reports that it has today filed on SEDAR an amended Technical Report ('the Amended Report') to support the mineral resource estimate announced on July 31st 2015 ('the Resource'). The amended report clarifies that due to substantial changes in the Resource, the preliminary economic assessment reported in the prior Technical Report dated February 13th, 2015, which relied on an earlier mineral resource estimate, is no longer considered current and is not carried forward in the Amended Report.

Qualified Persons

The mineral resource estimate and associated Technical Report was prepared under the direction of Bruce Davis, FAusIMM, BD Resource Consulting, Inc. with contributions from Robert Sim, P.Geo, SIM Geological Inc. (SGI) and Bruce Smith, MAusIMM CP(Geo). Based on education, work experience relevant to this style of mineralization and deposit type, and membership in a recognized professional organization, both Mr. Sim and Mr. Davis are independent Qualified Persons (QP) and Mr. Smith is a non-independent QP, within the requirements of NI 43-101 for the purpose of the mineral resource estimate in the Technical Report.

The contents of the news release have been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company, and a QP under the requirements of NI 43-101.

About Golden Arrow:

Golden Arrow is a Vancouver based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. 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'
_______________________________
Mr. Joseph Grosso, Executive Chairman, President and CEO

For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: [email protected]

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained in this news release constitutes 'forward-looking statements', concerning the business, operations and financial performance and condition of.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Golden Arrow to be materially different from those expressed or implied by such forward-looking statements. Golden Arrow believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this press release should not be unduly relied upon. This information speaks only as of the date of this news release. In particular, this release may contain forward-looking information pertaining to the following: the likelihood of completing and benefits to be derived from the Arrangement; potential to reduce capital at Chinchillas, financial returns to shareholders, the Benefits of the Transaction; the closing of the Transaction, the exercise of the option by Silver Standard and the receipt of the necessary shareholder and other approvals.

There can be no assurance that such statements will prove to be accurate and may differ materially from those anticipated in this forward looking information. Accordingly, readers should not place undue reliance on forward-looking statements. These factors are not, and should not be construed as being, exhaustive. Statements relating to 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Golden Arrow does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in their respective expectations except as otherwise required by applicable legislation.

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.