Canadian Arrow Mines completes private placement



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
    NEWSWIRE SERVICES/

    Shares Outstanding: 63,171,472

    SUDBURY, ON, Feb. 1 /CNW/ - Canadian Arrow Mines Ltd. (CRO: TSX-V) (the
"Company") is pleased to announce the completion of a private placement of
5,757,143 shares at $0.28 per share and 4,300,000 shares on a "flow-through"
basis at $0.35 per share for aggregate gross proceeds of $3,117,000. In
addition, the Company issued 667,929 shares and 301,714 compensation warrants
to Versant Partners Inc. who acted as agent in connection with the private
placement. Each compensation warrant entitles the holder to purchase one share
at a price of $0.28 per share until June 30, 2009. The securities issued are
subject to a four month hold period.
    The Company plans to use the net proceeds of this financing to continue
exploration on its mineral properties and for general working capital
purposes.

    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".

    
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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, Barry Leung, Tel: (416)
868-1079 ext. 247, E-mail: barry@chfir.com; or Cathy Hume, CEO, (416) 868-1079
ext. 231, E-mail: cathy@chfir.com

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