Carrie Arran Announces Proposed Extension of Series A and Series B Warrant Expiry Date

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.

Carrie Arran Resources Inc. ("Carrie Arran") (TSX VENTURE:SCO) announces that it has made an application to the TSX Venture Exchange to extend the term of 2,762,500 warrants (the "Warrants") to purchase common shares to 5:00 p.m. (Toronto time) on December 21, 2012.

The Warrants were issued as part of private placements that were completed in December 2007 and January 2009 and as part of Carrie Arran's initial public offering in May 2011 (the "IPO"). Each Warrant issued pursuant to the private placements is exercisable to purchase one common share at a price of $0.165 per share and each Warrant issued pursuant to the IPO is exercisable to purchase one common share at a price of $0.25 per share. The expiry date of the Warrants was December 31, 2011. The exercise prices for the Warrants will remain the same.

The Warrant amendments remain subject to approval of the TSX Venture Exchange.

About Carrie Arran Resources Inc.

Carrie Arran's principal business is the acquisition, exploration and development of mineral properties. Since its IPO, Carrie Arran has focused on the exploration of the Black Creek Project, located approximately 30 km north of Kirkland Lake, Ontario, Canada. For more information on the Black Creek Project, please refer to Carrie Arran's NI 43-101 compliant technical reports, "Technical Report on the Black Creek Property for Carrie Arran Resources - Black Township - Larder Lake Mining Division - Ontario" dated as of February 8, 2011 and available on SEDAR at: www.sedar.com.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares issuable upon exercise of the Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.

Forward-Looking Statement Cautions:

This Press Release contains forward-looking statements which may involve a number of risks and uncertainties. Actual events or results could differ materially from Carrie Arran's forward-looking statements and expectations herein.