/NOT FOR DISTRIBUTION TO THE UNITED STATES/
TSX Venture Exchange
(TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC, Jan. 19,
2024 /CNW/ - Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),
("Golden Arrow" or the "Company") is pleased to announce
a non-brokered private placement financing of up to 12,000,000
units at a price of $0.05 per unit
(the "Units") for gross proceeds of $600,000.
Each Unit will consist of one common share and one transferrable
common share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder thereof to purchase one additional common share
in the capital of the Company at $0.10 per share for three (3) years from the date
of issue.
"We anticipate strong news flow for the Company this year,
with our fully funded detailed exploration and resource delineation
drill program starting this quarter at our advanced San Pietro
project. This will be further bolstered by the prospect of news
from our joint-venture partners on our Mogote and Caballos
projects." stated Joseph
Grosso, Chairman, CEO and President of Golden Arrow.
The Company's flagship San Pietro IOCG Project in Chile is funded to support a resource
delineation program through the recently announced option agreement
(see News Release dated January 12,
2024). The proceeds of this financing will provide funds for
other early-stage exploration work in Argentina as well as the necessary funds for
general working capital.
This financing is subject to regulatory approval and all
securities to be issued pursuant to the financing are subject to a
four-month hold period under applicable Canadian securities laws.
Directors, officers and employees of the Company may participate in
a portion of the financing. A commission may be paid on a portion
of the financing. The proceeds of the financing will be used for
general working capital and exploration on its properties in
Argentina.
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration
company with a successful track record of creating value by making
precious and base metal discoveries and advancing them into
exceptional deposits.
Golden Arrow is actively
exploring its flagship property, the advanced San Pietro iron
oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly
125,000 hectares of prospective properties in Argentina.
The 100%-held San Pietro Project covers nearly 18,500 hectares,
approximately 100 kilometres north of Copiapo in the centre of a
potential new copper-cobalt region within an active mining district
that is home to all the major iron oxide-copper-gold ("IOCG")
deposits in Chile. San Pietro
hosts multiple targets with strong IOCG+cobalt mineralization, and
the Company is working to delineate its first mineral resource for
the project in 2024.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
Neither 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.
The securities being offered have not been, nor will they be
registered under the United States Securities Act of 1933, as
amended, or state securities laws and may not be offered or sold
within the United States or to, or
for the account or benefit of, U.S. persons absent U.S. federal and
state registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an
offer for sale of securities in the
United States.
SOURCE Golden Arrow Resources Corporation
