TSX Venture Exchange (TSX-V): GRG
Frankfurt
Stock Exchange (FSE): G6A
OTCQB Venture Market
(OTCQB): GARWF
VANCOUVER, Oct. 28, 2019 /CNW/ - Golden Arrow
Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB:
GARWF), ("Golden
Arrow" or the "Company").
I am pleased to update you on our plans to continue building on
Golden Arrow's strong track‑record
of making discoveries and selling them to major producing companies
for cash and a royalty option for the life of the project when it
becomes a mine.
The Company's property portfolio has generated three major
discoveries: Gualcamayo gold deposit, Navidad silver deposit and
Chinchillas silver deposit that was recently sold to SSR Mining
Inc.
Golden Arrow's property portfolio
has been developed over the past 26 years and constitutes an
aggressive and exceptional pipeline with the potential to generate
shareholder value. The portfolio currently includes
multiple projects with discovery potential including our newly
acquired properties in Chile and
Paraguay.
Our focus is to advance and develop these assets in our
portfolio concurrently while seeking to acquire additional highly
discounted advanced assets. The Company's strategy is to capitalize
on opportunities created by the Company and the market by:
- engaging our highly experienced management team;
- building on our extensive property portfolio with identified
value that can be further advanced;
- taking advantage of the current mining market that has yielded
many advanced geological opportunities that can be acquired at a
substantial discount; and
- monitoring the current global state of dwindling deposits
combined with the rapidly growing developing countries that is
generating an increasing demand for natural resources.
Golden Arrow, debt-free and
financially strong is now able to develop our key target projects
to unlock the value contained in our portfolio The sale of
Chinchillas for $45 million netted
the Company $28 million after payment
of all outstanding Company obligations.
Golden Arrow's going forward
strategy is to:
- Limit early stage exploration to only high-potential locations
identified by Golden Arrow's
technical team;
- Accelerate timelines for discoveries by concentrating on
advanced targets with already established value; and,
- Convert discoveries into streams of long-term income.
We are positioned to build on our track‑record of generating new
discoveries and leave production to the producers. Our expertise is
exploration and we aim to make more new discoveries that can be
sold for cash and royalties. See attached five steps of
development.
As the President and Chairman of the Board, I would like to
conclude by saying that I am proud of our very committed
professional management team, stellar Board of Directors, and our
advisors. Our team is highly respected in our industry, have
collectively helped the Company to reach its goals, and are
committed to continue to build additional value for our
shareholders.
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration
company with a successful track record of creating value by making
precious and base metal discoveries and advancing them into
exceptional deposits. The Company is well‑leveraged to the
price of gold, having monetized its Chinchillas silver discovery
into a significant holding in precious metals producer SSR Mining
Inc.
Golden Arrow is actively
exploring a portfolio that includes advanced projects in
Chile, a district-scale frontier
opportunity in Paraguay, and more
than 185,000 hectares of properties in Argentina.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_________________________
Joseph Grosso,
Executive Chairman, President and CEO
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. 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.
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SOURCE Golden Arrow Resources Corporation