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Last updated on April 18, 2014 at 8:18 EDT

Arrowstar Files Drill Application For Alaska Project

March 1, 2013

TSX.V: AWS

VANCOUVER, March 1, 2013 /PRNewswire/ – Robert L. Card, President of Arrowstar
Resources Ltd., (TSXV: AWS), (the “Company”) reports that the Company
has filed its application for a drilling permit on its Snettisham iron
ore prospect located near Juneau, Alaska. The Company recently
completed a ground magnetic survey of the property and coordinated the
results with previously secured surface sample results. The drilling
permit covers a proposed 3,600 meters of drilling comprised of 9 to 15
holes ranging in depth from 200 to 500 metres. Initial review has
identified three high magnetic intensity areas over a 750 metre
distance with the largest area having a magnetic intensity greater than
78,000 nanoTeslas over an ellipsoidal surface area of approximately 750
metres by 750 metres. The foreshore where significant magnetite outcrop
was located in the June 2012 rock chip survey measured 71,500
nanoTeslas.

The drilling program is designed to determine the extent of the
mineralization at depth, the mineralogy and petrology, the contact rock
and the magnitude of the mineralization. With this data, a NI 43-101
Report will be prepared to report on the drilling results and the
extent of the mineralization.

The Company also announces the signing of a drilling contract with Black
Rock Drilling of Spokane, WA.  The Company expects to initiate the
drilling within 2-3 weeks of receiving approval of the permit from the
seven different government organizations we have submitted our
documents to.

Phillip Thomas, BSc, MBusM, MAIG, Vice President Exploration, a
Qualified Person under NI 43-101, has reviewed and approved 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