With two highly prospective exploration drilling campaigns underway, Golden Arrow Resources (OTCQX: GARWF; TSXV: GRG) is primed to benefit from the surge in commodities prices.

Golden Arrow’s accomplished geologist team is targeting its next – and fifth – major discovery in South America.

Dear Fellow Investor,

It’s a company with both history and momentum on its side.

Golden Arrow Resources (OTCQX: GARWF; TSXV: GRG) is drilling the Rosales copper project in northern Chile and the Tierra Dorada district-scale gold project in Paraguay. Both projects have been thoroughly vetted, leading to drilling programs with outstanding value-building potential.

The company is well-funded with liquidity including cash and equities of C$17 million as of June 30, 2021 — which is only slightly less than the company’s entire market cap.

This company has been approved to make a normal course issuer bid to buy up to 10 million shares of its own stock — 10% of the public float — in the market over the next year. The stock has visibly bottomed.

With strong upcoming news flow, GRG has two ways to add serious value near-term while several other developments are in the making.

A Team With Four South American Discoveries To Its Credit

Golden Arrow Resources has earned a lot of respect in the mining community for large economic gold and silver discoveries in Argentina.

As a member of the Grosso Group of companies, the GRG geological team has made no less than four major discoveries — two that are in production by majors and two that are in large-scale development.

Those include:

• Gualcamayo, a gold mine in its 15th year of production by Mineros SA

• Navidad, one of the world’s largest silver deposits and currently in development by Pan American Silver

• Chinchillas, a silver mine in production by SSR Mining, which in 2019 paid Golden Arrow C$44 million, mostly in SSR Mining shares, for Chinchillas. That infusion is funding ongoing exploration by GRG.

• Amarillo Grande, a uranium project in development by Blue Sky Uranium (Argentina’s largest uranium resource, one the country wants and needs)

Coupled with superb community, regional and diplomatic relations spanning 28 years, GRG management was invited, along diplomatic lines, to review exploration properties of merit in both Chile and Paraguay.

These relations and successes have led to Golden Arrow’s two leading exploration plays now being drilled.

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Making ESG Values A Positive

Mining executives, investment professionals and investors shudder at the prospect of ESG issues — that is, environmental, social and governance issues.

In this instance, ESG values — espoused staunchly by the Grosso Group over decades before the term “ESG” was coined — have benefitted Golden Arrow with access to prospective mineralized properties in adjoining countries.

Now, after careful and thorough geophysical and geochemical testing of the projects, GRG has initiated drilling campaigns to find out if the two-dimensional, high-grade mineral values at surface are also strong to depth — which is the most probable source of the mineralization.

In the instance of Golden Arrow’s Rosales copper project in Chile, this is the maiden drill program. It should be noted that Rosales is directly adjacent to an active, producing underground copper mine which adds certain prospectivity, no question.

In the instance of the Tierra Dorada gold project in Paraguay, the company has recently executed a shallow drilling program with high-grade and visible gold results to 20 meters depth, accompanied by trenching of high-grade and visible gold as well.

An Accomplished Team At The Helm

In 1993, Argentina had no mining sector, no exploration, no expertise. The country opened itself for foreign capital and expertise to jump-start the sector.

In the same year, Joseph Grosso moved his family to Argentina to assemble an international exploration team and to evaluate properties throughout the country. The aforementioned four discoveries have resulted thus far. The company also controls fully 28 properties in Argentina.

Golden Arrow management includes:

Joseph Grosso, Executive Chairman, CEO and President — Founder of the Grosso Group’s management company, award-winning pioneer of exploration in Argentina, recently inducted into Argentina’s Mining Hall of Fame.

Nikolaos Cacos, Director and VP Corporate Development — Niko has 28 years of management expertise, extensive experience with strategic planning and administration of public companies.

Brian McEwen, P.Geol., VP Exploration & Development — A professional geologist with more than 30 years of exploration and production experience in open-pit and underground mining projects and operations in Canada, US, Europe, Asia, Africa and throughout Latin America.

A Compelling Copper Project In Chile

Simply put, Chile is the world’s capital of copper mining.

It’s the largest producer of copper globally, and nowhere is copper development and mining better understood or appreciated. This includes a supportive mining jurisdiction.

Golden Arrow has 100% control of 3,444 hectares with an additional 900 hectares under application, 90 kilometers from Copaipo by road in prolific northern Chile with excellent mining infrastructure.

Now that the Rosales project area has received an extensive geochemical and geophysical workup, it is known that the project area has similarities to many of Chile’s large copper mines in the northern portion of the country:

• It’s adjacent to an underground, producing copper mine, mining copper sulphides

• It exhibits a mantos-style model, like most copper mines in northern Chile. This means that the geophysical signature suggests high-grade, strata-bound, flat-lying and layered mineralization

• It has generated copper sulphide mineralization as observed at surface in geochemical assays containing 1-2% copper, including samples up to 5.74% copper

• Electromagnetic surveys taken both at surface and from air confirm two large anomalous zones, one above 250 meters depth and one above 500 meters depth.

In mid-September, GRG initiated a 3,000-meter reverse-circulation drilling program to test both targeted mantos-style zones at depth.

It is a programmed campaign, meaning that the results from the first holes will direct the locations and targets of following holes. The campaign will test both the two-kilometer Margarita Trend target and the NW target, as shown in the adjoining map.

Chasing High-Grade Gold In Paraguay

Paraguay is a frontier, one of the last under-explored regions in South America.

Yet, it has strong geological potential for significant mineral resources. Tierra Dorada is in the southern portion of the country with excellent infrastructure, flat-lying topography, road accessible and nearby to power lines.

Golden Arrow controls 64,000 hectares (640 square kilometers), a massive area containing two main blocks of potential. The southern block, containing the Alvaro and Itayuru zones, is the focus for high-grade quartz vein mineralization thus far.

The company’s 2,000-meter drilling program is targeting high-grade veins in the Alvaro zone, Showing #1.

Those veins have been initially delineated by trenching and the shallow Phase 1 drilling program performed earlier this year. In that first campaign, the company hit:

• 143.5 g/t gold over 0.5 m, within 6 meters averaging 14.5 g/t gold at 3 to 9 meters depth, and…

• 11.8 g/t gold over 3.16 m, within 7.75 m averaging 6.1 g/t gold at 1.7 to 9.35m depth

In the same area, Showing #1 at Alvaro, trenching hit 89.5 g/t gold and 61 g/t silver over 0.93 m, and 143.4 g/t gold and 95.8 g/t silver over 0.58 meters.

Because of these initial strong results, management is pretty confident going into this program, which started in late September and is continuing in the fourth quarter.

Additional holes will be drilled at the Itayuru zone, located 10 kilometers southwest of Alvaro. Here, reconnaissance stream and soil sampling have delineated initial very strong gold values, strong enough to merit first drill holes.

Of course, both drilling campaigns will be reported on frequently with news releases over the coming months.

Pushing Forward In Argentina

Coming right around the corner will be results from two projects in Argentina:

GRG has just closed an option agreement to acquire 75% of the Libanesa silver/gold project in Santa Cruz province from respected Mirasol Resources.

Here, Libanesa hosts several diversified geological, geochemical and geophysical supported targets and is permitted for drilling. GRG plans to mobilize an exploration team this month with the intent to refine targets for a drill program to start in Q1 2022.

Concurrently, Hanaq Argentina SA is earning into a 70% interest in GRG’s Caballos copper/gold project high in the Andes close to the Chilean border. Initial workups are anticipated.

Undervalued — With News Soon To Flow

Golden Arrow is trading at what seems to be a fraction of its value. This is why the company is willing to buy 10 million shares of its own stock in the market.

Simply put, it’s a bargain-basement stock...for the moment.

Whether gold rises or not, the company’s near-term news flow is likely to light up the screen. In the event gold does also rise, the speculative investor/shareholder could be doubly rewarded.

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