Golden Arrow Appoints New Board Member to Launch New Growth Phase

Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce that Mr. Daniel Nocente has been appointed to the Board of Directors.

"I enthusiastically welcome Daniel to the Board and look forward to the contributions he will make as a director and in the advisory role he has committed to undertake. Daniel's extensive experience within the financial industry is outstanding and will accelerate Management's new strategy for growth and securing advanced mining assets that will create value for all the Company's shareholders. We are excited and look forward to working with Daniel."

Mr. Joseph Grosso, President and Chairman

Since 2003, Mr. Daniel Nocente has been Vice Chairman of National Bank Financial, Corporate and Investment Banking, and among other roles, has also served as Co Head of the Global Mining and Metals Group of National Bank Financial. Prior to joining NBF, he was Vice Chairman and the BC Geographic Head for RBC Capital Markets from 1994 to 2003. In addition, he was Managing Director and Partner of Burns Fry Limited from 1985 to 1994. Throughout his career, Daniel has held positions in Montreal, Toronto, Vancouver and New York. He has a BA from the University of British Columbia, an MBA from George Washington University in Washington, DC, and has completed the Executive Leadership Program at Harvard Business School. He served as a Director of the Providence Health Care Board and Canada Line Rapid Transit and also as Chairman and continues to sit on its Board of Directors of The Nature Trust of British Columbia, the third largest environmental organization in Canada. Daniel also served as Chairman of the St. Paul's Hospital Foundation and as a Director of the Arts Club Theatre Company. He currently sits on the Dean of Arts Advisory Council at the University of British Columbia.

About Golden Arrow:

Golden Arrow is a Vancouver-based explorer and prospect generator focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world-class discovery. The Company is well positioned for growth of shareholder value with the pending sale of its 1% NSR on Yamana Gold Inc.'s Gualcamayo Gold Mine to Premier Royalty for $17.75 million pending shareholder approval (details in GRG News Release dated May 24th, 2012), ongoing drilling at the advanced Chinchillas Silver project, an attractive portfolio of highly prospective exploration projects and a pipeline of new opportunities under review. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its portfolio of high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.

ON BEHALF OF THE BOARD

"Joseph Grosso"