Golden Arrow Update from President

(via Thenewswire.ca)

Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC, WKN: A0B6XQ, "Golden Arrow" or the "Company") provides an update from its President and CEO, Mr. Joseph Grosso:

"During the present downtrend of current market conditions, I would like to reassure our shareholders, that the current share price is not reflective of the Company\'s fundamentals and resources. Our management team is making great efforts to materialize on some of the opportunities offered by this downtrend.

The Company continues to assist our partner, Vale S.A., to prepare for the of exploration and drilling of the Mogote and Purulla projects, continuing on their second year option to acquire up to a 70% interest in each of these two projects.

Additionally, Golden Arrow is finalizing its exploration plans for Potrerillos, and, is currently preparing to embark on a drilling campaign on the Chinchilla Silver Project, expanding on the 11 successful previously drilled holes.

Project generation is progressing on many fronts; properties are being advanced towards the drilling stage; and, the Company is reviewing the acquisition of additional resource projects.

The Company\'s source of funding is the $4.25 million in the treasury and the income from the royalty it receives from Yamana Gold Corp.\'s Gualcamayo Gold mine, one of the projects discovered by us. The Company expects to receive its next scheduled quarterly payment on November 1, 2011.

We look forward to keeping you informed on our progress."

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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