Silver Standard Exercises Option to Form Joint Venture With Golden Arrow for the Chinchillas-Pirquitas Project

Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), “Golden Arrow” or the “Company”) is pleased to announce that the Company has received the required notice from Silver Standard Resources Inc. (TSX – SSO; NASDAQ – SSRI, “Silver Standard”) to exercise its option on the Chinchillas project and form a joint venture to combine the Chinchillas project with the producing Pirquitas Mine into a single new operation. The joint venture will be owned on a 75% / 25% basis by each company, respectively. Silver Standard will be the operator.
As quoted in the press release:

“This is a landmark achievement for our Company,” stated Joseph Grosso, Executive Chairman, President and CEO of Golden Arrow. “As Golden Arrow transitions an exploration discovery into a mining operation, our shareholders stand to benefit from this profile and strengthened financial position.”

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Source: ir.silverstandard.com