Attention Business Editors:

Canadian Arrow Mines files NI 43-101 resource estimate for Kenbridge Nickel-Copper Deposit and provides exploration update

     SUDBURY, ON, May 7 /CNW/ - Canadian Arrow Mines, Ltd. (TSX-V: CRO) has
filed on SEDAR (www.sedar.com) a final, National Instrument 43-101 compliant
report entitled "Mineral Resource Estimation for the Kenbridge Nickel - Copper
Project, Ontario, Canada" which has been completed by SRK Consulting (Canada)
Inc. A summary version of this report was press released by the Company on
March 22, 2007.
     The SRK estimate includes the following Inferred Mineral Resources:
     -  2.1 million tonnes of Inferred resource grading an average of 0.58%
        nickel and 0.26% copper contained within the upper 150m of the deposit
        at a cut-off of 0.3% nickel.
     -  1.1 million tonnes of Inferred resource grading an average of 1.01%
        nickel and 0.52% copper contained below the 150m level of the deposit
        at a cut-off of 0.7% nickel.
     SRK qualifies the Mineral Resources above the 150m level with a higher
confidence classification (higher density of drill holes) and a higher
probability of being upgraded to Indicated (ID) category after additional
verification drilling. The Mineral Resources below the 150m level are
characterized by sparse drill spacing and could be partially upgraded to
indicated category after additional drilling and a more comprehensive
understanding of geological and grade distribution.
     SRK considers that the resource estimate for the Kenbridge Project
represents a 'starting point' or framework upon which to base future
exploration. SRK believes that if best practice guidelines are used in future
drilling, that there is a strong potential to upgrade the classification of
Mineral Resources to Indicated with additional drilling. Among their
recommendations for the property were the following:
     -  to complete a strategically designed verification drilling program
        (including twin holes) to validate historical drilling;
     -  infill drilling with inclined angle boreholes; and
     -  to investigate the geological and structural control on the sulphide
        mineralization and of the 3D continuity of higher grade zones
     To that end, the Company is currently completing a Phase 1 exploration
program which consists of 5,000 metres of Diamond drilling targeted on the
shallow portion of the deposit above 150 metres vertical depth. According to
SRK, additional verification drilling on this portion of the deposit will
likely result in the upgrading of the Inferred Resource to an Indicated
Mineral Resource. To date a total of nineteen (19) drill holes have been
completed for a cumulative 1,650 metres of drilling. The first four holes have
been split for sampling and samples shipped to the assay lab for analysis. The
intention of this phase of drilling is to provide assay data for the upper
part of the deposit in order to aid in the design of an open pit. Holes are
being drilled on 30 metre spaced sections over the entire length of the
surface exposure of the deposit which is approximately 250 metres long and up
to 50 metres wide. It is thought that this drilling will be sufficient to
upgrade this portion of the Inferred Resource to an Indicated status.
     Additionally, several of the holes will be targeted to investigate the
continuity of higher grades zones which have been identified within the
deposit.
     Upon completion of the first phase of drilling, Canadian Arrow will begin
infill drilling on the deeper areas of the deposit below 150 metres. This
phase of drilling will also explore for additional sulphide zones in proximity
to known mineralization and within the Kenbridge property boundaries.
     A summer mapping and prospecting program will be initiated on the
Company's other exploration projects in northwestern Ontario including the
Chief Peter Lake and Denmark Lake properties prior to the start of a drilling
program. Canadian Arrow's objective is to determine the economics of
developing the Kenbridge Nickel Deposit while adding to the existing mineral
resource through exploration of its high potential targets in northwestern
Ontario.
     The exploration program is being carried out under the direction of the
Company's Vice President Exploration, Todd Keast, P. Geo., a qualified person
as defined by National Instrument 43-101. The information in this release was
prepared under the direction of Dean MacEachern, Chief Executive Officer for
the Company, a qualified person as defined by National Instrument 43-101.
     About Canadian Arrow Mines, Ltd.
     Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".
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For further information: visit the website at www.canadianarrowmines.ca, or
call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd., Dean
MacEachern, CEO, Tel: (705) 673-8259, E-mail: dean@canadianarrowmines.ca;
CHF Investor Relations, Barry Leung, Tel: (416) 868-1079 ext. 247, E-mail:
barry@chfir.com; or Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, E-mail:
cathy@chfir.com