Canadian Arrow Mines Commences Diamond Drilling On Atikokan Properties

Canadian Arrow Mines Commences Diamond Drilling On Atikokan Properties

Tuesday, August 5th 2008

Canadian Arrow Mines, Ltd., has commenced diamond drilling programs on its exploration projects in Northwestern Ontario. Targets to be evaluated include historical surface showings, newly uncovered areas of sulphide mineralization, and geophysical anomalies delineated during the Company’s recently completed airborne geophysical VTEM survey, (February 2008).

Todd Keast Arrow’s VP Exploration commented “The Atikokan projects represent exceptional exploration opportunities. Geological mapping and mechanical stripping have improved our understanding of the controls of mineralization and the potential for these targets to host significant mineralization. Arrow is active on these and other projects with geological, geophysical and geochemical surveys used to identify and prioritize targets.”

Eva Lake Occurrence – Disseminated mineralization at Eva Lake is contained within a 70 m by 15 m intrusion. Arrow grab sample assay results returned 2.0 gm/t PGM, 0.44% Ni, 0.59% Cu. Past exploration efforts included a single 30-m long drill hole which intersected 0.20 Ni, 0.49% Cu, 0.31 gm/t Au+Pt+Pd over a core length of 29.5 metres. The VTEM survey delineated a magnetic feature coincident with the showing which extends for a distance of 2.6 km. A second magnetic body with an associated conductor is overburden covered and presents a new exploration target.

Kawene Project – In 2007 Arrow grab sample results returned assays of 4.79 gm/t PGM. The VTEM survey has delineated a magnetic anomaly coincident with this intrusive body for a length of 600 m. Several conductive anomalies are associated with the intrusive body however drilling by previous operators did not identify the source of these conductors.

Similar ground work preparatory to drilling is undergoing in the Company’s Turtlepond Lake projects located approximately 70 kilometres east of the Company’s flagship Kenbridge nickel-copper project.

The exploration program is being carried out under the direction of The Company’s Vice President of Exploration, Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.

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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