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Golden Arrow Announces Exercise of Option at the San Pietro IOCG Project
Golden Arrow Announces Exercise of Option at the San Pietro IOCG Project Canada NewsWir...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"\n\n\n\n Golden Arrow Announces Exercise of Option at the San Pietro IOCG Project\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n TSX Venture Exchange (TSX-V):\n \n G\n \n\n RG\n \n\n Frankfurt Stock Exchange (FSE):\n \n G6A\n \n\n OTCQB Venture Market (OTCQB):\n \n GARWF\n \n\n\n\n\n\n\n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n April 29, 2025\n \n\n /CNW/ -\n \n Golden Arrow Resources Corporation\n \n (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF)\n \n , (\"Golden Arrow\"\n \n or the\n \n \"Company\")\n \n is pleased to announce that Sociedad de Servicios Andinos SpA (\"\n \n SSA\n \n \") has exercised the previously announced option (the \"\n \n Option\n \n \") to acquire 333 shares (each, a \"\n \n Share\n \n \") in the capital of New Golden Explorations Chile SpA (\"\n \n NGE\n \n \"), 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.\n \n\n To exercise the Option, SSA contributed\n \n US$5,000,000\n \n (in the equivalent amount of Chilean pesos) to NGE, as follows:\n \n\n\n\n US$2,000,000\n \n in cash;\n \n\n\n\n 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\n \n US$3,000,000\n \n ; and\n \n\n\n\n issuing to NGE a promissory note for the sum of\n \n $18,078.97\n \n representing the balance to be used from the services.\n \n\n\n SSA is arm's length to the Company and no finders' fees were payable for this transaction.\n \n\n\n San Pietro Project\n \n\n\n NGE holds a 100% interest in the Company's San Pietro iron oxide-copper-gold-cobalt project in\n \n Chile\n \n (the \"\n \n San Pietro Project\n \n \"). The San Pietro Project covers nearly 18,500 hectares, approximately 100 kilometres north of Copiapo. ...