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Golden Arrow Announces $1.5 Million Financing - Silver Standard Resources Subscribes to Full Amount

May 27, 2015

Vancouver, BC / TNW-Accesswire / May 27, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce a $1,500,000 financing to continue with the work in progress on its Chinchillas Silver Project. The Company has entered into a subscription agreement (the "Subscription Agreement") with Silver Standard Resources Inc. ("Silver Standard") (NASDAQ: SSRI) (TSX: SSO) to issue $1,500,000 of common shares of the Company (the "Shares"), representing approximately 8% of the issued and outstanding shares of Golden Arrow (the "Transaction"). The Company will receive shares of Pretium Resources Inc. ("Pretium") (TSX: PVG) (NYSE:PVG) as consideration for the issuance of the Shares to Silver Standard.

"This investment by an experienced operator and significant silver producer like Silver Standard validates the quality of our Chinchillas Silver Project," stated Mr. Joseph Grosso, President and C.E.O. "This financing ensures that Chinchillas continues to advance creating value for all of our shareholders."

Golden Arrow will use the proceeds from the sale of PVG Shares received as consideration from the Transaction to fund ongoing work on Chinchillas and for general working capital. The Company is updating the geological model and resource estimate for the Chinchillas Silver Project to include the approximately 11,200 metres of diamond drilling from the Phase IV drill program, which successfully identified new mineralization in most holes. Besides increasing the expected resource totals, it is also anticipated that a significant portion of the resource will be upgraded to Measured and Indicated categories. The new resource estimate will be used to update economic studies to help guide the Company in the development of the project.

Financing Details

The Company has entered into a Subscription Agreement with Silver Standard to issue and sell Silver Standard $1,500,000 of Shares of the Company. The price per Share shall be $0.35 per Share, except that if the Company's five day volume weighted average price ("VWAP") of the Shares on the TSX Venture Exchange, calculated using the five trading days ending three trading days prior to the closing date of the Transaction, is determined to be lower than $0.3325 or greater than $0.3675, then the price per Share shall instead be an amount equal to 1.05 multiplied by the Company's VWAP.

In consideration for the issuance of the Shares to Silver Standard, the Company will accept non-cash consideration in the form of common shares of Pretium (the "PVG Shares"). The value of the PVG Shares shall be based on the five day VWAP of the PVG Shares on the Toronto Stock Exchange, calculated using the five trading days ending three trading days prior to the closing date of the Transaction, and rounding down to the nearest whole share. The PVG Shares will be free-trading and unencumbered. Pretium operates at arm's length to the Company.

The Transaction is scheduled to close on or about June 4, 2015, subject to receipt of regulatory approval. The proceeds of the Transaction will be used to fund activities for the Company's flagship Chinchillas Silver Project and for general corporate purposes.

The Shares issued in connection with the Transaction are subject to a four-month hold period. Silver Standard is not permitted to trade the Shares for a period of four months plus one day from the closing of the Transaction, except as permitted by applicable Canadian securities laws. The Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.

About Golden Arrow:

Golden 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 main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.


"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: info@goldenarrowresources.com

Neither the 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.

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release include statements regarding the Transaction, the Common Shares, the PVG Shares, the Chinchillas Silver Project and the intended use of proceeds of the Transaction, which involve known and unknown risks and uncertainties and which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.