February 2015

Chinchillas Silver-Lead-Zinc Deposit

Technical Update GROSSO GROUP MEMBER COMPANY

Disclaimer

Forward-Looking Statements

This Presentation contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company’s

anticipated results and developments in the Company’s operations in future periods, planned exploration and development of the Chinchillas project, plans related to its business

and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance as outlined in

the PEA, including silver, lead and zinc production and planned work programs at Chinchillas. Statements concerning reserves and mineral resource estimates may also

constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the Chinchillas property is developed and, in the

case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those

expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the

currency markets (particularly the Argentinean peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or

events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company’s ability to raise financing

and fund the development of the Chinchillas project pursuant to the PEA; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty

that development activities will result in a profitable mining operation at Chinchillas; risks related to mineral resource figures being estimates based on interpretations and

assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral resources as

properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws

and regulations which may increase costs of doing business and restrict our operations; risks related to the Chinchillas property being subject to prior unregistered agreements,

transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global

economy; risks related to the Chinchillas property being located in Argentina, including political, economic, social and regulatory instability. Should one or more of these risks and

uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The

Company’s forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above,

investors should not place undue reliance on forward-looking statements.

The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in

conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities

commission or regulatory authority has reviewed the accuracy or adequacy of the information presented. The Company undertakes no obligation to publicly update or revise any

forward-looking statements.

We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral

deposits on adjacent properties are not indicative of mineral deposits on our properties.

The contents of this presentation have been reviewed and approved Mr. Brian McEwen, P.Geol., VP Exploration and Development of the Company and a Qualified Person as

defined in National Instrument 43-101.

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Chinchillas Silver Project Overview

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Updated PEA provides positive economic outlook

for 12 year open-pit mine life at 8,000 tpd:

After-tax NPV8% of $226M & 24.3% IRR

Pre-production capital costs of $237M

Cash operating cost of $9.22/oz Ag

Indicated Resource:

72.3 Moz Ag / 95.9 Moz Ag Eq

(24.6 Mt @ 91g/t Ag, 0.65% Pb, 0.31% Zn)

Inferred Resource:

40.2 Moz Ag / 68.7 Moz Ag Eq

22.0 Mt @ 57g/t Ag, 0.61% Pb, 0.68% Zn

Project remains open for expansion & New drill

targets throughout the properties

Project advancing to feasibility

4

Chinchilla and Chinchilla 1 Properties

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NI 43-101 Resource Statement

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Mineral Resource Statement for the Chinchillas Project, August 29th 2014

by Kyle Howie, MAIG, Bruce Davis, FAusIMM, Bruce Smith MAusIMM

1. The AgEq formula used is (Pb x 31.172) + (Zn x 31.172) + (Ag x 1).

2. Totals may not add correctly due to rounding

3. A resource constraining shell was developed based on metal prices of US$35.00/ounce silver, US$2.00/pound zinc and US$2.00/pound lead. Within that shell, the resource has been reported

using a cutoff grade of 40 g/t Ag Eq. The cutoff was determined using operating costs of US$16.00/tonne for processing, US$9.00/tonne for G&A (US$25.00/t total) with metal prices of

US$22.00/oz silver, US$1.00/pound zinc and US$1.00/pound lead, and a process recovery of 90%, based on the 2014 Preliminary Economic Assessment. (See reported filed on SEDAR dated

January 20th, 2014 for details.) The pit slope used for the resource shell is 45 degrees.

4. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal,

title, taxation, sociopolitical, marketing, or other relevant issues.

5. The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is

uncertain if further exploration will result in upgrading them to an Indicated or Measured category.

Resource

Class/Zone Tonnage Ag Pb Zn Ag Eq Ag Pb Zn Total

(Mt) (g/t) (%) (%) (g/t) (Moz) (Mlbs) (Mlbs)

Ag Eq

(MOz)

Indicated Resources

Silver Mantos 12.6 84.7 0.48 0.45 113.4 34.2 131.7 123.4 45.8

Mantos Basement 12.1 98.2 0.83 0.16 129.0 38.2 219.8 43.2 50.1

Total Indicated

Resources 24.6 91.3 0.65 0.31 121.1 72.3 351.5 166.6 95.9

Inferred Resources

Silver Mantos 6.2 60.1 0.59 0.62 97.8 11.9 80.3 83.7 19.4

Mantos Basement 5.3 98.8 0.85 0.11 128.8 16.7 98.9 13.1 21.8

Socavon del Diablo 7.3 27.3 0.44 1.13 76.2 6.4 70.3 182.8 17.9

Socavon Basement 3.2 49.9 0.62 0.72 91.6 5.2 44.6 51.3 9.6

Total Inferred

Resources 22.0 56.9 0.61 0.68 97.1 40.2 294.1 330.9 68.7

Mining Comparison

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Ref: www.silverstandard.com, Sept 2013 corporate presentation

>= 15

>= 25

>= 40

>= 50

>= 60

>= 70

$NSR (Blocks)

Pirquitas (Silver Standard) Chinchillas

• Favourable flat lying geometry & near surface mineralization = low strip ratio

200m

Attractive Mining Scenario

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✔Open pit amenable

Low strip ratio

Mineralization starts at surface

✔Higher grade silver core in Silver Mantos Zone

✔Multiple flat-lying mineralized zones

✔Highly Altered Rock

Infrastructure

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PEA:

Two all-season access routes

66 km High Voltage line upgrade

required;

Access to water from local and

regional wells

Thickened tailings to be stored in

lined impoundment built from mine

waste rock

OTHER ITEMS

Communications available

Other existing precious/metal mining

operations

Metallurgy

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✔ High recoveries of silver, lead & zinc (bench scale locked-cycle testing)

✔ Standard flotation methods

✔ Chinchillas to produce 2 separate saleable concentrates: silver-bearing

lead, and zinc

Lead Concentrate (Silver grades are annual averages)

Ore_1 (BAS) Ore_2 (MAN) Ore_3 (SOC)

Lead Silver Lead Silver Lead Silver

Recovery 93.5% 95.0% 95.0% 94.5% 94.5% 93.0%

Grade 70.0% 8.3 kg/t 62.2% 10.3 kg/t 66.0% 3.8 kg/t

Zinc Concentrate (Silver grades are annual averages)

Ore_1 (BAS) Ore_2 (MAN) Ore_3 (SOC)

Zinc Silver Zinc Silver Zinc Silver

Recovery 75.0% 3.0% 80.0% 2.3% 85.0% 4.0%

Grade 52% 1.3 kg/t 53.0% 271 g/t 60.0% 70 g/t

PEA Model Parameters

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Summary of Parameters Unit

Processing rate 8000 tpd

Strip Ratio 2.4:1

Average Annual Silver Production 8 Moz

Total Ag produced 90.4 Moz

Average Ag grade 85.5 g/t

Average Ag recovery (Pb Con) 94% %

Life of Mine 12 years

Total Unit operating cost $23.19 $/t feed

Total Unit cash cost without credits $9.22 $/oz Ag

From NI 43-101 Technical Report titled “Preliminary Economic Assessment Update for the Chinchillas Silver-Lead-Zinc Project, Jujuy, Argentina” by Kuchling et.al.

All values quoted in US dollars, using base case metal prices of $22 per ounce silver, $1 per pound of lead, $1 per pound of zinc.

Effective date October 30th 2014. The PEA is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.

PEA Cost Summary

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Capital Costs including 20% Contingency (US$ M)

Pre-production Capital

(Includes pre-stripping, mining capital costs, process plant, infrastructure) $237

Sustaining Capital over life-of-mine $84

TOTAL CAPITAL $321

Unit Operating Cost Assumptions Unit Cost US$/t feed

Mining – Feed $/t material $2.33 $7.90

Processing $/t feed $12.25 $12.25

Tailings $/t feed $0.09 $0.09

G&A $/t feed $2.95 $2.95

TOTAL $23.19

All values quoted in US dollars, using base case metal prices of $22 per ounce silver, $1 per pound of lead, $1 per pound of zinc.

Effective date October 30th 2014. The PEA is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.

PEA Cash Flow & Sensitivity

12

Summary of Results Before Tax After Tax

NPV 8% (millions) $372.8 $225.5

IRR 30% 24.3%

Payback period (years) 3.2 3.4

Silver Price

Per Ounce

After-tax

NPV8%

(millions)

IRR Payback Period

(years)

$17 $ 90.2 14.9% 5.2

$22 $ 225.5 24.3% 3.4

$25 $305.0 29.2% 2.6

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All values quoted in US dollars, using base case metal prices of $22 per ounce silver, $1 per pound of lead, $1 per pound of zinc.

Effective date October 30th 2014. The PEA is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.

2012 2013 2014 2015 2016

Property Acquisition

Social/Enviro

Studies

Phase I Drilling

Phase II Drilling

Metallurgy

Resource Estimate

PEA

Phase III Drilling

Resource Update

PEA Update

Phase IV Drilling

Engineering Studies

Permitting

Feasibility Program

Development

Chinchillas Path to Feasibility

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Goal is to continue rapid advancement, and move to a Feasibility Study stage

Growth Strategy

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─ Baseline resource/PEA

Completed

─ Recent resources

expansion, PEA update

─ 16-20,000 m Phase IV

program will infill to upgrade

resource categories, test

limits, and provide possible

expansion of resources

─ Subsequent programs will

target Chinchillas South

which has potential for 100

to 160 mt grading 32 to 40

g/t silver equivalent

─ ~70% of the property

remains under explored Note: Target Potential grades and quantities are conceptual in nature; there has been insufficient exploration to define a mineral resource nor is it certain that further exploration will results in the target being delineated as a resource

Chinchillas – Checks all the Boxes

Chinchillas provides investors with the potential for near term production at

anticipated low capital and operating costs.

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CATEGORY Details

Resource Significant current resource, prospective to increase

significantly, and potential to be converted to

reserves with further upside potential

Metallurgy +90% recoveries in preliminary test work.

Mining and

Processing Method Open pit 2.4:1 strip ratio with higher-grade, lower

strip ratio starter pit.

Concentrator plant process proven technology

Infrastructure Existing roads with power and water in close

proximity.

HSEC and

Permitting Good community support, existing operating mines

in close proximity

Capital Structure

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Shares Issued 48,978,789

Warrants 7,964,600

Options (avg price = $0.35) 5,685,000

Fully Diluted 62,628,389

Market Capitalization ~$12.5M

Ownership (insiders/friends/family) ~50%

Share Structure at Jan. 16 2015

Contact

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Corporate Head-Office: Suite 709, 837 W Hastings St

Vancouver, BC, Canada V6C 3N6

Telephone: 604 687 1828

Toll free: 1 800 901 0058

info@goldenarrowresources.com

www.goldenarrowresources.com

Appendix A - A Visionary

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Mr. Joseph Grosso is a respected entrepreneur with extensive international business

experience having operated for decades in North/South America as well as in various

European and Asian countries. Of Italian descent and fluent in Italian, English and

Spanish, Mr. Grosso lived in Argentina and Peru where he acquired a very deep

appreciation for Latin culture and successfully developed a vast network of contacts

which have been very beneficial to the associated companies of the Grosso Group.

Mr. Grosso has developed a strong network of long-term national and international

financial relationships. He has experience in financing, marketing strategies and has

successfully formed strategic alliances and negotiated with mining industry majors

such as Barrick, Teck, Newmont, Yamana Gold and Vale S.A.

During a family visit to Argentina in 1993, Argentina’s undeveloped geology east of

Chile was the great motivator for Mr. Grosso’s career change into the mining industry

where he became a mining pioneer in Argentina and thereafter discovered the

world-class Gualcamayo project, now in production by Yamana Gold. Mr. Grosso’s

additional discoveries include the world-class Navidad silver deposit now held by Pan

American Silver; the Rio Tabaconas gold project and now he is on the trail of yet

another discovery with the Chinchillas silver project.

Led 3 major discoveries:

Navidad (Pan American Silver)

Gualcamayo (Yamana)

Chinchillas (Golden Arrow)

JOSEPH GROSSO

Executive Chairman

CEO and President

Appendix B - Key Management

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BRIAN McEWEN PGeol. - VP Exploration & Development

Mr. McEwen is a professional geologist with more than 30 years of exploration and production experience in open-pit and

underground mining projects and operations. The extent of his experience is global in managing numerous projects in

Canada, US, Europe, Asia, Africa and throughout Latin America. Mr. McEwen’s previous roles include more than a decade

with MRDI (AMEC Peru) where he was responsible for project management, economic resource and reserve calculations for

various precious and base metal companies worldwide, including BHP Billiton, CM Antamina, Teck, Hochschild and Phelps

Dodge among others.

DARREN C. URQUHART, C.A.– CFO & Corporate Secretary

Mr. Urquhart is a Chartered Accountant with more than 10 years of experience working in both public practice and industry. Mr.

Urquhart is presently engaged in public practice accounting offering CFO and accounting services to TSX Venture Exchange

listed exploration companies in the Vancouver area. Mr. Urquhart began his career working as an audit accountant with Grant

Thornton LLP, then later worked as a senior tax accountant with Lohn Caulder Chartered Accountants and more recently

served as a consultant to an international private equity company. Mr. Urquhart obtained his Chartered Accountant designation

in 2001 and is a member of the Institute of Chartered Accountants of British Columbia. In 1995, Mr. Urquhart obtained his

B.A.Sc. (Electrical Engineering) from the University of British Columbia.

2

0 20 GRG.V

Pioneering Exploration In Argentina

Argentine

discovery

Grosso

Group

property

Grosso

Group

discovery

1993:

A Mining

Vision

2013:

A Mining

Reality

Appendix C – Option Terms

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Golden Arrow may acquire a 100% interest in the Chinchillas project by making

the cash payments to the vendor as follows:

Furthermore the Company must make an additional payment of $1.2 million to the vendor upon the

commencement of commercial production. See August 3rd, 2011 Press Release for further details.

Chinchillas Option Terms

Timing Cash Payments ($US)

On Signing $20,000

By January 2012* $80.000

By July 2012 $150,000

By July 2013 $250,000

July 2014 to July 2015 $466,000*

By July 2015 $900,000

Total $1,800,000

PAID

PAID

PAID

PAID

ONGOING

*An amendment to the original Option Agreement was signed on July 11, 2014 whereby a US$150,000 payment was made upon signing (completed), a final payment of US$250,000

is due by the end of 12 months, and on the 21st day of each month subsequent to the signing an additional payment of US$6,000 is due, for a new maximum total 3rd anniversary

payment of US$466,000. The Company can at any time make the final payment of US$250,000 without penalty, thereby cancelling all further US$6,000 monthly payments.