Canadian Arrow proposes to extend term of warrants

SUDBURY, ON, Oct. 18, 2012 /CNW/ - Canadian Arrow Mines, Ltd. (TSXV: CRO) (the "Company") announced today that it proposes to extend by six (6) months the expiry date of the following share purchase warrants:

• Warrants to purchase up to 9,496,430 common shares at an exercise price of $0.10 per share until March 18, 2013, in respect of 8,473,430 warrants and March 25, 2013 in respect of 1,023,000 warrants, issued in connection with a non-brokered private placement completed in October 2010.

The application to amend the warrants is subject to the Exchange's acceptance, and the Company makes no assurances that the required acceptance for the extension of the term of the warrants will be granted.

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.

SOURCE: Canadian Arrow Mines Limited

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

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