http://www.goldenarrowresources.com/...

September 22, 2008

Golden Arrow Resources Corporation (GRG – TSX.V) (“Golden Arrow” or the “Company”) is pleased to announce that it has negotiated with Barrick Gold Exploration through its subsidiary Barrick Exploraciones Argentina S.A. (“BEASA”) to provide a right of way to access water from Golden Arrow’s Rio de las Taguas property. In exchange for providing access to water for BEASA’s Pascua Lama gold project, Golden Arrow acquired from BEASA 100% of the 1592ha Aspero 1 claim. This claim is strategically important for Golden Arrow because it is contiguous to the Company’s 100% owned Pescado Gold Project which now totals 19,194ha. The Pescado Gold Project is located just 15km south of Yamana Gold Inc’s Gualcamayo gold deposit, which contains over 2.2M ounces of gold and is expected to commence production later this year. Golden Arrow holds a 1% NSR on this property and is scheduled to begin receiving royalty cash flow from this NSR beginning in Q1 2009.

On the Aspero 1 claim, the Company’s field crews will be carrying out prospecting, sampling and geological mapping, subsequent to the receipt of the appropriate permits.

Golden Arrow's Management Team is one of the most experienced in the field today. The Company is focused in Argentina and Peru in highly prospective mining regions with ongoing drilling on several properties. Golden Arrow has just over 15 million shares issued and outstanding, more than $2 million in cash and royalty cash flow beginning in Q1 2009.

ON BEHALF OF THE BOARD

“Joseph Grosso”