Canadian Arrow grants share purchase options

SUDBURY, ON, Aug. 15, 2011 /CNW/ --
SUDBURY, ON, Aug. 15, 2011 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the 'Company') announced today that pursuant to its stock option plan
and subject to approval of the TSX Venture Exchange, the  Company
granted a total of 2,950,000 options to twelve officers, directors and
employees of the Company on August 15(th), 2011.  These options vest over a period of 18 months at an exercise
price of $0.10 per share and have a term of 5 years.

About Canadian Arrow Mines:

Canadian Arrow Mines Limited is developing two advanced nickel/copper
mining projects located near existing infrastructure in Ontario,
Canada.  Its principal assets are the Kenbridge nickel-copper sulphide
project near Kenora, ON and its Alexo/Kelex mines near Timmins, ON.

The Company's NI 43-101 Measured Indicated contained mineral resource
inventory totals 110 M lbs of nickel and 48M lbs of copper. The Alexo
and Kelex mines have historically produced 87,000 tonnes averaging
3.06% nickel and are under review to re-start production.

A Preliminary Economic Assessment completed on Kenbridge concludes a net
present value of $253M (Sedar Sept. 4, 2008).  By comparison the
Company's market capitalization currently stands at $8.6M or a discount
of 99% to NPV. The closing non-LME spot nickel price on August 12, 2011
was quoted at US$9.65/lb. Canadian Arrow Mines trades on the TSX-V
under the symbol 'CRO' and has 132,792,030 shares issued and
outstanding.  Closing share price as of Aug. 12, 2011 was $0.065 per
share.

Mineral resources that are not mineral reserves do not have demonstrated
economic viability.

Additional information relating to Canadian Arrow is available on SEDAR
at www.sedar.com  

This press release may contain 'forward-looking statements' within the
meaning of the Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are made as of the date of this press release and the
Company does not intend, and does not assume, any obligation to update
these forward-looking statements.

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

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/15/c3736.html

visit the website at www.canadianarrowmines.ca, or contact Mr. Kim Tyler President and Director toll free, 1-877-673-5462.