SUDBURY, ON, Feb. 22 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company") reports that exploration programs are underway at several locations
on the companies Denmark Lake property, which are situated adjacent to Opawica
Resources Ltd. recently announced (Feb 21, 2008) Atikwa Au-Cu discovery.
Opawica reported 0.87% Cu and 4.08 g/t Au over a core length of 46 metres. The
Atikwa Au-Cu discovery and Kenbridge deposits are situated 7 km apart along a
prominent NE/SW structure (Map 1: http://files.newswire.ca/614/Arrow.pdf).
Arrow's exploration on the Denmark Lake property includes mechanical
stripping, linecutting, and geophysical surveys. Diamond drilling is currently
underway at one occurrence (historical intersection of 0.78% Ni and 0.78% Cu /
15m) located 3.75km south of the Atikwa discovery. Drilling will eventually
test the Apex Ni-Cu occurrence which hosts an historical resource(*) of 237,600
tonnes of 1.03% Cu, 0.56% Ni (OGS - OFR 6127, 2004).
Todd Keast Arrow's VP Exploration, commented "The recent discovery
announced by Opawica further demonstrates Arrow's confidence in the mineral
potential of this largely under-explored region. Arrow holds claims covering
approximately 12 km of this important structure extending north and south of
the Atikwa discovery. A number of poorly documented gold showings including
several with underground operations are located on and adjacent to Arrow
claims. The Virginia Mine, the Chipman Mine, and the Empire Lake Mine have
historical production dating from the early 1900's. A review of the gold
showings on Canadian Arrow claims is certainly warranted in light of the
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.
(*) The estimate of historic resource predates and is non-compliant with
NI 43-101. Arrow is not treating the historical estimate as a
current mineral resource or reserve. Arrow has not undertaken an
independent investigation of the resource estimate nor has it
independently analyzed the results of the previous exploration work
in order to verify the resource, and therefore the historical
estimate should not be relied upon.
The Company also announces that, subject to regulatory approval, incentive
stock options have been granted to certain directors, officers and employees
entitling them to purchase up to 1,900,000 shares of the Company at a price of
$0.28 per share, exercisable until February 21, 2013.
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:
firstname.lastname@example.org; CHF Investor Relations, Barry Leung, Tel: (416)
868-1079 ext. 222, E-mail: email@example.com, or Cathy Hume, CEO, Tel: (416)
868-1079 ext. 231, E-mail: firstname.lastname@example.org