Canadian Arrow renegotiates exploration option with San Gold
SUDBURY, ON, Dec. 20, 2013 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) Canadian Arrow Mines Limited ("Arrow") today announced that it has closed the previously announced (See press release dated December 2, 2013) purchase by San Gold Corporation (TSX: SGR) (OTCQX: SGRCF) ("San Gold") of a 100% interest in 49 mineral claims (the "Mineral Claims") in the Atikwa and Turtlepond regions located northeast of Rainy River, Ontario. The Mineral Claims are contiguous with and surround San Gold's Atikwa Project which includes the past producing Maybrun copper-gold mine previously acquired from Opawica Explorations Inc. As consideration for the Mineral Claims, San Gold issue to Canadian Arrow 1,750,000 common shares of San Gold and paid Canadian Arrow $150,000 in cash. The consideration is currently being held in escrow pending the registration of the transfers.
Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com
This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.
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SOURCE Canadian Arrow Mines LimitedFor further information:
For further information: visit the website at www.canadianarrowmines.com, or contact Mr. Dean MacEachern, CEO at (705) 673-8259.