Last updated on April 20, 2014 at 17:20 EDT

Arrowstar Returns Rannie Lake Property to Vendor

December 6, 2012

VANCOUVER, Dec. 6, 2012 /PRNewswire/ – Robert L. Card, President of Arrowstar
Resources Ltd., (“Arrowstar” or the “Company”) (TSXV: AWS), reports
that the Company has decided to return the Rannie Lake, Labrador
property to the Vendor.  Arrowstar acquired an option on the Rannie
Lake property a year ago. (Aug 22, 2011 – Gulfside Acquires Three Iron
Ore Projects).

The Arrowstar team conducted preliminary investigations of the Rannie
Lake property but decided that the Company’s resources and efforts
could be used to greater advantage on the Company’s Snettisham Iron Ore
project located 30 miles SE of Juneau Alaska.

Robert L. Card, President and C.E.O. of the Company commented: “We are
very focused on further development of our Alaska iron property.  The
work done in 2012 indicates a very favorable project.  The Company will
be concentrating on this project in the coming year.”

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

“Robert L. Card”

Robert L. Card

“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

SOURCE Arrowstar Resources Ltd.

Source: PR Newswire