Golden Arrow Advances Mine Permitting at Chinchillas Silver Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 21, 2016) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(OTCQB:GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce that the Environmental Report ("ER") for exploitation at the Chinchillas project has been submitted to the mining authority in the Province of Jujuy.

This report initiates formal permitting for mine development and is part of the Chinchillas Project pre-development activities funded by Silver Standard (as per the proposed combined mining business with Silver Standard's Pirquitas mine announced October 1^st, 2015).

"The filing of this report is a major step forward for the development of Chinchillas with Pirquitas, and we are confident that the stakeholder review will yield a positive outcome. We are now finishing the pre-feasibility studies and look forward to a decision from Silver Standard by the end of the year," stated Brian McEwen, Golden Arrow VP Exploration and Development.

The detailed Environmental Report is the main focus of permitting for mining projects in the province of Jujuy. The report includes a description of the expected environmental impacts of the proposed mining operation, a management plan for those impacts and a plan of action on environmental contingencies. The ER is submitted for review by Jujuy's Provincial Environmental Management Unit, or UGAMP. The UGAMP is a multi-stakeholder group chaired by a technical appointee from the Mining Department who review and discuss the ER, and recommend approval or rejection to the provincial mining authorities. Approval by UGAMP provides the needed social license to obtain an exploitation permit.

Qualified Persons

The technical content of this news release has been reviewed and approved by Mr. Brian McEwen, P.Geol., VP Exploration and Development to the Company. Mr. McEwen is a Qualified Person as defined in National Instrument 43-101.

About Golden Arrow:

Golden Arrow Resources is a Vancouver-based exploration company focused on creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is currently focused on its Chinchillas Silver Project located in the mining-friendly Province of Jujuy, Argentina. The innovative transaction announced October 1st 2015, positions the Company to maximize shareholder value by fast-tracking Chinchillas to production and becoming a 25% owner of the Pirquitas silver mine.