Building Value in Argentina

March 2017

TSX-V:GRG
FSE:GAC
OTC:GARWF
GROSSO GROUP MEMBER COMPANY
 Forward Looking Statements

This Presentation contains forward-looking statements within the meaning of Canadian securities legislation. Such forward-looking statements concern the Companys anticipated
results and developments in the Companys operations in future periods, planned exploration and development of the Chinchillas project, plans related to its business and other matters
that may occur in the future. Statements concerning mineral resource estimates and the interpretation of drill results may also constitute forward-looking statements to the extent that
they involve estimates of the mineralization that will be encountered if the Chinchillas project is developed. These statements are based on a number of assumptions which may prove to
be incorrect, including, but not limited to, assumptions about the following: assumptions made in the Chinchillas Mineral Resource Estimate, including geological interpretation, grade,
recovery rates, silver, zinc and lead price assumptions and operating costs; the availability of financing for exploration and development activities, including Silver Standard Resources
Inc. (SSRI) meeting certain milestones and exercising its election to proceed with the transactions contemplated under the Business Combination Agreement dated September 30,
2015 among the Company, SSRI and certain other parties; the Companys ability to attract and retain skilled staff; the Chinchillas project development schedule; the exchange rates of
the Canadian dollar and United States dollar to the Argentina peso; market competition; ongoing relations with impacted communities; and general business and economic conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those
expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to the transactions
contemplated by the Business Combination Agreement; risks related to fluctuations in the currency markets (particularly the Argentinean peso, Canadian dollar and United States dollar);
risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development
and mining activities; uncertainty in the Companys ability to raise financing and fund the development of the Chinchillas project, including as recommended in the Chinchillas Mineral
Resource Estimate; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in a profitable mining
operation at Chinchillas; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual
conditions than is currently estimated and to diminishing quantities or grades of mineral resources as properties are mined; risks related to governmental regulations and obtaining
necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations;
risks related to the Chinchillas project being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to
obtain insurance; risks related to potential litigation; risks related to the global economy; and risks related to the Chinchillas project being located in Argentina, including political,
economic, social and regulatory instability. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in the forward-looking statements. The Companys forward-looking statements are based on beliefs, expectations and opinions of management on the
date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

The information provided in this is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other
disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has
reviewed the accuracy or adequacy of the information presented. The Company undertakes no obligation to publicly update or revise any forward-looking statements other than as
required under applicable law.

We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on
adjacent properties are not indicative of mineral deposits on our properties.

The contents of this presentation have been reviewed and approved Mr. Brian McEwen, P.Geol., VP Exploration and Development of the Company and a Qualified Person as defined in
National Instrument 43-101.

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 Investment Highlights

Experienced Management Team

with a History of Success

Early-mover advantage in an
emerging jurisdiction

An exceptional deposit on the

path to production with a
recognized mining partner

Additional upside potential from

vast property holdings including
new look-alike project

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 The Grosso Group

Pioneers of mineral exploration in

Argentina since 1993
A track record of success : 3 precious
metal discovery credits
A focus on community relations
Member companies benefit from a vast
network of contacts for acquisition,
exploration and development of mineral
projects
Member companies include:
Blue Sky Uranium Corp.
(TSX-V: BSK, OTC: BKUCF)

Argentina Lithium & Energy Corp.

(TSX-V: LIT, OTC: PNXLF) TSX-V: GRG
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 Why Argentina?

Excellent mineral potential

Systematic exploration has led
the Grosso Group to three major
discoveries
Gualcamayo (Yamana Gold)
Navidad (Panamerican Silver)
Chinchillas
GRG now holds over 200,000
hectares, mostly unexplored

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 Renewed Investment Climate

The new mining-friendly government has made

significant changes, making Argentina an emerging
market for investment.
Lifted currency controls devalued Peso
Decreased export taxes on concentrates
Some import restrictions lifted
Renewed relationship with IMF

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CHINCHILLAS SILVER PROJECT
Jujuy Province, Argentina

Photo credit: C. Brodie 7

Location & Infrastructure

Located in mining-friendly
Jujuy province, NW Argentina
Two all-season access routes
On same road as Pirquitas
mine, approximately 42 km
away
Powerline beside the
property;
Access to water from local
and regional wells
Communications available

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 Property

Currently 100% owned

by GRG
No royalties
Road accessible, local
power, small local
communities
>2000 hectares,
largely underexplored

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 Geology & Resources

Primary silver deposit, with lead and zinc:

155 Moz AgEq (M&I, 34.2 Mt @ 91 g/t Ag, 0.82% Pb, 0.57% Zn)
90 Moz AgEq (Inferred, 39.2 Mt @ 42 g/t Ag , 0.44% Pb,0.76% Zn)
Mineralization starts at surface no expensive underground
mining

Silver Mantos

**Mineral Resources for the

Chinchillas Project,
April 12th, 2016
by Rob Sim, P.Geo, Bruce Davis,
FAusIMM, Brian McEwen P.Geol.
Mantos Basement

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 Mineral Resource Estimate
**Mineral Resources for the Chinchillas Project, April 12th, 2016
by Rob Sim, P.Geo, Bruce Davis, FAusIMM, Brian McEwen P.Geol.

AgEq Ag Pb Zn AgEq Ag Pb Zn
Type Mtonnes
(g/t) (g/t) (%) (%) (Moz) (Moz) (Mlbs) (Mlbs)
Measured and Indicated
Silver Mantos 15.5 125 82 0.62 0.58 62 41 210 198
Mantos Basement 13.6 176 125 1.16 0.27 77 55 347 81
Socavon 5.0 97 29 0.54 1.37 16 5 59 152
ALL 34.2 142 91 0.82 0.57 155 100 618 431
Inferred
Silver Mantos 4.1 115 58 0.78 0.83 15 8 71 76
Mantos Basement 1.5 107 78 0.64 0.14 5 4 22 5
Socavon 7.3 79 33 0.37 0.91 18 8 59 146
Socavon Basement 20.0 79 39 0.39 0.73 51 25 170 321
ALL 32.9 85 42 0.44 0.76 90 44 322 548
1. Totals may not add correctly due to rounding
2. Mineral resources are contained within a pit shell generated using a silver equivalent price of $25/oz.
3. Silver equivalent calculated using the formula: AgEq = Ag g/t + (Pb% 36.09) + (Zn% * 36.09)
4. Silver equivalent grades, and the base case cut-off grade of 45g/t AgEq, are based on metal prices of $19/oz silver and $1/lb for lead and zinc.
5. Recovery is assumed as 90% silver equivalent.
6. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by
environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
7. The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these Inferred resources as
Indicated or Measured, but it is reasonably expected that a majority of the reported Inferred Mineral Resources could be upgraded to Indicated Mineral Resources
with continued exploration.

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 Metallurgy

High recoveries of silver, lead & zinc (bench scale

locked-cycle testing)
Standard flotation methods can create separate
saleable concentrates: silver-bearing lead, and zinc

Summary of Overall Metallurgical Test Performance

Lead Concentrate

Comp_1 (BAS) Comp_2 (MAN) Comp_3 (SOC)

Lead Silver Lead Silver Lead Silver
Recovery 96.3% 96.1% 97.5% 94.6% 97.0% 93.4%
Grade 69% 4.6 kg/t 62.2% 10.5 kg/t 66.0% 4.2 kg/t

Zinc Concentrate
Comp_2 (MAN - low
Comp_1 (BAS) Comp_3 (SOC)
zinc)
Zinc Silver Zinc Silver Zinc Silver
Recovery 84.7% 3.4% 20.3% 2.3% 86.0% 4.9%
Grade 52% 307 g/t 3.15% 271 g/t 60.0% 133 g/t

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 Attractive Mining Scenario

Silver Mantos Mineralization starts at

surface with flat-lying
geometry
Higher grade silver core
Mantos Basement in Silver Mantos Zone
Potential for fast start-up
open pit mining and
shipping of material

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 Growth Potential

Multiple Targets Drilled and

Open for Expansion
Includes Chinchillas South:
multiple holes with long
intervals of Ag in Zn halo:
Pirquitas-style
Good potential for new
resources
Majority of the property
remains under explored
Future exploration will focus on
rapid building of new resources

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 The Pirquitas Mine

Silver Zinc mine

Owned by Silver Standard
Resources Inc. (NASDAQ: SSRI, TSX-
SSO)
Mined 2009 to 2016; ~68 million
ounces silver produced to Q416
Currently processing stockpiles
42 road kilometres from Chinchillas
+4000 tpd mill and processing
facility remaining, plus mining fleet
and other infrastructure

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 Business Combination

Proposal is for 75% (SSO) 25% (GRG)

mining joint venture in Argentina, with
SSO to be operator.
SSO has spent over US$13M on pre-
development studies prior
Advances Chinchillas to Pre-
feasibility
GRG is accruing a 25% interest in
Pirquitas mines cash equivalent
earnings, less expenses, during the
study period
Decision required by end of Q12017

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 Pre-Development Progress

Oct 2015 Business

Combination Announced.
Pre-development studies Sept 2016 Current
commence: Formal Pre-feasibility
- Resource upgrade Mine planning
- Detailed Metallurgical testing April 2016 Environmental
- Detailed engineering studies Updated Resource planning
- Detailed environmental Estimate Process Engineering
studies Announced Reserve calculations

Feb 2016 May 2016 Sept 2016

15,000 m infill drill Exploration and EIA filed to initiate
program geotech drill mine permitting
completed program initiated
expands
mineralization to
east and south

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ANTOFALLA PROJECT
Catamarca Province, Argentina

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 Antofalla Project

8,760 hectares in Catamarca Province

100% earn-in opportunity, low initial commitments
Epithermal Silver-Gold-Base metal targets
Strong similarities to Chinchillas
18 m @ 128 g/t Ag, 0.23 g/t Au, 0.88% Pb in historic drilling
14.9 m @ 271 g/t Ag, 1% Pb in GRG due diligence channel sampling
2 m @ 9.2 Au g/t, 52 Ag g/t, 5 % Pb in historic trenches TSX-V: GRG
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 Antofalla Project

US$2 Million exploration program underway

Geochemical sampling to delineate drill targets
Remote sensing
IP/Resistivity geophysics
3000 metre drill program

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 Anticipated Catalysts

Advancing of Chinchillas to Production

Option decision expected Q117.
Continued Blue Sky from Exploration
Antofalla Project
Target delineation program results
Q117
First drill program to follow
Acquisition/Re-Evaluation of Other
Projects

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 Performance

Golden
Golden Arrow led the Arrow
Junior Silver
market in returns in 2016 Fund
and is positioned to Global Silver
continue. Miners Fund

TSX/S&P
Physical Comp Index
Silver ETF

Golden Arrow was recognized as a

TSX Venture 50 company in 2017.

TSX Venture 50 is a trademark of TSX Inc and is used

under license. TSX-V: GRG
FSE: GAC
OTC:GARWF
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 Capital Structure

Shares Issued (at Feb 15th, 2017) 97,084,414

Warrants (avg price $0.57) 9,616,278
Options (avg price $0.36) 4,277,500
Fully Diluted 110,978,192
Market Capitalization ~$78M
Ownership (insiders/friends/family) ~50%
Ownership (Silver Standard Resources) ~5%

Trading Exchange Symbol

Toronto Venture
GRG
Exchange
OTCQB Venture Market GARWF
Frankfurt Stock
GAC
Exchange

TSX-V: GRG
FSE: GAC
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 Leadership

JOSEPH GROSSO
Executive Chairman
CEO and President

Mr. Joseph Grosso is a respected entrepreneur with extensive international business experience having operated for decades in
North/South America as well as in various European and Asian countries. Of Italian descent and fluent in Italian, English and Spanish,
Mr. Grosso lived in Argentina and Peru where he acquired a very deep appreciation for Latin culture and successfully developed a
network of contacts which have been beneficial to the associated companies of the Grosso Group.

Mr. Grosso has developed a strong network of long-term national and international financial relationships. He has experience in
financing, marketing strategies and has successfully formed strategic alliances and negotiated with mining industry majors such as
Barrick, Teck, Newmont, Yamana Gold and Vale S.A.

During a family visit to Argentina in 1993, Argentinas undeveloped geology east of Chile was the great motivator for Mr. Grossos career
change into the mining industry. He became a mining pioneer in Argentina and thereafter led his team to the discovery of the
world-class Gualcamayo deposit, now held by Yamana Gold and the giant Navidad silver deposit now held by Pan American Silver. The
Chinchillas silver project is the third discovery for the Grosso Group.

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Mr. Brian McEwen, P.Geol.
VP Exploration and Development
Mr. McEwen is a Professional Geologist with more than 30
years of exploration and production experience in open-pit
and underground mining projects and operations globally.
Mr. McEwen's previous roles include more than a decade with
MRDI (AMEC Peru) where he was responsible for project
management, economic resource and reserve calculations for
various precious and base metal companies worldwide,
including BHP Billiton, CM Antamina, Teck, Hochschild and
Phelps Dodge among others.
Dr. David Terry, Ph.D., P.Geo.
Director
Dr. Terry is a Professional Geologist with more than 20 years
of experience focused on exploration for a wide spectrum of
precious and base metal deposits throughout North and
South America. He has held numerous senior positions with
both major and junior mining companies, including Boliden
Limited, Westmin Resources Limited, Hemlo Gold Mines Inc.,
Cominco Limited and Gold Fields Mining Corporation. He
holds a BSc and PhD from the University of Western Ontario.
Key Management
Mr. Darren Urquhart, CA
CFO & Corporate Secretary
Mr. Urquhart is a Chartered Accountant with more than 10
years of experience working in both public practice and
industry. Mr. Urquhart is presently engaged in public practice
accounting to TSX Venture Exchange listed exploration
companies. Mr. Urquhart began his career working as an
audit accountant with Grant Thornton LLP, then later worked
as a senior tax accountant with Lohn Caulder Chartered
Accountants and more recently served as a consultant to an
international private equity company.
Mr. Nikolaos Cacos, M.I.M.
VP Corporate Development & Director
Mr. Cacos brings over twenty years of management expertise
in the mineral exploration industry. He has extensive
experience in providing strategic planning to and
administration of public companies. Mr. Cacos serves as a
director and officer of several publicly traded companies. He
holds a Master of International Management degree from
Heidelberg, Germany and a Bachelor of Science degree from
the University of British Columbia.
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 Contact

Corporate Head-Office:
Suite 411, 837 W Hastings St
Vancouver, BC, Canada V6C 3N6
Telephone: 604 687 1828
Toll free: 1 800 901 0058

info@goldenarrowresources.com

www.goldenarrowresources.com

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