Canadian Arrow Mines Ltd fka CDARF

[NYBob]

Canadian Arrow Mines completes shares for debt -
and relocates head office -
SUDBURY, ON, Dec. 1 /CNW/ -

Canadian Arrow Mines, Ltd. -

(CRO: TSX-V) Canadian Arrow today announced that further
to its news release of October 23, 2006, it has settled
an aggregate of $365,000 of debt by issuing a total
of 600,000 common shares of the Company at a deemed
issue price of $0.15 per share and a total
of 1,100,000 common shares of the Company at a
deemed issue price of $0.25 per share.

All securities issued pursuant to this transaction are
subject to a Canadian hold period expiring March 30, 2007.

Canadian Arrow also announced that effective
November 22, 2006, it has

changed the address of its head office as follows:

236 Cedar Street
Sudbury, Ontario
P3B 1M7
Phone: [phone]
Fax: [phone]

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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