Golden Arrow Options Purulla Project

 

VANCOUVER - Golden Arrow Resources Corporation reported that it has entered into an option agreement with a private Argentinean claim owner to earn an undivided 100% interest in the Purulla Porphyry Copper-Molybdenum (Cu-Mo) Project in Catamarca Province, Argentina. The Purulla Project includes two licenses totalling 5,000ha.

The Company believes that a significant untested porphyry Cu-Mo target has been identified at Purulla. The project covers a 1,000m by 300m zone of leached quartz-iron oxide stockwork with intense argillic alteration and anomalous Mo-Cu within a broader zone of alteration. This alteration zonation, along with IP chargeability anomalies identified at depth, are consistent with the presence of a porphyry Cu-Mo system with potential for a significant supergene-enriched Cu zone at depth. The property is drill-ready with permits and targets for a 2010 drill program.

The Company also announced that it has received $343,218 USD from Yamana Gold Inc. for the quarter ended September 30, 2009 for its 1% net smelter returns royalty on Yamana's Gualcamayo gold mine, located in San Juan, Argentina. The next scheduled payment is to be made on January 31, 2010.

The company’s address is Suite 709, 837 West Hastings Street, Vancouver, BC V6C 3N6, 604.687.1828, fax: 604.687.1858, email: [email protected].