Golden Arrow Chairman’s Update

Terminal City Club Tower, Suite 411 - 837 West Hastings Street

Vancouver, BC CANADA V6C 3N6 TSX Venture Exchange (TSX-V): GRG

Tel: 604-687-1828 • Fax: 604-687-1858 • Toll Free: 1-800-901-0058 Frankfurt Stock Exchange (FSE): GAC

www.goldenarrowresources.com • [email protected] OTCQB Venture Market (OTCQB): GARWF

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NEWS RELEASE – October 10, 2018

Golden Arrow Chairman’s Update

Vancouver, BC / Globe Newswire / October 10, 2018 / Golden Arrow Resources Corporation (TSX-V: GRG,

FSE: GAC, OTCQB: GARWF), “Golden Arrow” or the “Company”.

At the outset, I would like to reassure our investors that the recent market activity does not reflect the

fundamentals of Golden Arrow.

The Chinchillas deposit ’s integration with Pirquitas (part of the Company’s Puna Operation Inc.’s joint-venture

with SSR Mining) is advancing on schedule and on budget. I would like to note that Golden Arrow, has committed

the bulk of its treasury and the line of credit provided by SSR, to ensure its share of capex requirement is fully

funded.

Further, the Company’s exploration arm, New Golden Explorations Inc., will continue with its exploration

objectives. The Company’s skilled technical team has a comprehensive list of projects with new discovery

potential. All exploration work will be funded directly by New Golden through new venture capital sources.

I invite all investors who have questions or would like further information about our Company to contact me or

our Corporate Communications department.

ON BEHALF OF THE BOARD

“Joseph Grosso”

_______________________________

Mr. Joseph Grosso,

Executive Chairman, President and CEO

For further information, please contact:

Corporate Communications

Tel: 1-604-687-1828

Toll-Free: 1-800-901-0058

Email: [email protected]

About Golden Arrow:

Golden Arrow Resources Corporation is an exploration company earning production income. The Company has

a successful track record of creating value by making precious and base metal discoveries and advancing them

into exceptional deposits. Golden Arrow owns a 25% share of Puna Operations Inc., a joint venture operated by

SSR Mining, with more than 8 years of forecast production and upside potential at the Pirquitas -Chinchillas silver

News Release October 10, 2018

Golden Arrow Resources Corporation Page 2

mining project. Golden Arrow is actively exploring on its more than 200,000 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.

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.