October 14, 2008

Arrow Mines options 2 more nickel copper properties at Ontario

Canadian Arrow Mines Limited announced the completion of an option agreement on two more nickel copper properties located about 40 kilometer south of Dryden at Ontario and in close proximity to its recently acquired Glatz property.

Canadian Arrow said that “The Emmons Occurrence is located about 2.5 kilometers north of the Glatz Occurrence and about 37 kilometer east of Arrow's flagship Kenbridge property. Nickel copper sulphide mineralization exposed on surface is hosted within a differentiated pyroxene gabbro intrusive body that trends from the north and curves to the southeast. Six out of ten shallow exploratory diamond drill holes drilled in 1960 reported significant intersections that included 1.34% Ni and 1.02% Cu over 4.4 million, 0.85% Ni and 0.80% Cu over 3.5 million and 0.54% Ni and 0.65% Cu over 5.2 million.”

Canadian Arrow added that “The Prigg Occurrence is located about 2.5 kilometers east of the Emmons property and occurs in a similar geological setting. Blebby to semi massive sulphides at surface are contained within a gabbro host. The same 1998 reconnaissance program noted above at Emmons also yielded selected surface grab sample assays in excess of 1% Ni and Cu.”

The option agreement for both properties requires payments from the Company of CAD 100,000 and CAD 200,000 shares over a three year period and the Company has to spend CAD 200,000 in exploration expenditures over a four year term. Once the Company exercises the option the vendors will retain a 2% net smelter royalty on these properties. The transaction is subject to regulatory approval.

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.