Canadian Arrow announces proposed debt settlement



    SUDBURY, ON, June 23 /CNW/ - Canadian Arrow Mines Limited (TSXV-CRO) (the
"Company") is pleased to announce that it has received verbal acceptances and
proposes to issue approximately 570,000 common shares at a deemed issue price
of $0.07 per share in respect of liabilities accrued to May 31, 2009, for
deferred salaries, fees and expenses to its officers, directors and senior
employees.
    The debt settlement is subject to compliance with applicable securities
laws and to receipt of regulatory approval, including the approval of the TSX
Venture Exchange.

    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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    THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
    RESPONSIBILITY FOR ITS CONTENTS.

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
    THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
    

    %SEDAR: 00008534E




For further information:

For further information: visit the website at www.canadianarrowmines.ca,
or call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd., R.
Kim Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail:
kim@canadianarrowmines.ca; CHF Investor Relations, Julia Clark, Director of
Communications, Tel: (416) 868-1079 ext. 236, E-mail: julia@chfir.com


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