SUDBURY, ON, March 16 /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 2,850,000 common shares at an exercise price of $0.10 per share until March 17, 2011, issued in connection with a non-brokered private placement completed in September 2009.

If accepted by the TSX Venture Exchange (the "Exchange"), the Company will extend the expiry date of the 2,850,000 share purchase warrants to September 16, 2011.

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.

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