Arrowhead Gold Corp.

Arrowhead Gold Corp.

November 02, 2011 10:07 ET

Arrowhead Drills to Test 9.6 Grams Per Tonne Gold in Trenches at Puruni, Guyana

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Arrowhead Gold Corp. (the "Company") (TSX VENTURE:AWH) is pleased to announce that it has signed a drill contract and that drilling will commence shortly at its wholly owned Puruni Gold Project in Guyana.

Arrowhead has completed an extensive exploration program at Puruni including deep hand auger-type soil sampling as well as soil gas hydrocarbon ("SGH") deep penetrating geochemistry. The soil and SGH results highlighted five prospective zones labeled A, B, C, D and E. The Company is currently focusing on A, C and E and to this end completed a 25km induced polarization ("IP") geophysical survey over these zones. The IP results correlated very well with the soil and SGH results and together they indicated the potential occurrence of a gold-bearing structure.

Mechanical trenching at the C zone confirmed the presence of a northwest to southeast trending multiple quartz vein system. A total of five trenches were completed over a strike length of 800m at trenching intervals of 200m. Significant gold values were returned from samples collected from the three trenches done furthest to the south. Trench T-03 returned the best values including 2.5 grams per tonne gold (gpt Au), 6.2gpt Au and 9.6gpt Au. Trench T-05 returned a best value of 2.4gpt Au.

The drill program, due to begin shortly, will test the C zone at depth below the area from Trench T-03 to T-05 over an approximate horizontal strike length of 250m. It is anticipated that 8 to 10 holes will be drilled.

The trench sampling was completed by the Company`s Guyana field crew under the supervision of Martin Zambrano, Senior Geologist. All analytical work was completed at Acme Analytical Laboratories Ltd. ("Acme") in Vancouver, B.C. Acme is accredited under ISO 9001. The samples were bagged on site and then delivered to Acme's facility in Georgetown, Guyana where they were prepared by crushing one kilogram to 80% passing 10 mesh and then pulverizing a 250-gram pulp subsample to 85% passing 200 mesh. The pulps were shipped to Vancouver and analyzed for gold by 30g fire assay ICP-MS technique. Mark Fekete, PGeo., a designated qualified person as defined in Section 1.2 in and for the purposes of National Instrument 43-101, has reviewed the technical content of this press release.

On Behalf of the Board of Arrowhead Gold Corp.,

Steve Smith, President

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

Neither the 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.

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