Grant of Stock Options - Amended

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2017) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO OR THROUGH US NEWSWIRE SERVICES

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(OTCQB:GARWF)(WKN:A0B6XQ) ("Golden Arrow" or the "Company") announces that further to the Company's news release dated June 22, 2017, the amended price of the stock options is $0.62 per share. The number of incentive stock options to consultants, management company employees, officers and directors of the Company to purchase up to 3,570,000 common shares in the capital stock of the Company are exercisable for a period of five years, and subject to a four-month hold period.

About TSX Venture 50?,,?
The TSX Venture 50?,,? are the top 10 companies listed on the TSX Venture Exchange, in each of the five major industry sectors - mining, oil & gas, clean technology & life sciences, diversified industries and technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2016.

About Golden Arrow:
Golden Arrow Resources Corporation is an exploration company with a track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow will earn production income from its 25% share of the Chinchillas-Pirquitas silver mining project, a joint venture with Silver Standard, with more than 8 years of planned production and upside potential. Golden Arrow is actively exploring its portfolio of 200,000 hectares of properties in Argentina, including the new Antofalla silver-gold-base metal project with similarities to Chinchillas.

About Grosso Group:
Grosso Group Management Ltd. is a private management company founded in 1993, recognized as a leading pioneer of mineral exploration in South America. The group operates with the objective of creating investor value through the growth of the publicly listed member companies, which include: Golden Arrow Resources Corp., Blue Sky Uranium Corp., and Argentina Lithium & Energy Corp.

Golden Arrow was recognized as a TSX Venture 50?,,? company in 2017. TSX Venture 50?,,? is a trademark of TSX Inc. and is used under license.

ON BEHALF OF THE BOARD

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.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

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.