Canadian Arrow announces extension of loan

     SUDBURY, ON, March 5 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company"), is pleased to announce that it has reached an agreement with an
arms-length third party lender to extend the term of its $1,500,000 loan to
January 31, 2011.
     The loan which was announced by press release on May 26, 2008 is secured
by a charge against all of the Company's assets, bears interest at a variable
rate per annum equal to prime plus 2% calculated daily and compounded monthly
and matures on the earlier of (i) the date on which an event of default occurs
under the loan or the security, (ii) the date on which Canadian Arrow
completes any equity or debt financing after the date hereof for net proceeds
of at least $5,000,000, and (iii) January 31, 2011.
     In connection with the extension, the Company also agreed that the lender
would have an option to have all or a portion of the loan repaid in common
shares of the Company any time after the completion of an equity financing by
the Company, with the deemed issue price of such shares being equal to the
issue price under the financing. Furthermore, the Company was provided with an
option of repaying the loan through the transfer of an interest in its
Kenbridge property.
     The revised note as well as the ability to repay in either common shares
of the Company or the transfer of the property interest will be subject to the
receipt of all necessary regulatory approvals including the TSX Venture
Exchange.
     Investors are invited to visit Canadian Arrow's IR hub at
http://www.agoracom/IR/CanadianArrow where they can post questions and receive
answers within the same day, or simply review questions and answers posted by
other investors. Alternately, investors are able to e-mail all questions and
correspondence to CRO@agoracom.com where they can also request addition to
the investor e-mail list to receive future press releases and updates in real
time.

     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.

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                              Mirna@chfir.com.

          THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
                        RESPONSIBILITY FOR ITS CONTENTS.

       THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
                                PRESS RELEASE.

     %SEDAR: 00008534E

For further information: visit the website at www.canadianarrowmines.ca, or
call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd., R. Kim
Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail:
kim@canadianarrowmines.ca; CHF Investor Relations, Barry Leung, Director
Business Development, Tel: (416) 868-1079 ext. 222, E-mail:
barry@chfir.com; or Alison Tullis, Senior Account Manager, Tel: (416)
868-1079 ext. 233, E-mail: alison@chfir.com