May 2012 - Golden Arrow Resources Corporation

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