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Canadian Arrow Mines acquires four nickel-copper properties

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NYBob Member Level  Thursday, 01/04/07 05:44:22 AM
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Canadian Arrow Mines acquires four nickel-copper properties
in the Atikokan area of northwestern Ontario
SUDBURY, ON, Jan. 3 /CNW/ -

Canadian Arrow Mines, Ltd.
(CRO: TSX-V) (the "Company") is pleased to report the
signing of two different option agreements to acquire
a 100%-interest in the Chief Peter Lake Property
and 100%-interest in the Eva Lake Property,
the Kawene Property
and the Abiwin Property,
all located near Atikokan, northwestern Ontario.

All these new acquisitions are situated in areas that cover
a number of historical nickel, copper and platinum
element group (PGM) showings.

The Chief Peter Lake Property covers three
ultramafic intrusions with trench samples of
2.2% Cu, 0.5% Ni, and 2.1 g/t PGM.

The Eva Lake Property consists of an ultramfic intrusion
with known surface showings returning grab samples
assaying 1.29% Cu, 0.39% Ni, and 2.1 g/t PGM.

The Kawane Property and the Abiwin Property host
ultramafic intrusions with surface showings comparable
to the above mentioned properties.
All these new acquisitions have not been evaluated
with significant diamond drill programs, nor have they
been explored with modern geophysical survey methods.

Dean MacEachern, Canadian Arrow's VP Exploration, commented:
"The addition of these properties into our
exploration portfolio is consistent with our
corporate strategy and are suitable compliments to
our existing Kenbridge Nickel Deposit
and Denmark Lake Property.
The proximity of the projects to existing infrastructure
and to the Company's Kenbridge project allows us to
quickly evaluate the nickel sulphide potential of
these projects as we concurrently advance
the Kenbridge deposit."

The Chief Peter Lake property is located in an area
of excellent infrastructure and includes six claims
(68 units).
The property option requires payments from the
company totaling $75,000 and 120,000 shares over a
three-year period and the Company has to spend $136,000
in exploration expenditures over a four-year period.
The Eva Lake, the Kawene and Abiwin properties include
three claims (26 units).
The property agreement requires payments from CRO
totaling $60,000 and 62,500 shares over a three-year
period and the company is required to complete $52,000
in exploration expenditures over a four-year period.
Once the Company exercises the option, the vendors will
retain a 2% net smelter return royalty on these properties.
Both transactions are subject to regulatory approval.

"2007 is sure to be very active for Canadian Arrow
as we develop our growing property portfolio and look
forward to SRK Consulting's NI 43-101 resource estimate
on the Kenbridge Deposit," added Mr. MacEachern.
(see press release dated Dec.21,2006)

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".

If you would like to receive press releases via email
please contact:
ana@chfir.com.

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
PRESS RELEASE.

%SEDAR: 00008534E

Source: Canada NewsWire (January 3, 2007 - 9:00 AM EST)

News by QuoteMedia
www.quotemedia.com


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