Golden ArrowResources Corp. said July 11 that it has entered into an optionagreement to acquire the Antofalla silver and base metals project in Argentina bymaking staged payments over five years totaling nearly C$1.6 million.

The vendor retains a 1% net smelter royalty.

Antofalla hosts geology and mineralization similar to thatof the company's Chinchillas silver project in Argentina.

Golden Arrow added that it has secured 214,000 hectares of aproperty portfolio, which could advance another discovery in addition to theprevious three already found by the Grosso Group, in which Golden Arrow is amember company.