TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture
Market (OTCQB): GARWF
VANCOUVER, BC, April 11,
2024 /CNW/ - Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),
("Golden Arrow" or the "Company") is
pleased to report on the status of the option granted to Sociedad
de Servicios Andinos SpA ("SSA") in respect to the San
Pietro project located in Chile
(the "Transaction"). As previously announced on January 12, 2024 (the "Initial Press
Release"), New Golden Explorations Chile SpA ("NGE"), a
wholly-owned subsidiary of the Company, granted SSA the option (the
"Option") to subscribe for 333 shares in the capital of NGE
(each, a "Share"), equivalent to approximately 25% of the
issued and outstanding Shares upon exercise of the Option, subject
to the terms and conditions of an option agreement (the "Option
Agreement"). SSA is an arm's length party to the Company.
The Company received conditional approval of the Transaction
from the TSX Venture Exchange (the "TSXV") on January 18, 2024. As of today, NGE has received a
total of US$616,817 in cash option
payments from SSA. In addition to the cash option payments, SSA is
responsible for performing drilling services at the San Pietro
project (the "Project") as described in the Initial Press
Release. To that end, SSA has procured a new diamond drilling
rig, as well as other associated equipment and personnel to support
the upcoming drill program. The Golden Arrow and SSA teams
are at the Project making final preparations to commence the new
drilling campaign.
Completing the Option exercise remains subject to the final
approval of the TSXV and SSA performing the remainder of its
obligations under the Option Agreement, as more particularly
described in the Initial Press Release.
Qualified Persons
Brian McEwen, P.Geol., VP
Exploration and Development to the Company, is a Qualified Person
as defined in National Instrument 43-101 and has reviewed and
approved the technical contents of the news release.
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration
company with a successful track record of creating value by making
precious and base metal discoveries and advancing them into
exceptional deposits.
Golden Arrow is actively exploring its flagship property, the
advanced San Pietro iron oxide-copper-gold-cobalt project in
Chile, and a portfolio that
includes nearly 125,000 hectares of prospective properties in
Argentina.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. All statements,
other than statements of historical fact, that address activities,
events or developments the Company believes, expects or anticipates
will or may occur in the future, including, without limitation,
statements about the Option exercise and the timing thereof, the
final approval of the TSXV, proceeds from the Transaction and the
use of such proceeds; the Company's plans for its mineral
properties; the Company's business strategy, plans and outlooks;
the future financial or operating performance of the Company are
forward-looking statements.
Forward-looking statements are subject to a number of risks
and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things:
the impact of COVID-19; risks and uncertainties related to the
ability to obtain, amend, or maintain licenses, permits, or surface
rights; risks associated with obtaining necessary regulatory
approvals; risks associated with technical difficulties in
connection with mining activities; and the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations. 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, unless
required pursuant to applicable laws.
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SOURCE Golden Arrow Resources Corporation
