Golden Arrow Completes Sale of Copper Assets at San Pietro Project
Golden Arrow Completes Sale of Copper
Assets at San Pietro Project
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) -
Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),
("
Golden Arrow
" or the "
Company
") is
pleased to announce that the Company has successfully completed the transaction announced on June
23, 2026, and has sold copper assets at the San Pietro Project ("
Copper Assets
") to Capstone
Copper Corp. ("
Capstone
") and its wholly-owned subsidiary (the "
Transaction
"). The Transaction was
approved by disinterested shareholders of the Company on August 21, 2026.
The full details of the Transaction were set out in our news release dated June 23, 2026. As
consideration for the sale of the Copper Assets, New Golden Exploration Chile SpA ("
NGE
"), a joint
venture indirectly owned by Golden Arrow (75.019%) and its joint venture partner, Sociedad de Servicios
Andinos SPA (24.981%), received 2,200,012 common shares of Capstone (the "
Capstone Shares
")
for a value of approximately US$25,000,000 (the "
Consideration
), calculated using the volume-
weighted average closing price of Capstone's common shares for the 10 trading days ending two
business days prior to closing, calculated on the Bank of Canada exchange rate two business days prior
to closing. The approximate transaction costs and taxes payable for the Transaction are expected to be
$6,550,000, with such fees being deducted from the Consideration received. New Golden Explorations
Atlantida Ltd., a Golden Arrow subsidiary, received 1,666,914 Capstone Shares but had 165,042
Capstone Shares withheld for taxes payable in Chile, and 66,000 Capstone Shares deducted for the
Advisory Fee (as defined below). Sociedad de Servicios Andinos SPA received 533,098 Capstone
Shares.
"We are pleased to complete this transaction to unlock value from the San Pietro project.
We now
have a solid treasury that allows us to immediately expand our exploration efforts in Chile and
Argentina, including planning the first drill program at our Atakama gold project this autumn. This
closing marks a new chapter for the Company, and we look forward to building on this momentum to
make our next discovery and deliver additional value to our shareholders,"
stated Nikolaos Cacos,
Golden Arrow President & CEO.
As compensation for the services provided by Southern Cone Partners ("
SCP
") in connection with the
Transaction, the Company paid a transaction fee equal to US$750,000 (the "
Advisory Fee
"), to SCP.
The Advisory Fee was satisfied through the issuance of 66,000 Capstone Shares, which were deducted
from the Consideration received by NGE. The entire Transaction was arm's length and no other finder's
fees were paid.
About Golden Arrow:
Golden Arrow is a mineral 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 a portfolio of projects in Chile and Argentina. The Company is an affiliated
company of the Grosso Group, a resource focused management organization that provides operational
support to its affiliated companies as they advance quality resource projects.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
Mr. Nikolaos Cacos,
President and CEO
For further information, please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email:
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the
TSX-V) 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: Golden Arrow's plans for, and the future prospects of, its mineral properties; the approximate
transaction costs and taxes payable for the Transaction; and the Company's business strategy, plans
and outlooks and the future financial or operating performance of the Company 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 associated with technical difficulties in connection with exploration 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. 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 forward-looking statements contained in this news release are made as of the date hereof and the
Company does not undertake any obligation to update or revise any forward-looking statements
except as required by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312093