Golden Arrow Reports New High-Grade Silver-Copper Results from Potrerillos Project, Argentina

Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC, WKN: A0B6XQ, "Golden Arrow" or "the Company") is pleased to report additional results from the 2010-2011 surface sampling program on its 100% owned 4,000ha Potrerillos project. Ongoing surface exploration continues to establish new zones and additional drill targets on the project. The new high-grade silver-copper results reported herein enhance significance of the Copper South zone, located south of the Panorama gold-silver zone, where drilling is currently underway.


Highlights include:

- An average of 498 g/t silver and 7.8% copper over 9m from a series of chip samples collected obliquely across a mineralized structure at Sol Ridge adjacent to the northwest-southeast trending regional Pascua Lama mega-structure.

- At Filo Verde, near the southern end of the property, a 1.5km by 0.5km copper in talus fines anomaly (>50ppm Cu up to a maximum of 149ppm Cu) is widening and open to the southeast. The anomaly is co-incident with a dipolar magnetic high, defined by recent ground surveys, suggesting magnetic intrusive bodies underlie the Filo Verde ridge


An intensive mapping and surface sampling program has been underway at Potrerillos with a team of 15 geologists and field technicians working at the project since November. Detailed surface work over the past several months has resulted in the identification of several silver-copper targets in the Copper South zone at the Potrerillos project. These high grade silver-copper zones may be related to the Pascua Lama mega-structure and intrusive bodies, evidenced by discrete ground magnetic anomalies.

Highlights of results are reported from 420 rock chip samples and 382 talus fines collected from the Copper South target, which covers the southern extension of the Panorama Ridge over 3.5km in the southern part of the Potrerillos Project.

Potrerillos is located just 8km east of Barrick Gold Corporation\'s Veladero gold-silver mine (11.3 Moz gold equivalent reserves*) and 9km from the Pascua Lama project (17.8 Moz of Proven and Probable Gold Equivalent Reserves, including 671 million ounces of silver*) in San Juan Province, Argentina.


Technical Summary:

For highlights of surface chip sample results see Table 1 (below) and for location of surface rock chip samples and soil samples and anomalies see Maps 1-4 (follow links):

Map 1: http://www.goldenarrowresources.com/i/maps/Map1_CopperSouthAreaCu.jpg
Map 2: http://www.goldenarrowresources.com/i/maps/Map2_CopperSouthAreaAg.jpg
Map 3: http://www.goldenarrowresources.com/i/maps/Map3_FiloVerdeCusoilandMAG.jpg
Map 4: http://www.goldenarrowresources.com/i/maps/Map4_SOLCurockchip.jpg

Detailed mapping and sampling over the past several months has resulted in the definition of several copper-silver drill targets in the Copper South zone at the Potrerillos Project. Mapping demonstrates the area is predominantly underlain by andesite and basaltic lavas and tuff sequences. Exposure is very limited with the approximately 85% of the area covered by modern sediments. Alteration is characterized by widespread calcite stockwork veining and shear and fault structures with intense clay and carbonate alteration. A structural interpretation shows left lateral movement on the Pascua Lama mega-structure, the major structural corridor believed to have been a loci for mineralizing fluids at the 17.8 million ounce Pascua Lama deposit, located 9km to the northwest. Where the north-south Panorama thrust fault cuts the northwest trending Pascua Lama mega-structure a dilational jog occurs, potentially creating open space for injection of intrusions and mineralizing fluids (see Map 3). The high magnetic dipole anomaly in the open space created south of this flexure is 1.4km by 0.3km and coincident with a 1.5km by 0.5km copper in talus fines anomaly (51 soils collected on 50 m intervals along 3 lines spaced at 400m with >50ppm Cu and ranging up to 149ppm Cu) that is open and widening to the southeast. The Filo Verde copper in talus fines anomaly and magnetic high dipole anomaly are co-incident with this flexure on the Pascua Lama structure and combined make a compelling drill target.

Of the 420 rock chip samples collected from the Copper South area, 16 samples had >30ppm silver up to a maximum 894ppm silver and 21 samples had >0.5% copper up to a maximum 23% copper (Maps 1 and 2). The most significant zone of mineralization identified to date is on Sol Ridge on the western side of the Copper South target. Sol Ridge is a 200m by 60m isolated ridge with outcrops of andesite agglomerate and breccia that has been cut by series of copper-sliver mineralized shears which have been hand sampled where outcrop allows. The ridge is located immediately adjacent to the northwest-southeast trending regional Pascua Lama mega-structure 1.4km north west of the Filo Verde copper anomaly. Three hand trenches were chip sampled along the 200m trend of the ridge; Map 4 displays in detail the results from these trenches. From one 34m long composite chip sample a 9m section averaged 498 g/t silver and 7.8% copper. These samples do not represent true width across the mineralized structure as the line of sampling was at an oblique angle to its interpreted trend; true width may be in the order of 50% of sample length and the potential that reported values could have been influenced by surface enrichment is not known. The mineralized material is friable and recessive and stained by copper oxides; outcrop is poor, particularly down the sides of the ridge along the predicted strike of the mineralization. Bulldozer trenching is planned to expose the structures and facilitate future sampling.

Table. 1. Sol Ridge Surface Rock Chip Highlights

Sample 	Length (m)** 	Description 	Ag ppm 	Cu % 	Weighted averages of
selected intercept
26552 	3 	andesite tuff 	<0.5 	0.0
26553 	2 	breccia 	284.0 	5.4 	Ag ppm 	Cu % 	Width
26554 	3 	breccia 	226.0 	4.5 	Sol Structure 1
26555 	2 	breccia 	724.0 	10.6
26556 	2 	breccia 	894.0 	12.3 	498.0 	7.8 	9m
26557 	2 	andesite tuff 	1.0 	0.0 	  	  	 
26558 	2 	breccia 	215.0 	3.7 	215.0 	3.7 	2m
26559 	2 	andesite tuff 	3.0 	0.0 	  	  	 
26560 	2 	andesite tuff 	3.4 	0.0 	  	  	 
26561 	2 	andesite tuff 	3.4 	0.1 	  	  	 
26562 	2 	breccia 	186.9 	3.9 	 
26563 	2 	breccia 	58.8 	1.0 	 
26564 	2 	breccia 	123.5 	1.9 	123.1 	2.3 	6m
26565 	2 	andesite tuff 	22.7 	0.4 	  	  	 
26566 	2 	andesite tuff 	<0.5 	0.0 	  	  	 
26567 	2 	basalt 	<0.5 	0.0 	  	  	 
  	34 	Total composite chip length (m)

**True width of reported chip samples is believed to be less that sample length


Frontera District:

Golden Arrow controls 100% of 7 properties totaling 12,488ha in the Frontera District of northwestern San Juan Province which is one of the most prolific gold-silver mining camps in South America and lies at the northern end of the El Indio metallogenic belt. This district contains Barrick Gold Corporation\'s world class Pascua Lama Project, which is currently under development and contains 17.8 million ounces of Proven and Probable Gold Equivalent Reserves, including 671 million ounces of silver*, and their Veladero Mine with Proven and Probable Reserves of 11.3 million gold equivalent ounces*. Golden Arrow\'s Potrerillos and Rio de los Taguas properties are both located within 8km of the Pascua Lama and Veladero gold-silver deposits (see Figure 1: http://www.goldenarrowresources.com/i/maps/Potrerillos-Tenure-area.jpg).

The technical information contained in this release has been prepared by Bruce Smith, AUSIMM, Golden Arrow\'s Exploration Manager and a Qualified Person, and has been reviewed by Dr. David A. Terry, P.Geo., director and Vice President Exploration for Golden Arrow, and a Qualified Person as defined in National Instrument 43-101. The Company followed industry standard procedures for the work carried out on the Potrerillos Project. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the lab for quality assurance/quality control (QA/QC) purposes. In general one blank, one duplicate and two standards are inserted into the sample sequence for each batch of 74 samples. Golden Arrow detected no significant QA/QC issues during review of the data.


About Golden Arrow:

Golden Arrow is a Vancouver-based, explorer and prospect generator focused on advancing, identifying and acquiring precious and base metal projects in Argentina with the goal of achieving a world class discovery. The Company is well positioned for growth of shareholder value with a royalty income from its 1% NSR on Yamana Gold Corp.\'s Gualcamayo Gold mine in San Juan, Argentina, a joint-venture with Vale on two properties, an attractive portfolio of highly prospective exploration projects and a pipeline of new opportunities under review. Golden Arrow will continue to execute its strategy to leverage the Company\'s exploration exposure by attracting partners to fund work on its portfolio of high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company with over 18 years of experience in South America.


ON BEHALF OF THE BOARD

"Joseph Grosso"
Mr. Joseph Grosso, President & CEO



For further information please contact:

Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenarrowresources.com
www.goldenarrowresources.com

*Barrick Gold Corporation 2010 Annual Report



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.

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. Readers are encouraged to refer to the Company\'s public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC\'s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.