Ms. Marilyn Miller reports

GREEN ARROW RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT AND CONSOLIDATION OF COMMON SHARES

Green Arrow Resources Inc. intends to consolidate its common shares on the basis of one new common share for five existing common shares and concurrently complete a non-brokered private placement of up to 20 million postconsolidation common shares of the company at a price of five cents per common share for aggregate proceeds of up to $1-million. There are currently 22,502,949 common shares issued and outstanding. There will be approximately 4,500,590 common shares issued and outstanding following the consolidation. No fractional common shares will be issued pursuant to the consolidation. Any fractional shares will be rounded up or down to the nearest whole common share.

The company intends to use the proceeds from the private placement for evaluating potential qualifying transactions and for general working capital. Closing of the private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including from the NEX board of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period from the date of issuance, in accordance with applicable securities laws. The company may pay finders' fees and/or commissions to eligible persons in connection with the private placement in accordance with applicable securities laws and the policies of the exchange.

Insiders of the company may participate in the private placement. Any such participation will be considered a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The transaction is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to such insiders nor the consideration that will be paid by such persons will exceed 25 per cent of the company's market capitalization.

In accordance with the articles of the company, shareholder approval is not required for the consolidation, but the consolidation is subject to the approval of the exchange. The company does not intend to change its name or its current trading symbol in connection with the proposed share consolidation. Additional information regarding the record date and effective date of the consolidation will be provided in a subsequent news release.