VANCOUVER, Dec. 6, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources
Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), reports that the
Company has decided to return the Rannie Lake, Labrador property to the Vendor.
Arrowstar acquired an option on the Rannie Lake property a year
ago. (Aug 22, 2011 - Gulfside
Acquires Three Iron Ore Projects).
The Arrowstar team conducted preliminary
investigations of the Rannie Lake property but decided that the
Company's resources and efforts could be used to greater advantage
on the Company's Snettisham Iron Ore project located 30 miles SE of
Juneau Alaska.
Robert L. Card,
President and C.E.O. of the Company commented: "We are very focused
on further development of our Alaska iron property. The work done in
2012 indicates a very favorable project. The Company will be
concentrating on this project in the coming year."
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L.
Card
President
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release."
Forward-Looking Statements: This document
includes forward-looking statements. Forward-looking statements
include, but are not limited to, statements concerning AWS's
planned exploration programs and other statements that are not
historical facts. When used in this document, the words such as
"could," "plan," "estimate," "expect," "intend," "may,"
"potential," "should," and similar expressions are forward-looking
statements. Although AWS believes that its expectations reflected
in these forward looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that
actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to
differ from these forward-looking statements are disclosed under
the heading "Risk Factors" and elsewhere in the corporation's
periodic filings with Canadian securities regulators.
SOURCE Arrowstar Resources Ltd.