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Last updated on April 20, 2014 at 13:20 EDT

Port Snettisham Iron Ore Property Exploration Program locates Pyroxenite with strong magnetite presence

June 13, 2012

TSX.V: AWS

VANCOUVER, June 13, 2012 /PRNewswire/ – Robert L. Card, President, Arrowstar
Resources Ltd., (“Arrowstar” or the “Company”) (TSXV: AWS), is pleased
to report on the Company’s recent site visit to Port Snettisham, 60
kilometres from Juneau, Alaska.

Arrowstar’s Vice President Exploration, Phillip Thomas, and two
assistants visited the property by seaplane and noted a significant
amount of ultra mafic rock outcrop along the foreshore for the length
of the property.  Traverses across the property up to an elevation of
approximately 500 metres also identified magnetite bearing
hornblende-biotite-pyroxenite.  The magnetite body appears to be an
elliptical intrusion about 3 kilometres in outcrop along the shore that
is mainly composed of hornblende-magnetite clinopyroxenite,
biotite-magnetite pyroxenite, and hornblende-biotite-magnetite
clinopyroxenite transitioning to a diorite and then finally a contact
bounded by phyllite at Sentinel Point in the north. The claim block
also has two historical gold mines (the Friday Mine and the Crystal
Mine) that were both visited but no tailings or outcrop could be
located due to the heavy forest undergrowth.

The pyroxenite at the southern end of the claim contained significant
amounts of magnetite and transitioned to lower values as we traversed
north.  A Terradata KT-10 Plus magnetic susceptibility meter recorded
values as high as 32 on a magnetite scale and ranged from 7-32 which
was very encouraging. Some samples were taken that exhibited a very
high specific gravity (greater than 4) indicating the presence of iron
rich mineralization.

In the middle of the property, near the old mill numerous large
magnetite float blocks were identified adjacent to the chloritic
diorite and it appears these are part of a large magnetite intrusion,
but this proposition could not be validated as the undergrowth was too
thick to penetrate to explore further.

Ten samples have been sent for analysis.  Davis tube testing will be
done to determine the suitability of dry magnetic separation. A
complete iron suite analysis (FeO, Fe2O3, Fe3O4, soluble iron) and the
key elements of Ti, S, P, Si, Ca, Na, K, Al and background elements of
Platinum and Copper will be conducted.

The Company is seeking quotations for a ground based IP magnetic survey
and aerial magnetic and gravity survey.  Subject to price, availability
and environmental approvals one of these will be commissioned this year
as the next step.  When the results of the initial testing are known
further shoreline sampling and analysis will be completed. Discussions
were held with the Alaskan Forestry department in Juneau regarding
approvals to commence a detailed geophysics program.

Phillip Thomas, BSc Geol, MBus, MAIG, a Qualified Person under NI
43-101, has reviewed the content of this release.

On Behalf of the Board of Directors,
Arrowstar Resources Ltd.

“Robert L. Card”

Robert L. Card
President

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies    of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.”

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning AWS’s
planned exploration programs and other statements that are not
historical facts. When used in this document, the words such as
“could,” “plan,” “estimate,” “expect,” “intend,” “may,” “potential,”
“should,” and similar expressions are forward-looking statements.
Although AWS believes that its expectations reflected in these forward
looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements are disclosed under the heading “Risk Factors” and elsewhere
in the corporation’s periodic filings with Canadian securities
regulators.

SOURCE Arrowstar Resources Ltd.


Source: PR Newswire