Canadian Arrow Mines files positive Preliminary Economic Assessment Report for Kenbridge Nickel Project



    SUDBURY, ON, Feb. 26 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company") is pleased to report that it has filed on SEDAR, (www.sedar.com), a
positive Preliminary Economic Assessment Technical Report on its Kenbridge
Nickel Project. The report is also available on the Company's website.
Canadian Arrow had previously reported the Kenbridge Preliminary Economic
Assessment on January 21, 2008, stating;

    
    -   Total recoverable metal production of 71.2 million lbs of nickel and
        49.6 million lbs of copper from a combined open pit and underground
        mining operation;
    -   A pre-tax net present value of $CD 134M at a 7.5% discount rate and;
    -   An IRR of 33%.
    

    The PEA Technical Report concludes that, "The Kenbridge project has a
highly promising resource which at base case nickel and copper prices would
provide Canadian Arrow with good financial returns and a relatively quick
payback (2.8 years) of the initial capital investment."
    The report is co-authored by WMT Associates of Oakville, Ontario, P&E
Mining Consultants of Brampton, Ontario, Micon International Limited of
Toronto, Ontario, and SRK Consulting, (Canada), of Toronto, Ontario.
    The PEA was carried out under the direction of The Company's Vice
President of Operations, Mr. Garett Macdonald, P.Eng, MBA, a qualified person
as defined by National Instrument 43-101. The information in this release was
prepared under the direction of Mr. R. Kim Tyler, P. Geo., President of the
Company, a qualified person as defined by National Instrument 43-101.

    Cautionary Statements

    Mineral resources are not mineral reserves and do not have demonstrated
economic viability. The PEA co-authors are not aware of any known
environmental, permitting, legal, title, taxation, socio-economic, marketing
or other relevant issues that could potentially affect this estimate of
mineral resources. The preliminary assessment includes inferred mineral
resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
preliminary assessment will be realized.

    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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    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, 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, Tel: (416)
868-1079 ext. 231, E-mail: cathy@chfir.com


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