Golden Arrow Resources Corporation

Golden Arrow Resources Corporation

April 10, 2006 09:15 ET

Golden Arrow Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2006) - Golden Arrow Resources Corporation (TSX VENTURE:GRG) is pleased to provide a general corporate update on exploration activities and the Company's plans for 2006. The Company is in a strong position for growth with only 7.8 million shares outstanding, a market capitalization of CDN $5.5 million, a treasury with CDN $2.5 million in cash and marketable securities, no debt (as of Dec. 31, 2005) and a 1% net smelter royalty ("NSR") on Viceroy Exploration Ltd.'s exciting Gualcamyo gold project that is currently at the feasibility stage. Golden Arrow's property portfolio contains 27 precious and base metal projects that cover over 125,000 hectares of prospective ground in both Argentina and Peru.

In total, Golden Arrow holds a 100% interest in 26 properties either granted or under application, totalling more than 125,000 hectares in San Juan and Chubut Provinces, Argentina, and one 8,700 hectare high-potential drill-ready property in northern Peru, Rio Tabaconas. Golden Arrow holds a strategically located land package in the Pre-Cordillera district of eastern San Juan Province, Argentina in the area of Viceroy Exploration Ltd.'s Gualcamayo gold project. Also in San Juan the Company has a significant land position in the Valle de Cura region, now called the Fronterra District, where the giant Veladero and Lama gold-silver deposits are located. The Company's projects include the drill-ready Portrerillos property, located 10 kilometres due east of the Veladero deposit. In western Chubut Province, Argentina the Company holds an attractive portfolio of properties, including the drill-ready Laguna de los Toros low-sulphidation epithermal gold project.

As a result of a regional generative program carried out recently by the Company in the province of Jujuy in northern Argentina, a total of 9 concessions covering more that 15,000 ha have been applied for. These properties mainly cover lode and bulk tonnage gold targets hosted by folded Ordovician sediments. Preliminary sampling results will be released, and extensive surface work programs will commence on these properties as the concessions are formally granted to the Company.

Golden Arrow is planning a very aggressive year in 2006 and is financed to carry out its exploration programs. Significant work will be carried out on the Company's properties in San Juan and Jujuy. In addition Golden Arrow is actively leveraging its exploration dollars by attracting joint venture partners to explore its large land base in Argentina, and currently has option agreements in place on its Mogote copper-gold property in San Juan and on Penascudo gold-silver property in Chubut.

Through the Company's alliance with The Grosso Group, new opportunities are continuously being presented and reviewed. Other members of The Grosso Group include IMA Exploration Inc., Amera Resources Corporation, Golden Arrow Resources Corporation, Astral Mining Corporation and Gold Point Energy Corporation.


Mr. Joseph Grosso, President & C.E.O.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2006 Number 1

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information