Canadian Arrow reports Turtlepond Phase II drill results and provides update
on projects

SUDBURY, ON, May 27 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") reports partial assay results on the second phase of drilling on its Turtlepond Ni-Cu-PGE-Au projects.

    
    Double E Discovery
    ------------------
    

Three follow-up holes totaling 442 metres were completed on the Double E target. One hole, EE-10-04, intersected significant sulphide mineralization within pyroxenite intrusive host rock. As in the previous phase the drilling intersected two separate mineralized zones as follows;

    
    -   0.51% Ni, 0.23% Cu, 0.021% Co, 0.21 gpt PGM+Au and 0.50 gpt Ag over
        1.9 metres between 21.5m-23.4m down the hole and,
    -   0.52% Ni, 0.28% Cu, 0.026% Co, 0.29 gpt PGM+Au and 1.53 gpt Ag over
        1.9 metres between 28.0m-29.9m down the hole
    

Drilling completed on two holes from the previous program (Jan. 12, 2010) yielded 0.94 gpt PGM+Au over a two metre wide section that included 2.5 gpt Ag, 1.35% Ni and 0.81% Cu. The two phases of drilling are spaced on sections 50 metres apart along strike. The drilling has not closed off mineralization to depth or along strike.

Kim Tyler, President of the Company, said, "These results are encouraging and warrant further work and development. The Company is seeking nearby, accessible deposits suitable for supplementing ore feed to a proposed central milling facility located at its Kenbridge nickel copper project located approximately 70 km away. Although intersections to date at Double E are indicated to be thinner, the grades are comparable to those encountered in the open pit portion of Kenbridge. The Double E and Night Danger targets remain the most intriguing targets for follow-up. Right now our immediate focus is the possible recommencement of production at our Timmins nickel projects, but we will also continue to develop the potential of incorporating Turtlepond into our key Kenbridge Project. "

Below is a table of significant intersections completed to date.

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

    EE-09-01  65.0  69.8   4.8  1200E 0.24  0.22  0.01  0.06  0.04  0.05  0.6

    EE-09-02  25.5  29.7   4.2  1200E 0.81  0.52  0.02  0.20  0.16  0.20  1.7

    Includes  25.5  27.5     2  1200E 1.35  0.81  0.04  0.36  0.27  0.31  2.5

    EE-09-02 135.1 143.3   8.2  1200E 0.55  0.38  0.02  0.13  0.12  0.05  0.9

    EE-10-04  21.4  23.4   1.9  1150E 0.51  0.24  0.02  0.11  0.07  0.03  0.5

    EE-10-04  28.0  29.9   1.9  1150E 0.52  0.28  0.03  0.14  0.09  0.05  1.5


    Night Danger Discovery
    ----------------------
    

Assay results from drill core obtained from drilling of the Night Danger discovery have prompted further sampling. Assay results are pending and will be released as they become available.

Double E and Night Danger are new discoveries identified by the Company and have no previous exploration history.

    
    North Glatz Anomaly
    -------------------
    

One hole was completed on the North Glatz geophysical target. The hole intersected barren iron sulphide inter-flow bands and veins within mafic pillowed volcanic flows.

    
    Prigg Showing
    -------------
    

Four holes totaling 472m completed on the Prigg showing did not intersect significant mineralization. Significant grab samples however, previously collected from surface showings at Prigg, returned PGM+Au values between 0.514 gpt-0.207 gpt. Additional nickel and copper values yielding between 0.86%-0.12% and 0.70%-0.12% respectively in pyroxenite/gabbro host rocks are reported from field work completed by the Company.

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.

    
    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.

About Canadian Arrow Mines:

Canadian Arrow Mines Limited is developing two advanced nickel/copper mining projects located near existing infrastructure in Ontario, Canada. It'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.

The Company also owns the past producing Alexo and Kelex deposits located in the east Abitibi nickel district east of Timmins Ontario and is reviewing plans to re-start production.

    
    * 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