Golden Arrow Signs US$3 Million Drilling Contract for Issuance of Company Shares at US$2.38 per Share

About this update from Golden Arrow Resources Corp.

[{"type":"text","content":"Golden Arrow Signs US$3 Million Drilling Contract for Issuance of Company Shares at US$2.38 per Share(via Thenewswire.ca)\n\n \n\nVancouver, BC / TNW-Accesswire / Mar 10 2014 / Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to announce the proposed issuance of the Company's common shares to a leading drilling company for drilling services pursuant to the terms of a shares for services agreement (the \"Agreement\") executed by the parties. Up to 15,000 meters (or up to US$3,000,000) of the previously announced 25,000 meter (82,000 feet) drilling program currently underway on the Chinchillas Silver Project, shall be paid for by issuing up to a total of 1,260,504 common shares of the Company, at a deemed price of US$2.38 per share. The issued shares will be escrowed pursuant to the terms of a voluntary escrow agreement, and will be released upon the earlier of the date of completion of the drilling services or the expiry of three years following the date of the Agreement. \n\n \n \n\"It is a seal of approval to have a leading drilling company acknowledge the value of Golden Arrow and, specifically, Chinchillas,\" stated Joseph Grosso, President and CEO. \"Our industry peer recognizes not only the value of current resource and PEA of Chinchillas, but also the great potential for growth that the property and region offer through additional drilling.\" \n\n \n \nThe parties have agreed to amend the transaction previously announced by News Release dated January 6, 2014, in that the drilling services company will no longer acquire an equity interest in the Company's subsidiary, but will, instead, acquire common shares of Golden Arrow.\n\n \n \nThis proposed issuance of common shares in payment for the drilling services is subject to the prior approval of the TSX Venture Exchange. All common shares issued in connection with this payment will be subject to a four month hold period. \n\n \n \nAbout Golden Arrow:\n\n\n \n\nGolden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the Company...

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