Canadian Arrow Mines Commences Diamond Drilling On Atikokan Properties



    SUDBURY, ON, Aug. 5 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company"), has commenced diamond drilling programs on its exploration
projects in Northwestern Ontario. Targets to be evaluated include historical
surface showings, newly uncovered areas of sulphide mineralization, and
geophysical anomalies delineated during the Company's recently completed
airborne geophysical VTEM survey, (February 2008).

    Todd Keast Arrow's VP Exploration commented "The Atikokan projects
represent exceptional exploration opportunities. Geological mapping and
mechanical stripping have improved our understanding of the controls of
mineralization and the potential for these targets to host significant
mineralization. Arrow is active on these and other projects with geological,
geophysical and geochemical surveys used to identify and prioritize targets."

    Eva Lake Occurrence - Disseminated mineralization at Eva Lake is
contained within a 70 m by 15 m intrusion. Arrow grab sample assay results
returned 2.0 gm/t PGM, 0.44% Ni, 0.59% Cu. Past exploration efforts included a
single 30-m long drill hole which intersected 0.20 Ni, 0.49% Cu, 0.31 gm/t
Au+Pt+Pd over a core length of 29.5 metres. The VTEM survey delineated a
magnetic feature coincident with the showing which extends for a distance of
2.6 km. A second magnetic body with an associated conductor is overburden
covered and presents a new exploration target.

    Kawene Project - In 2007 Arrow grab sample results returned assays of
4.79 gm/t PGM. The VTEM survey has delineated a magnetic anomaly coincident
with this intrusive body for a length of 600 m. Several conductive anomalies
are associated with the intrusive body however drilling by previous operators
did not identify the source of these conductors.

    Similar ground work preparatory to drilling is undergoing in the
Company's Turtlepond Lake projects located approximately 70 kilometres east of
the Company's flagship Kenbridge nickel-copper project.

    The exploration program is being carried out under the direction of The
Company's Vice President of Exploration, Todd Keast P. Geo., a qualified
person as defined by National Instrument 43-101. The information in this
release was prepared under the direction of Kim Tyler, P. Geo., President of
the Company, a qualified person as defined by National Instrument 43-101.

    About Canadian Arrow Mines, Ltd.

    Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".

    Investors are invited to visit Canadian Arrow's IR hub at
http://www.agoracom/IR/CanadianArrow where they can post questions and receive
answers within the same day, or simply review questions and answers posted by
other investors. Alternately, investors are able to e-mail all questions and
correspondence to CRO@agoracom.com where they can also request addition to the
investor e-mail list to receive future press releases and updates in real
time.

    If you would like to receive press releases via email please contact:
    mirna@chfir.com.

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

    THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS PRESS
    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, R. Kim
Tyler, P. Geo Ltd., President, Tel: (705) 673-8259, E-mail:
kim@canadianarrowmines.ca; CHF Investor Relations, Barry Leung or Alison
Tullis, Tel: (416) 868-1079 ext. 222, Tel: (416) 868-1079 ext. 233, E-mail:
barry@chfir.com, E-mail: alison@chfir.com

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