Golden Arrow's Strategy in a Re-Emerging Mining Market

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 11, 2016) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(WKN:A0B6XQ), ("Golden Arrow" or the "Company") has structured a plan to capture the positives of the market changes using the Company's value achievements to date as a base for growth.

The top priority and value will be to continue working with Silver Standard who is working diligently toward the feasibility of integrating the two projects, Chinchillas and Pirquitas Mine. Silver Standard's financial commitment has considerably advanced the Chinchillas Silver project's value.

The resurgence of the price of silver which is encouraging new production economies, plus the significant tax reduction by the Government of Argentina, is re-opening the country as a leading destination for new investment.

The Company wishes to announce that it has entered into an option agreement to acquire a 100% interest in the Antofalla project, a silver and base metals project located in Catamarca Province, Argentina. Antofalla hosts similar styles of geology and mineralization to the Company's Chinchillas Silver Project. The terms of the option agreement include staged payments over five years totaling $1.56M for a 100% interest in the property. The vendor would retain a 1% net smelter royalty.

In addition, Golden Arrow is a 100% paid-up owner of 214,000 hectares (528,000 acres) of an extremely well-located property portfolio which could well advance another world-class discovery in addition to the previous three already found by the Grosso Group.

Golden Arrow's plan during this mining industry market turnaround is to maximize value on all fronts by: continuing the search and review of exciting new projects for acquisition or merger; continuing the development of well-located properties already held by the Company in Argentina; and, the advancement of its Chinchillas project to production.

ON BEHALF OF THE BOARD

Mr. Joseph Grosso, Executive Chairman, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of the Chinchillas project, plans related to its business and other matters that may occur in the future. Statements concerning mineral resource estimates and the interpretation of drill results may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the Chinchillas project is developed. These statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: assumptions made in the Chinchillas Mineral Resource Estimate, including geological interpretation, grade, recovery rates, silver, zinc and lead price assumptions and operating costs; the availability of financing for exploration and development activities, including Silver Standard Resources Inc. ("SSRI") meeting certain milestones and exercising its election to proceed with the transactions contemplated under the Business Combination Agreement dated September 30, 2015 among the Company, SSRI and certain other parties; the Company's ability to attract and retain skilled staff; the Chinchillas project development schedule; the exchange rates of the Canadian dollar and United States dollar to the Argentina peso; market competition; ongoing relations with impacted communities; and general business and economic conditions.