OPERATIONS

PESCADO GOLD PROJECT

pescado Location Map

Project Summary

Golden Arrow has an exclusive right to the ~ 20,000 hectare Pescado gold project in eastern San Juan Province, Argentina. The project is located 10 kilometres south of Yamana's Gualcamayo gold mine which has 2.8 million ounces in M&I gold resources and produced over 160,000 ounces of gold in 2016.1 The property lies in the PreCordillera region with elevations ranging from 1500m to 2500m above sea level.

Detailed airborne magnetic surveys have identified two large intrusive bodies at the intersections of major regional faults within the project boundaries (Pescado and Yanso targets).

Pescado Target

At Pescado dispersed gold mineralization occurs within 5km x 3km area. Pescado is localized at the intersection of two major structural zones within Paleozoic sediments and is co- incident with a large di-polar magnetic anomaly, related to a tertiary intrusive center.

The intrusive does not outcrop, but wide zones (up to 500m) of clay-pyrite alteration are observed cut by narrow faults and shears (1-2m wide) where grades ranging up to 17 g/t Au in surface sampling.

Large gold soil (2.8km by 1.1km) and silt (4.8km long) anomalies are co-incident with the predicted intrusive center.

Yanso Target

At Yanso target a 300m x 30m zone of alteration is exposed in the bend of a major drainage at the intersection of two structural trends. Strong silica-illite-pyrite alteration of diorite is exposed at the contact with diorite intrusive. Strike extensions of the mineralized zone are buried by alluvial cover.

Chip samples from trenches include:
an average of 38m @ 0.58 Au g/t and sample results of 3.40 g/t Au, 43 g/t Ag ,0.49% Cu, 0.48% Zn, 650 ppm Mo, 644 ppm Pb, and 5202 ppm As.

1www.yamana.com 06/14/2017.