Canadian Arrow Renegotiates Exploration Option with San Gold

SUDBURY, ON, Dec. 2, 2013 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) 
Canadian Arrow Mines Limited ("Arrow") today announced that it has entered 
into a purchase and sale agreement (the "Purchase Agreement") with San Gold 
Corporation (TSX: SGR) (OTCQX: SGRCF) ("San Gold") providing for the purchase 
by San Gold of a 100% interest in 49 mineral claims (the "Mineral Claims") in 
the Atikwa and Turtlepond regions located northeast of Rainy River, Ontario. 
The Mineral Claims are contiguous with and surround San Gold's Atikwa Project 
which includes the past producing Maybrun copper-gold mine previously acquired 
from Opawica Explorations Inc. As consideration for the Mineral Claims, San 
Gold shall issue to Canadian Arrow 1,750,000 common shares of San Gold and 
shall pay Canadian Arrow $150,000 in cash. 
Canadian Arrow and San Gold are parties to an option agreement dated June 25, 
2012 (the "Option Agreement") pursuant to which San Gold holds an option to 
acquire an 80% interest in all precious metals, including but not limited to 
gold and silver but specifically excluding platinum and palladium, on the 
Mineral Claims as well as certain other mineral claims (including the 
Kenbridge and Alexo properties) in consideration for undertaking certain 
exploration expenditures on the Mineral Claims and the purchase of certain 
securities of Canadian Arrow. The Purchase Agreement will replace the Option 
Agreement and upon closing of the acquisition of the Mineral Claims by San 
Gold, the Option Agreement will be of no further force or effect and San Gold 
will have no option to earn an interest in precious metals discovered on 
Arrow's Kenbridge or Alexo properties. 
"This agreement allows Arrow to retain its interests in Kenbridge and Alexo 
nickel-copper projects while monetizing the Atikwa and Turtlepond properties. 
Arrow retains an option to back in on base metal discoveries made on the 
Mineral Claims under certain circumstances," said Dean MacEachern, Arrow's CEO. 
The sale of the Mineral Claims is subject to certain closing conditions 
including all requisite regulatory approvals, including the approval of the 
Toronto Stock Exchange in the case of San Gold. It is anticipated that the 
closing of the sale and purchase of the Mineral Claims by Arrow and San Gold 
will take place in the upcoming weeks. 
Additional information relating to Canadian Arrow is available on SEDAR at 
This press release may contain "forward-looking statements" within the meaning 
of the Canadian securities legislation and the United States Private 
Securities Litigation Reform Act of 1995. These forward-looking statements are 
made as of the date of this press release and the Company does not intend, and 
does not assume, any obligation to update these forward-looking statements. 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release.

SOURCE  Canadian Arrow Mines Limited 
visit the website, or contact Mr. Dean 
MacEachern, CEO at (705) 673-8259. 
To view this news release in HTML formatting, please use the following URL: 
CO: Canadian Arrow Mines Limited
ST: Ontario
-0- Dec/02/2013 22:41 GMT
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