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To: LoneClone who wrote (18695)	4/30/2008 11:26:49 AM
From: LoneClone	Read Replies (1) \| Respond to of 192593

Canadian Arrow - Assay update, underground resource estimate update initiated Tue Apr 29, 9:02 AM ca.news.finance.yahoo.com SUDBURY, ON, April 29 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") reports assay results for the remaining diamond drill holes from the deep drilling portion of the Kenbridge project. The company completed 60 diamond drill holes (17,786m) during the fall of 2007 and early 2008, below the open pit portion of the deposit. Drilling has successfully traced Ni-sulphide mineralization down to the 375m level of the deposit. The results will be incorporated with the historical database in order to produce an updated resource estimate for the underground portion of the deposit. The resource estimate for the proposed open pit consists of 6.7 million diluted tonnes grading 0.38% Ni and 0.23% Cu to a depth of 160m. The updated resource estimate will be completed by P&E Mining Consultants of Brampton, Ontario. Assay result highlights: - KB-07-181 - 0.77% Ni, 0.29% Cu, 0.02% Co, over 17.8 m - including 1.00% Ni, 0.32% Cu, 0.03% Co over 12.3 m - KB-07-185 - 1.22% Ni, 0.35% Cu, 0.03% Co, over 17.8 m - Including 2.46% Ni, 0.42% Cu, 0.05% Co, over 4.6 m - KB-07-196 - 0.72% Ni, 0.48% Cu, 0.02% Co, over 23.5 m - Including 1.27% Ni, 0.55% Cu, 0.04% Co, over 5.2 m Commenting on the results, Todd Keast, Vice President Exploration of the Company stated "The assay results demonstrate the excellent continuity of the Kenbridge mineralization at depth. A pronounced orientation to the higher grade ore shoots will be modeled into the updated underground resource estimate. Recently announced higher nickel recoveries (see Press Release April 16/08), a robust drill hole database will contribute to a positive impact on underground resource estimate and the overall project economics. Within a year we have completed the surface drilling of the deposit, undertaken a series of environmental and geotechnical studies, purchased key pieces of mining equipment, and entered formal consultations with Treaty 3 First Nations. We remain committed to developing the Kenbridge Project into a viable mining operation." Assay Results: Hole From m To m Length m Ni% Cu% Co% KB-07-181 284.2 302.0 17.8 0.77 0.29 0.02 KB-07-181 284.2 296.5 12.3 1.00 0.32 0.03 KB-08-184 282.5 283.5 1.0 1.26 0.58 0.05 KB-08-185 326.3 344.1 17.8 1.22 0.35 0.03 KB-08-185 336.1 340.7 4.6 2.46 0.41 0.05 KB-08-185 359.8 365.0 5.2 0.69 0.15 0.03 KB-08-195 303.6 309.7 6.1 1.06 0.55 0.04 KB-08-195 320.2 332.3 12.1 0.33 0.15 0.01 KB-08-195 329.0 332.3 3.3 0.50 0.32 0.01 KB-08-196 361.8 363.6 1.8 1.00 0.32 0.02 KB-08-196 357.0 395.0 38.0 0.54 0.35 0.02 KB-08-196 371.5 395.0 23.5 0.72 0.48 0.02 KB-08-196 371.5 376.7 5.2 1.27 0.55 0.04 KB-08-196 380.7 392.9 12.2 0.79 0.62 0.02 KB-08-196 380.7 386.7 6.0 1.03 0.50 0.02 KB-08-197 426.0 445.0 19.0 0.46 0.28 0.01 KB-08-197 428.0 431.2 3.2 0.83 0.45 0.02 Hole Locations: Hole Depth Northing Easting Azimuth Dip KB-07-181 325.5 5481426 454112 310 -57 KB-08-184 377.8 5481453 454126 307 -55 KB-08-185 407 5481453 454126 306 -65 KB-08-186 413 5481453 454126 303 -72 KB-08-187 401 5481510 454154 310 -52 KB-08-188 281 5481541 454119 306 -57 KB-08-189 264 5481541 454119 310 -45 KB-07-191 78 5481451 454069 308 -70 KB-07-193 410 5481312 454053 307 -61 KB-07-194 482 5481312 454053 307 -68 KB-08-195 380 5481364 454088 304 -55 KB-08-196 449 5481364 454088 302 -65 KB-08-197 497 5481364 545088 304 -69 These results represent completion for this phase of the Kenbridge project. Future drilling on Kenbridge will be evaluated upon completion of the updated resource estimate. Drilling has since progressed onto the Company's regional exploration targets. Analytical Method ----------------- Mineralized diamond drill hole intervals reported are down hole core lengths only. NQ diameter drill core samples are split in half; one half being retained in its original core box and the second half sent to an independent commercial laboratory for analysis. Samples are analyzed by ISO 17025 accredited Accurassay Laboratories in Thunder Bay, Ontario. Samples analyzed for base metals (nickel, copper, and cobalt) are digested using aqua regia with an atomic absorption finish. The exploration program is being carried out under the direction of the Company's Vice President of Exploration, Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101. About Canadian Arrow Mines, Ltd. Canadian Arrow Mines, Ltd. is an established Canadian exploration and development Company committed to developing and advancing base metal deposits close to existing infrastructure through exploration, development and acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange under the symbol "CRO". Investors are invited to visit Canadian Arrow's IR Hub at agoracom.com where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CRO@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time. If you would like to receive press releases via email please contact: sarah@chfir.com. THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS PRESS RELEASE. Contacts visit the website at www.canadianarrowmines.ca or call toll free 1-877-262-6354 or contact Canadian Arrow Mines Ltd. R. Kim Tyler P. Geo President Tel: (705) 673-8259 E-mail: kim@canadianarrowmines.ca CHF Investor Relations Barry Leung Tel: (416) 868-1079 ext. 247 E-mail: barry@chfir.com or Sarah Gingerich Tel: (416) 868-1079 ext. 238 E-mail: sarah@chfir.com