Golden Arrow Chairman's Update to Shareholders
Golden Arrow Chairman's Update to Shareholders
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
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For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058,
Email: [email protected]
CO: Golden Arrow Resources Corporation
CNW 09:30e 28-OCT-19