May 2012 - Golden Arrow Resources Corporation

May 2012GROSSO GROUP MEMBER COMPANY

DisclaimerForward-Looking Statements• This presentation contains forward-looking statements, including but not limited to commentsregarding predictions and projections. Forward-looking statements address future events andconditions and therefore involve known and unknown risks and uncertainties. You can identifythese statements by forward-looking words such as "believes", "expects", "plans", "projects","estimates" and other words of similar meaning. They can also be identified by the fact that they donot relate strictly to historical or current facts. Many factors can cause actual results to differ fromthese forward-looking statements, including inaccurate assumptions and a broad variety of otherrisks and uncertainties, including some that are known and some that are not. The known risks arediscussed in greater detail in the Company’s prospectus under the heading "Risk Factors" and in ourManagement Information Circulars which are filed on SEDAR (www.sedar.com) and with the BritishColumbia, Alberta and Ontario Securities Commissions. No forward-looking statement can beguaranteed and actual results may differ materially from those currently anticipated in suchstatements. We do not assume the obligation to update any forward-looking statement.Cautionary Note to U.S. Investors• The United States Securities and Exchange Commission ("SEC") permits mining companies, in theirfilings with the SEC, to disclose only those mineral deposits that a company can economically andlegally extract or produce. We use certain terms in this presentation, such as "mineral resources","measured", "indicated", and "inferred resources", that the SEC guidelines prohibit being used.2

Company Overview Pioneer in Argentina since 1993, one of the first companies in Argentina to claim property when themining industry was opened to foreign investment Instrumental member of our team, Dr. Vicente Mendez, was the Argentinean Government’s chiefgeologist for 14 years. His experience was critical in early property selections. Projects acquired adjacent to the major Chilean discoveries (protected by a military buffer zone priorto 1993 which covered some of Argentina’s highest mineral potential districts) 2 major discoveries in Argentina Highly respected for quality and reliable management resulting in one of the top explorationcompanies in South America. 100 % ownership on most of the 30+ projects with no large financial commitments3

Investment Highlights1% royalty on Yamana Gold Inc.’s GualcamayoGold Mine in Argentina Strong property portfolio in Argentina – over 30projects, most are 100 % owned with minimumfinancial commitments and 7 are at the drillreadystageOption agreement with Vale SA, the world’ssecond largest mining company by marketcapitalizationLeveraging treasury and exploration exposurethrough Joint Ventures55.2M shares outstandingStrong management team and board of directorswith history of discovery success4

Argentina Exploration Targets30 projects acquired over 19 years, many locatednext to major mines and depositsApprox. 3,500 km 2 , 100% ownedSkilled exploration team, and experiencedmanagement with the contacts necessary to advanceprojects in ArgentinaLocal exploration office in Mendoza with full-timetechnical, legal and community relations staff andconsultantsArgentina Technical Team in the field: Bruce Smith,Exploration Manager ; Daniel Bussandri, Chief Geologist5

Chinchillas Silver Project, Jujuy Advanced-stage, previously-drilled project with 5mineralized zones within a 1.5 km by 0.6 km area14 drill holes completed of which 11 holes cutpotentially economic mineralized intercepts.3,000m Phase 1 infill and expansion drill programongoing Option Agreement with Vendor to earn a 100%interest over a 4 year work program.Located in the prolific Bolivian silver–zinc-tin beltSilver Standard’s Pirquitas silver mine (148 MozProven and Probable reserves at 140.6 g/t Ag fromwhich 7.1 Moz silver was produced in 2011) 1 is 30km SW of ChinchillasGolden Mineral's El Quevar project, with aMeasured and Indicated Resource of 59.9 Mozgrading 310 g/t Ag 2 , is located 200 km south1Pirquitas Mine Reserves from Silver Standard Resources Inc.'s website.2El Quevar Mine Resources from Golden Mineral's website.6

Chinchillas Historical Drilling7

Chinchillas Exploration ProgramPhase 1 Program – Drilling Underway3000 m extensive infill and expansion drillprogram around the previously drilled targetsHighlights from Previous Drilling 112m at 86g/t AgEQ* (silver equivalent),38.9g/tAg, 0.80%Pb, 1.6% Zn including 44m at 111g/t AgEQ* in CH-1 Socavon del Diablo 14m at 8.06% Zn in CH-6 Zinc Zone 20m at 183.1 g/t Ag and 8m at 228.8 g/t Ag inCHD-15 Silver Manto* Silver Equivalents (AgEQ) were calculated using US$ 31.7/oz for Silver, US$ 0.93/lb for lead and US$0.91/lb for Zn.Metallurgical recoveries and net smelter returns are assumed to be 100%.8

San Juan – La Rioja Property Map GRG controls 100% of 7 projects totaling125 km 2 (12,500 ha) in the Frontera Districtof North Western San Juan, alongArgentina’s border with Chile Projects are in close proximity to othermajor discoveries: Barrick Gold: Veladero Mine Barrick Gold: Pascua Lama Deposit Yamana Gold: Gualcamayo Gold Mine9

Caballos Project – Cu, Au100 % owned 252 km 2 (25,200 ha) propertyLocated in a developing Porphyry districtbetween the south end of the MaricungaCopper-Gold Belt and the northern extentof the El Indio Gold-Silver Belt.Advanced projects in the area include:• El Morro (65 km SW with proven and probablereserves of 8.17 Moz Au and 6.1 billion pounds ofCu 1 )• Josemaria (25 km SW with an inferred resource of4.4 million ounces of contained gold and 3.9 billionpounds of contained copper 2 )Permits required for trenching and drillingare in place and targets identified.1Goldcorp Inc. website (www.goldcorp.com)2NGEx Resources Inc. website (www.ngexresources.com)10

Caballos MineralizationThe best sampling to date reported:• 12m chip sample averaged 2.4% Cu and 5m averaged 0.6% Cu• Up to 2.73 ppm Au from a grab sample occurs in a matrix supported breccia with calcite veins and iron oxides.• Talus fine sampling has defined a 1.4 km anomaly with up to 1667 ppm Cu and up to 150 ppb Au.• Ground magnetic and IP/Resistivity surveys have defined strong magnetic and chargeability highs that appear to becoincident with the mineralization and alteration described above.• The Company interprets the discovery of this style of mineralization and alteration combined with the geophysicaltargets as being significant and is strong evidence for a large buried copper gold porphyry system.OutcropQuartz-magnetiteVein stockwork+ Au, CuTalus coveredIP InversionLine 3440E Caballos11

Mogote Copper-Gold-Silver ProjectGRG optioned Mogote copper-gold-silver porphyry/epithermal project in San Juan Provinceto Vale S.A. of Brazil, the second largest mining company in the world by market capitalization.In January 2012, Vale commenced a 4,700m drill program on Mogote commenced.Option terms:NGEx Vale can earn an initial 70%interest by completing $6.8million US in explorationexpenditures and making $2.3million US in cash payments toGRG over three years Vale is committed to spend$2.8 million US in explorationexpenditures by September2012Teck12

Mogote Copper-Gold-Silver ProjectMOG-04-1:0.23 g/t Au, 0.17% Cu & 2.6 g/t Ag over 495.3mincluding 0.2 g/t Au, 1.9 g/t Ag & 0.29% Cu over 88mTrench 10.33 g/t Au, 0.20% Cuand 2.7 g/t Ag over 500 metres Property is 8.3 km 2 and 100% owned Drill programs: 2004 – 5 hole, 1475m diamond drill; 2005 9 hole, 2577m RC drill Drilling confirmed the presence of a large copper‐gold porphyry system, with significantcopper‐gold intercepts including 495.3m averaging 0.23 g/t gold and 0.17% copper from MOG‐1A Vale commenced a 4,700m drill program January 201213

Other Portfolio HighlightsPotrerillos Gold-Silver Project 4 km 2 project, 100% owned, located 8 km east of Veladerogold-silver mine Access provided by all-season Veladero mine road whichpasses immediately south of the project Six distinct target areas delineated and only two partlytested by the 3-hole 508m 2011 diamond drilling program;highlights included 1m @ 1.57 g/t Au and 145.9 g/t Ag(POT11-1) and 3m @ 131.9 g/t Ag (POT11-3)Pescado Gold Project Optioned to Coronation Resources Inc. 100 % owned 25 km 2 property Strategically-located immediately south andsouthwest of Yamana’s Gualcamayo Gold Mine in asimilar geological environment and structural setting Several significant gold targets have been identified Work completed to date include prospecting,geological mapping, silt, soil, and rock geochemistryand airborne geophysics14

Project Pipeline Strategy15

Management & DirectorsJOSEPH GROSSO – President, CEO & DirectorMr. Grosso is a respected entrepreneur who is a specialist in financing, negotiations,corporate and marketing strategy, and socio economic commitment. He was one ofthe early pioneers of the mining sector in Argentina in 1993 when mining wasopened to foreign investment, and was named Argentina's 'Mining Man of The Year'in 2005. His knowledge of Argentina was instrumental in attracting a premier teamwhich led to the acquisition of key properties in Argentina.Mr. Grosso is the President and founder of Grosso Group Management Ltd. whichprovides strategic services to public member companies. He has successfullyformed strategic alliances and negotiated with mining industry majors such asBarrick, Teck, Newmont and Viceroy (now Yamana Gold) and government officials atall levels.Mr. Grosso is a proponent and passionate ambassador of good mining practices. Hehas been able to form a committed management group comprised of professionalswho are extremely sensitive to the needs of working in mining regions. Strongemphasis is placed on community relations and building strong ties with localgovernments as key components for success.16

Management & DirectorsGERALD G. (GERRY) CARLSON Ph.D., P.Eng . - Head of ExplorationDr. Carlson has been involved for over 35 years in managing mineral exploration and miningdevelopment companies. His experience has focused on precious and base metal deposits aroundthe Pacific Rim, including western North America, Mexico, Central America, South America, Australiaand Asia. This experience has included independent consulting assignments, management of majorcompany exploration programs, junior mining companies, university level teaching, and professionalgeosciences association roles. Dr. Carlson is currently a Director of several other junior mineralexploration companies, including Almaden Minerals Ltd.BASSAM MOUBARAK CA - Chief Financial Officer & Corporate SecretaryMr. Moubarak is a Chartered Accountant with expertise in corporate finance, corporate reporting, financial processes, financing and riskmanagement. Prior to joining Golden Arrow, he was Chief Financial Officer of Petaquilla Minerals Ltd. where he was instrumental inraising in excess of $120 Million to develop and bring into production the Molejon Gold Mine, and assisted in the sale of PetaquillaCopper Ltd to Inmet Mining Corporation. He also previously held the position of Senior Manager with the public accounting firm ofDeloitte & Touche LLP., where he led audits of public companies and oversaw SOX 404 implementations with specific emphasis on themining industry.BRUCE SMITH MSc, MEng, AUSIMM – Argentina Exploration ManagerPart of the team that discovered the AngloGold Ashanti's Siguiri Gold Mine, in Guinea and the Castle Gold Corp’s EL Sastre GoldMine, in Guatemala, Mr. Smith has spent over 16 years exploring for metals in Australia, New Zealand, Philippines, West Africa,and Europe including 7 years working in the Americas. He manages the exploration office in Argentina, and has a BSc and MScGeology from Otago, New Zealand, and his MEng in Water and Environmental Resource Management, from Delft Netherlands.17

DirectorsLEONARD HARRIS PEng- DirectorMr. Harris worked for Newmont Mining Corp. for 21 years, holding numerous positions including as Manager ofMinera Yanacocha where he was responsible for construction and operation of Yanacocha Gold Mine, and as VPof Newmont Latin America.NIKOLAOS CACOS MIM, BSc - DirectorMr. Cacos brings over 18 years of management expertise in the mineral exploration industry. He has extensiveexperience in administering and providing strategic advice to public companies in a diverse range of industries.DAVID J. HORTON MBA, BComm - DirectorMr. Horton is the Senior VP Corporate Finance at Canaccord Capital Inc. and adds a broader third party dimensionthrough the many areas of his professional involvement in structuring, advising and financing numerous publiccompanies.JOHN B. GAMMON PhD - DirectorDr. Gammon has an outstanding record in mineral exploration and management, including international positionswith Falconbridge. He served as the Ontario Assistant Deputy Minister Mines and Minerals, and is a consultantworking with industry, governments and universities.18

Opportunity1% Royalty on Yamana Gold Inc.’s Gualcamayo Gold Mine in ArgentinaActive exploration and generative programs – leveraging exploration exposure anddollars through strategic joint venturesCurrently drilling Chinchillas to confirm and expand known silver-lead-zinc mineralizedzonesOption agreement with Vale SA, the world’s second largest mining company by marketcapitalizationStrong property base in Argentina – over 30 projects, 7 at the drill-ready stage*Company offers leverage to investors with 55.2M shares outstanding and a healthytreasuryStrong management team and board of directors with history of discovery success, andlong-term industry experience.* 3 Properties under JV19

Capital StructureAs at May 1, 2012Options Out: 4,113,000 | Avg. Price: $0.45Shares Issued: 55,263,655Warrants: 0Options: 4,113,000Fully Diluted: 59,376,655Options Outstanding Grant Price Expiry Date Value563,000 $1.00 10-Sep-12 $563,0001,395,000 $0.35 07-May-14 $488,250100,000 $0.36 31-Mar-15 $36,000150,000 $0.36 22-Apr-15 $54,000885,000 $0.35 01-Oct-15 $309,75075,000 $0.38 29-Oct-15 $28,500870,000 $0.40 03-Nov-15 $348,00075,000 $0.31 03-Aug-13 $23,25020

ContactCorporate Head-Office:Suite 709, 837 W Hastings STVancouver, BC, Canada V6C 3N6Telephone: 604 687 1828Toll free: 1 800 901 0058info@goldenarrowresources.comArgentina Exploration Office:Sobremonte 5795500 - MendozaArgentinaTSX.V: GRG; Frankfurt: GACwww.goldenarrowresources.com21