Canadian Arrow Grants Share Purchase Options

SUDBURY, ON, June 29, 2012 /CNW/ - Canadian Arrow Mines, Ltd. (TSXV: CRO) (the "Company") announced today that pursuant to its stock option plan and subject to approval of the TSX Venture Exchange, the  Company granted a total of 3,770,000 options to nine officers, directors and employees of the Company on June 28, 2012.  These options have an exercise price of $0.10 per share and have a term of 5 years.

About Canadian Arrow Mines:

The Company is resuming production on its past producing Alexo mine located in the Abitibi nickel district east of Timmins Ontario. The Alexo and Kelex mines have historically produced 87,000 tonnes averaging 3.06% nickel from both underground and open pit mining.  The Company is also developing it's flagship Kenbridge nickel/copper/cobalt project located near Kenora, Ontario. Exploration potential exists along strike and at depth on both projects.

Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com  

This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.

Neither 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.

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