercise of Warrants
Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC, WKN: A0B6XQ, "Golden Arrow" or "the Company") has received $1,075,050 from the exercise of 4,754,000 warrants as of January 10, 2011. Of the 4,754,000 warrants exercised, 4,714,000 had an expiry date of January 9, 2011 and 40,000 on January 31, 2011. Insiders of the Company exercised all of their warrants, which represent a significant portion of the total.
The exercise of these warrants brings Golden Arrow's treasury balance to more than $4.7 million, which will receive a further injection on January 31, 2011 from its quarterly NSR payment from Yamana Gold Inc. The Company is well funded as it prepares to drill its 100% owned Potrerillos project located in San Juan, Argentina, and other exploration programs.
About Golden Arrow:
Golden Arrow 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. The Company is well positioned for growth of shareholder value with a royalty income from its 1% NSR on Yamana Gold Corp.'s Gualcamayo Gold mine in San Juan Argentina, which has paid the Company US$2,310,672 over the past 21 months, a joint-venture with Vale on two properties, an attractive portfolio of highly prospective exploration projects and a pipeline of new opportunities under review. 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 with over 18 years of experience in South America.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & CEO
For further information please contact:
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.
You can view the Next News Releases item: Mon Jan 24, 2011, Golden Arrow Defines Large Resistivity Targets Beneath Surface Gold-Silver Veins at Potrerillos Project, San Juan Province, Argentina
You can view the Previous News Releases item: Mon Jan 10, 2011, Surface Mineralization Expanded at Golden Arrow's Potrerillos Project, San Juan, Argentina; Drill Targets Established
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