GRG Resources Announces Start of First Drill Program at Atakama Gold Project, Chile

Golden Arrow Resources Corporation (GRG) has commenced its first diamond drilling program at the Atakama Gold Project in Chile, targeting the advanced Paula deposit. The initial phase consists of 10 holes totaling 2,000 meters, expected to be completed by year-end, with a follow-up 2,000-meter program planned for the new year.

Surface exploration has expanded the mineralized footprint at Paula, with trenching delineating a core zone of greater than 1 g/t Au over greater than 20m in intervals up to 110m wide. Geophysical surveys, including ground magnetic and induced polarization (IP) methods, have been completed to guide the drilling and identify untested areas under cover.

The program follows the recent monetization of portfolio assets, including the sale of the San Pietro copper assets to Capstone Copper for approximately $25 million USD and the sale of a 1.5% net smelter return (NSR) royalty on the Filo Sur project to Mogotes Metals for $13 million.

Golden Arrow Resources Corporation (GRG) has initiated drilling at its Paula project, marking the execution of the exploration strategy announced in July 2026. This development serves as an incremental update to the company’s previously disclosed plans. The primary catalyst for the company’s current standing is not the drilling activity itself, but rather its newly fortified balance sheet. Recent asset sales to Capstone and Mogotes have transitioned GRG from a cash-constrained explorer into a well-funded operator.

The commencement of drilling at Paula validates surface trenching results and advances the project toward resource delineation. Because the market was already aware of the planned drilling and the associated funding sources, the immediate impact on the stock is likely muted. This development represents a routine positive step in the project's progression.

Golden Arrow Resources Corporation (ticker GRG) is a mineral exploration company focused on operations in Chile and Argentina. The company’s flagship asset is the Atakama Gold Project, formerly part of the San Pietro property in Chile’s Atacama region. The project features multiple near-surface gold targets, with the Paula target being the most advanced.

In August 2026, the company divested its copper-focused assets at San Pietro to Capstone Copper to focus exclusively on gold exploration. Management is led by CEO Nikolaos Cacos, who is affiliated with the Grosso Group.