Golden Arrow Advances Four Near-Surface Gold Targets Across 10km at Atakama Project and Plans First Drill Program

Golden Arrow Resources Corporation (GRG) has filed its management information circular for an Annual General and Special Meeting scheduled for August 21, 2026. The primary agenda item is shareholder approval for the previously announced sale of its copper assets at the San Pietro Project to Capstone Copper Corp. for $25 million in Capstone shares. The Board unanimously recommends a vote in favor, with closing expected in late August 2026, pending shareholder approval and customary regulatory conditions.

Concurrently, the company provided an exploration update on its retained Atakama Gold Project, formerly part of San Pietro, highlighting strong surface gold grades across four targets: Paula, Lolita Norte, Dos Marias, and Cerro Sur. Trenching at Paula identified a 380m x 77m core zone with intervals greater than 1 g/t Au over more than 20m. Rock chip highlights exceed 20 g/t Au at Lolita Norte and nearly 30 g/t Au at Cerro Sur.

An initial drill program at the Paula target is planned for September 2026, explicitly subject to financing. The company is also seeking to expand its environmental permit to allow 80 additional drill platforms.

Golden Arrow Resources Corporation (GRG) filed meeting materials as a procedural follow-up to its June 23, 2026 asset sale announcement. This filing confirms the transaction timeline but introduces no new valuation drivers or unexpected terms. The company’s exploration update remains incremental; while surface trenching and rock chip sampling indicate promising near-surface gold potential, these activities do not constitute drill results and do not yet define a resource.

The most significant development concerns the explicit "subject to financing" caveat attached to the September drill program. With a reported cash balance of $215,915 and a material going concern flag, the company’s ability to execute this exploration program is highly uncertain without a capital raise or immediate liquidity from the Capstone transaction. Furthermore, the transaction consideration is paid in Capstone Copper shares rather than cash, introducing commodity and counterparty risk until the shares are monetized.

It does not materially alter the risk/reward profile until financing is secured and proceeds are realized.

Golden Arrow Resources Corporation (GRG) is a mining exploration company focused on precious and base metals in South America. Its flagship asset is the San Pietro Project in the Atacama region of Chile, which spans over 21,000 hectares.

The project has been strategically split, with copper-focused assets at the Rincones and Colla deposits, covering approximately 16,555 hectares, being sold to Capstone Copper. Golden Arrow retains more than 9,000 hectares of high-potential gold targets, which have been rebranded as the Atakama Gold Project.

An initial Inferred Mineral Resource Estimate for the Rincones and Colla deposits, released in April 2025, reported 492 Mt at 0.41% CuEq, comprising 0.23% Cu, 0.05 g/t Au, 99 ppm Co, and 14.43% Fe. Management is pivoting capital and focus toward near-surface gold exploration following the copper asset divestiture.