Golden Arrow Announces Exercise of Option at the San Pietro IOCG Project TSX Venture Exchange (TSX-V): G RG Frankfurt Stock Exchange (FSE): G6A OTCQB Venture Market (OTCQB): GARWF
Golden Arrow Announces Exercise of Option at the San Pietro
IOCG Project
TSX Venture Exchange (TSX-V):
G
RG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER, BC
,
April 29, 2025
/CNW/ -
Golden Arrow Resources Corporation
(TSXV: GRG) (FSE: G6A) (OTCQB: GARWF)
,
("Golden Arrow"
or the
"Company")
is pleased to announce that Sociedad de Servicios Andinos SpA ("
SSA
") has exercised the
previously announced option (the "
Option
") to acquire 333 shares (each, a "
Share
") in the capital of New Golden Explorations Chile
SpA ("
NGE
"), equivalent to approximately 25% of the issued and outstanding Shares, pursuant to the terms of the option agreement
between the parties. The Shares are not convertible or otherwise exchangeable for common shares of the Company.
To exercise the Option, SSA contributed
US$5,000,000
(in the equivalent amount of Chilean pesos) to NGE, as follows:
1
.
US$2,000,000
in cash;
2
.
performing drilling services, heavy machinery services, truck rental, as well as other goods or necessary services for the
development of field activities at the San Pietro Project (as described below) with an aggregate value of
US$3,000,000
; and
3
.
issuing to NGE a promissory note for the sum of
$18,078.97
representing the balance to be used from the services.
SSA is arm's length to the Company and no finders' fees were payable for this transaction.
San Pietro Project
NGE holds a 100% interest in the Company's San Pietro iron oxide-copper-gold-cobalt project in
Chile
(the "
San Pietro Project
"). The
San Pietro Project covers nearly 18,500 hectares, approximately 100 kilometres north of Copiapo. Situated between and adjacent to
Capstone Copper's Manto Verde Mine property and Santo Domingo Project, the San Pietro Project is in the centre of a potential new
copper-cobalt region within an active, well developed mining district that is home to all the major iron oxide-copper-gold ("
IOCG
")
deposits in
Chile
. The proximity of the San Pietro Project to other mining projects in the area does not provide any assurances with
respect to the prospects at the San Pietro Project.
About Sociedad de Servicios Andinos SpA:
SSA is a company based in Copiapó whose main activities are Diamond drilling, Heavy Equipment Services and Logistics. SSA's main
shareholder is also the majority shareholder of AGV GROUP, a leading mining services company in
Argentina
, with a ten year
partnership with Grosso Group companies in
Argentina
, including
Golden Arrow
.
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.
Golden Arrow
is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in
Chile
, and a
portfolio that includes nearly 125,000 hectares of prospective 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"
_______________________________
Mr.
Joseph Grosso
,
Executive Chairman, President and CEO
Neither TSX Venture Exchange ("
TSXV
") nor its Regulation Services Provider (as that term is defined in policies of the TSXV)
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. All statements, other than statements of historical fact, that address activities,
events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation,
statements about the Company's business strategy, plans and outlooks; the future financial or operating performance of the
Company; future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that
could cause actual results or events to differ materially from current expectations include, among other things: risks and
uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical
difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be
consistent with the Company's expectations.
Actual results may differ materially from those currently anticipated in such statements.
The proximity of the San Pietro Project to other mining projects in the area does not provide any assurances with respect to the
prospects at the San Pietro Project. 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, unless required pursuant to applicable laws.
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SOURCE
Golden Arrow Resources Corporation
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For further information:
For further information, please contact: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-
901-0058, Email: [email protected]
CO: Golden Arrow Resources Corporation
CNW 07:00e 29-APR-25