SUDBURY, Nov. 15 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company), is pleased to announce further advancement of its Kenbridge Nickel
Project in Northwestern Ontario with the purchase of a headframe and hoisting
equipment. The equipment includes a 102 ft. pre-engineered head frame, a
10 ft. diameter double drum mine hoist, 400 hp electric motors and
conveyances. The timing of the purchase coincides with Canadian Arrow's
planned 2008 advanced exploration program which includes dewatering of the
existing 2,000 ft. Kenbridge shaft and diamond drill exploration below the
"In a period of escalating equipment prices and long lead times in the
industry, the acquisition of these assets provides the Company with yet
another advantage to develop Kenbridge quickly and cost effectively", adds
Garett Macdonald, Vice President of Operations. "The equipment purchased is in
excellent condition, with the hoist completely rebuilt in 1996 and never used.
By mid 2008 we intend to have the hoist and head frame installed, with shaft
dewatering and rehabilitation underway. Having these assets in place will
allow the Kenbridge Nickel Project to realize significant savings in capital
cost and development time."
Canadian Arrow purchased the equipment from Mackwood Mine Services of
Elliot Lake, Ontario. Mackwood is a specialist in providing valuations,
procurement and sales of surplus mining assets and equipment to the mining
Canadian Arrow continues to advance the Kenbridge Nickel Project with the
completion of open pit drilling, and drilling of the underground resource is
now in full progress and environmental baseline studies nearing completion.
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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RESPONSIBILITY FOR ITS CONTENTS.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS PRESS
This news release may contain certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with The TSX
Venture Exchange, Canadian Securities Commissions, and the United States
Securities & Exchange Commission. Not to be construed as an offer to buy or
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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. 247, E-mail: email@example.com; Cathy Hume, CEO, Tel: (416)
868-1079 ext. 231, E-mail: firstname.lastname@example.org