Canadian Arrow reports significant platinum-palladium-gold drill results on
second new nickel copper discovery

SUDBURY, ON, Jan. 12 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") reports the discovery of a second new nickel-copper zone that, in addition to nickel and copper, also displays significant platinum, palladium, gold and silver mineralization. Two holes were drilled to test the Double E target identified by the Company in its 2008 airborne VTEM geophysical survey on its Turtlepond Lake group of projects. Hole EE-09-02 intersected two separate zones spaced 105m apart down the hole. The upper intersection of 1.35% Ni, 0.81% Cu 0.36 gpt Pt, 0.27 gpt Pd, 0.31 gpt Au, and 2.5 gpt Ag, over 2m is distinctively higher in precious metal content than known nickel-copper occurrences in the region.

    
    Table 1 - Double E Significant DDH Assay Results

              From     To   Length   Ni%   Cu%   Co%    Pt    Pd    Au   Ag
    Hole       (m)    (m)                              gpt   gpt   gpt   gpt

    EE-09-01   65.0   69.8    4.8   0.24  0.22  0.01  0.06  0.04  0.05   0.6

    EE-09-02   25.5   29.7    4.2   0.81  0.52  0.02  0.20  0.16  0.20   1.7

    Includes   25.5   27.5      2   1.35  0.81  0.04  0.36  0.27  0.31   2.5

    EE-09-02  135.1  143.3    8.2   0.55  0.38  0.02  0.13  0.12  0.05   0.9
    

The results of geological field mapping conducted by the Company during the summer of 2008 as follow-up to the airborne geophysical survey identified a prospective pyroxenite body that had not been previously recognized. Prospecting and grab samples identified sulphide mineralization along a 225m long trend. Of the fifteen surface grab samples collected the most significant assay results are reported below:

    
    Table 2 - Double E Significant Surface Grab Sample Assay Results

       Lab Sample No.    Ni%    Cu%   Co%  Pt gpt  Pd gpt  Au gpt  Ag gpt

              397855    0.15   1.55   0.01   0.20   0.17    0.10     4

              397721    0.20   0.59   0.01   0.20   0.15    0.10     1
    

Double E is the second new mineralized zone identified by the Company's recent exploration programs that, like the Night Danger discovery reported in the press release of Jan. 7, 2010 , has no previous exploration history.

Kim Tyler President of the Company stated, "We are pleased and particularly intrigued with the discovery of PGE mineralization of the magnitude seen at Double E. Platinum-palladium mineralization of these grades may indicate a new precious metal phase of nickel-copper mineralization in the region. The results from Double E provide new clues not only to the distribution of base metals but also associated precious metal potential of the Atikwa belt as well."

The Company is planning follow up drilling on Double E and other targets this season.

    
    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 ALS Chemex Laboratories in Vancouver , BC. Samples analyzed for base metals (nickel, copper, and cobalt) are digested with a four acid digestion technique with an ICP-AES finish. Precious metals, (platinum, palladium and gold), are fire assayed with an ICP-AES 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:

Canadian Arrow Mines Limited is focused on acquiring and developing nickel sulphide deposits near existing infrastructure. The Company's principal asset is the Kenbridge Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19 , 2008), as follows:

    
        -  Measured Resource: 3,546,000 tonnes grading 0.45% nickel,
           0.24% copper, 0.015% cobalt.

        -  Indicated Resource: 3,593,000 tonnes grading 0.79% nickel,
           0.42% copper, 0.018% cobalt.
    

The deposit remains open in three directions, is equipped with a 620 m shaft and has never been mined.

    
    * National Instrument 43-101: Mr. E. Puritch, P. Eng., Ms. Tracy
        Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining
        Consultants Inc. are the independent qualified persons for the
        Kenbridge resource estimates.
    

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.

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.

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