Golden Arch Resources Ltd. Arranges $1 Million Funding for Exploration on Four Properties



    
    GAI: TSX Venture                                   Exemption 12g3 - 2(b)
    GARCF: O.T.C                                        SEC File No. 82-659

                         www.goldenarchresources.com
    

    VANCOUVER, Oct. 29 /CNW/ - Les Kjosness, President is pleased to announce
two private placements for a total of almost $1,000,000, subject to regulatory
approval. The first is a brokered flow-through private placement for
$499,999.92Cdn consisting of 4,166,666 units at $0.12Cdn. Each unit is
comprised of one flow-through common share and one full, non-flow-through
common share purchase warrant. Each warrant entitles the holder to purchase
one additional common share at an exercise price of $0.30Cdn per share for the
first twelve months and $0.50Cdn during the second twelve months from
approval. There is a finders' fee of 7 per cent payable in respect of this
placement to be paid half in cash and half by the issue of 145,833 common
shares at a deemed price of $0.12Cdn per share. There is also a broker's
warrant to be issued for the purchase of 208,333 common shares at an exercise
price of $0.12Cdn for the first twelve months and $0.15Cdn for the second
twelve months from time of approval. These funds will be used for further
exploration on the Company's Abbott/Wagner silver/lead/zinc prospect in
British Columbia and the Wakefield Lakes zinc prospect in Saskatchewan.
    The second private placement is a non-brokered placement for $499,999.92
consisting of 4,166,666 units at $0.12Cdn. Each unit is comprised of one
common share and one full share purchase warrant. Each warrant entitles the
holder to purchase one additional common share at an exercise price of
$0.30Cdn per share the first twelve months and $0.50Cdn for the second twelve
months. There is a finders' fee payable in respect of this placement of 7 per
cent by way of the issuance of 291,666 common shares at a deemed price of
$0.12Cdn. These funds will be used to further develop the Company's U.S. based
projects. Exploration will now continue on the Company's Mildred Peak, Arizona
gold//silver/copper project and on our Antelope North oil prospect in Clay
County, Texas.

    On behalf of the Board,
    "Les Kjosness"

    President & Director

    The Company's exploration program is under the supervision of R.D.
Somerville, P. Eng., a Qualified Person under National Instrument 43-101. Mr.
Somerville is Vice President and COO of Golden Arch Resources Ltd.

    Golden Arch Resources Ltd. is a metals, oil, and gas and exploration
company based in Vancouver, BC, Canada. Its principal assets are the Mildred
Peak copper/gold/silver property located in Arizona, the newly acquired
Wakefield Lakes zinc project in Saskatchewan and the Abbott/Wagner
silver/lead/zinc property in British Columbia.

    "The TSX Venture Exchange assumes no responsibility for the accuracy of
    this Release and neither approves nor disapproves thereof."





For further information:

For further information: Les Kjosness: goldenarch@telus.net; Media:
Kirsti Mattson: kusickmattson@yahoo.ca

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GOLDEN ARCH RESOURCES LTD.

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