TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, March 16, 2020 /PRNewswire/ - Golden Arrow
Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF),
("Golden Arrow" or the "Company").
Dear Shareholders,
I would like to take this opportunity to offer additional
details to support our Board of Director's initiation of a Normal
Course Issuer Bid ("a buyback") of Golden
Arrow's common shares, as announced on March 12th, 2020.
I believe that today's market sentiment has resulted in a share
price that does not reflect the Company's asset value, or our
future potential value. At this time, our asset value
includes:
- An extremely strong treasury of cash and cash equivalent
securities.
- 100% control of a large property portfolio in Argentina with substantial geological values
and work in progress.
-
- The yearly compliance fee to hold these properties in
Argentina is amongst the lowest in
the world.
- Three of Argentina's most
significant metal deposit discoveries had origins in this
portfolio: Chinchillas, Gualcamayo and Navidad.
- Golden Arrow has devoted
considerable time, expertise and investment into advancing the
portfolio to include a pipeline of mineral projects at various
stages of exploration.
In addition, our potential value includes:
- Upside in our stock portfolio.
- The discovery potential of the multiple mineral projects that
we are currently exploring in Argentina, Chile and Paraguay. Any of these projects has the
geological potential to generate significant discoveries and value
in the near future.
Golden Arrow's management has
been successfully operating in Argentina and South
America for 27 years. Our recent successes have
resulted in an enviable treasury that is enabling us to fast-track
our key projects to generate new discoveries, without creating
shareholder dilution.
I believe that the current market is creating the significant
disparity seen between the share price and the combination of our
asset value and exploration potential. This has created the
opportunity for management to initiate an economical buyback of up
to 10% of the public float of our shares, as approved by the TSX
Venture Exchange. This will benefit the shareholders by
increasing their proportionate share interest, increasing liquidity
provide long-term benefits afforded by a tighter structure.
As President and Chairman of the Board I would like to convey my
appreciation of your continued support and look forward to being
able to share with you the news of our next big discovery.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
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. The Company is well-leveraged to the price of
gold, having recently monetized its Chinchillas silver discovery
into a significant holding in precious metals producer SSR Mining
Inc.
Golden Arrow is actively
exploring a portfolio that includes advanced projects in
Chile, a district-scale frontier
opportunity in Paraguay, and more
than 185,000 hectares of properties in Argentina.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
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.
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SOURCE Golden Arrow Resources Corporation