Golden Arrow Resources Corporation

Golden Arrow Resources Corporation

March 04, 2008 09:02 ET

Phase I Drill Program Underway on Golden Arrow's San Jose Gold Project, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2008) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(WKN A0B6XQ) is pleased to announce that it has commenced a minimum 19 hole 2,200m diamond drill program on its 100% owned San Jose gold project in Jujuy Province, northwest Argentina. The San Jose property hosts high-grade gold quartz vein occurrences and stockwork-related bulk-tonnage style gold mineralization. The Company has carried out extensive surface channel sampling on the project over the past two years, identifying three significant mineralized zones along a 1.2km trend within gold-in-soil anomalies. All three zones will be tested during the current drill program.

Highlights from channel sampling include:

- 14.0m @ 0.89 g/t gold, including 5.5m @ 1.66 g/t gold from SJT01(i)
- 17.0m @ 1.15 g/t gold, including 3.0m @ 3.42 g/t gold from SJT02(i)
- 7.0m @ 1.39 g/t gold from SJT04(i)
- 17.5m @ 1.70 g/t gold, including 5.0m @ 5.30 g/t gold from SJT05(i)
- 32m @ 0.77 g/t gold from SJT08(i)
- 23m @ 0.99 g/t gold from SJT23(ii)
- 10m @ 1.70 g/t gold from SJT31(ii)

(i) August 15, 2006 and (ii) December 11, 2006 News Releases

The San Jose Gold Property is located in the Sierra de Rinconada which comprises a continuous northeast-trending belt covering an area of 30km by 130km. This is underlain by folded Middle Ordovician turbidite sediments that host small orogenic gold deposits at Minas Azules, Rinconada, El Carmen and El Torno and larger examples along its northern extension in Bolivia (Amayapampa - 0.6 Moz and Lipichi) and Peru (Pataz - greater than 6 Moz). These deposits are aligned parallel to the fold trend and generally occupy the flanks of regional anticlines. Although gold deposits in Sierra de Rinconada share many characteristics with well-documented orogenic gold deposits in Phanerozoic fold belts elsewhere (e.g., Bendigo, eastern Australia; Meguma Terrane, Nova Scotia; Tien Shan, central Asia) this belt has received little modern exploration.

Golden Arrow's Management Team is one of the most experienced in the field today. The Company is a member of The Grosso Group and is an industry leader in the exploration for precious metal discoveries and are industry professionals that have earned a reputation for creating value for shareholders by identifying new opportunities through their extensive experience in the exploration industry and their diverse network of contacts in South America.


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.

2008 Number 4

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

Contact Information

  • Golden Arrow Resources
    Joseph Grosso
    President & CEO
    1-800-901-0058, or (604) 687-1828 ext.248
    Golden Arrow Resources
    Bruce Korhonen
    Investor Relations Manager
    1-800-901-0058, or 604-687-1828 ext.248
    (604) 687-1858 (FAX)