Golden Arrow Discovers High-Grade Porphyry Copper Style Mineralization in Western La Rioja, Argentina

Sep 8th, 2011 (via Thenewswire.ca) - Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC, WKN: A0B6XQ, “Golden Arrow“ or the “Company“) is pleased to announce it has acquired through staking the Caballos property which covers more than 22,800ha (22km by 10km) of a prospective porphyry copper and epithermal gold-silver district along the Chilean border in western La Rioja Province, Argentina. The Company has completed two initial prospecting/sampling campaigns on Caballos, identifying a new high-grade porphyry copper showing, the Caballos Copper Zone, and the Refugio de Plata Zone, a partially exposed vein/breccia silver target.

Highlights from limited initial sampling include:

-12m @ 2.4% copper from a composite rock chip sample across a diorite porphyry outcrop at the Caballos Copper Zone.

-1m @ 303 g/t silver and 0.11 g/t gold from a chip sample of mineralized breccia at the Refugio de Plata Zone

The Caballos property is located in a developing new porphyry district at the intersection between the south end of the Maricunga Copper-Gold Belt with the northern extent of the El Indio Gold-Silver Belt. Advanced projects in the area include El Moro (65km SW with proven and probable reserves of 8.17 million ounces of gold and 6.1 billion pounds of copper1), Los Helados (22km to SW with intercepts including Hole LH 16 with 701 metres of 0.67% copper and 0.30 g/t gold2) and Caserones (21km to the NW with 1.3 billion tonnes copper-moly3) on the Chilean side of the border and Josemaria (25km SW with Inferred resource of 4.4 million ounces of contained gold and 3.9 billion pounds of contained copper2) and Filo del Sol in Argentina (38km to SW with intercepts including VRC 28 with 222m of 0.66% copper2).

“The Caballos Project represents an excellent grassroots discovery in an emerging district by our team in La Rioja Province and is a positive addition to our land holding in La Rioja, adding to the pipeline of targets we plan to advance in the upcoming field season.“ commented David Terry, Golden Arrow's VP Exploration.

Golden Arrow plans to establish a field camp at the Caballos property in October to support intensive sampling, mapping and geophysical surveys on the property aimed at delineating targets for drill testing later in the exploration season.

Technical Summary:

A total of 178 reconnaissance rock chip samples have been collected by Golden Arrow on the property to date; two distinct mineralized target areas were identified: Caballos Copper Porphyry and Refugio de Plata epithermal silver-gold zones. Maps displaying the location and targets on the Caballos property can be found on the Company's website. http://www.goldenarrowresources.com/i/pdf/2011-09-08_NRM.pdf

At the Caballos Copper Zone an 18m diameter outcrop of diorite porphyry was chip sampled; 12m of the 18m continuous composite chip sample averaged 2.4% copper. Polished section microscope work indicates the majority of mineralization is primary chalcopyrite disseminated in diorite porphyry host, with lesser secondary copper oxides. Although the extent of the mineralized outcrop is limited, and there are non-mineralized intermediate rocks outcropping to the south and east of the observed copper mineralization, the Company interprets the discovery of this style of mineralization as being significant and it may represent a dyke or apophysis of a larger buried mineralized porphyry body.

Table 1: Caballos Copper Zone Rock Chip Samples

--------------------------------------------------------------
|Sample|Location            |Width (m)|Description      |Cu %|
|------------------------------------------------------------|
|26321 |Caballos Copper Zone|2.0      |Diorite Porphryry|1.6 |
|------------------------------------------------------------|
|26322 |Caballos Copper Zone|2.0      |Diorite Porphryry|1.9 |
|------------------------------------------------------------|
|26323 |Caballos Copper Zone|2.0      |Diorite Porphryry|3.0 |
|------------------------------------------------------------|
|26324 |Caballos Copper Zone|2.0      |Diorite Porphryry|2.7 |
|------------------------------------------------------------|
|26325 |Caballos Copper Zone|2.0      |Diorite Porphryry|2.3 |
|------------------------------------------------------------|
|26326 |Caballos Copper Zone|2.0      |Diorite Porphryry|3.1 |
--------------------------------------------------------------

At Refugio de Plata Zone, 7km NE of the Caballos Copper Zone, what appears to be a leached breccia zone is exposed in just a few small outcrops within a 400m by 20m wide area. A total of 9 samples of the various rock types exposed were collected; two within 50m of each other at the southern end of the trend contained high-grade silver and anomalous gold and are tabulated below.

Table 2: Refugio de Plata Rock Chip Samples

-------------------------------------------------------------
|Sample|Location        |Width (m)|Description|Ag ppm|Au ppm|
|-----------------------------------------------------------|
|22915 |Refugio de Plata|1.0      |breccia    |303   |0.11  |
|-----------------------------------------------------------|
|23714 |Refugio de Plata|0.5      |vein       |380   |0.23  |
-------------------------------------------------------------

The Caballos property is located in the Andean Cordillera with elevations ranging from 4,000m to 4,500m above sea level. A paved highway and good gravel roads allow easy access to the eastern part of the property and work can be conducted for 7 to 8 months of the year.

The Company followed industry standard procedures for the work carried out on the Caballos Project. Blank, duplicate, and standard samples were assayed for quality assurance/quality control (QA/QC) purposes. In total, 6 quality control hand surface samples (3.4% of all 178 samples) were analyzed. Golden Arrow detected no significant QA/QC issues during review of the data.

Analyses of the hand surface samples were performed by Alex Stewart Assayers, in Mendoza, Argentina, an internationally recognized assay service provider. The technical information contained in this release has been prepared by Bruce Smith, Chartered Professional MAusIMM Geologist, 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.

1 Goldcorp Inc. website (www.goldcorp.com)

2 NGex Resources Inc. website (www.ngexresources.com)

3 Pan Pacific Copper website (www.ppcu.co.jp)

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

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.

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