Canadian Arrow announces proposed debt settlement

SUDBURY, ON, Dec. 19, 2012 /CNW/ - Canadian Arrow Mines Limited. (CRO: TSX-V) (the "Company") is pleased to announce that it has reached an agreement with one if its contractors to issue 785,908 common shares at a deemed issue price of $0.05 per share in respect of liabilities accrued to December 1, 2012 for excavation services performed by such contractor.

The debt settlement is subject to compliance with applicable securities laws and to receipt of regulatory approval, including the approval of the TSX Venture Exchange.

Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

Neither the 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.

SOURCE: Canadian Arrow Mines Limited

Visit the website at www.canadianarrowmines.ca, or contact Mr Kim Tyler President and Director toll free, 1-877-673-5462.