EuroIR

Canadian Arrow Mines

NI43-101 Measured and Indicated resource of 7.14M tonnes containing 44,322 tonnes of nickel and 23,559 tonnes of copper

Net present value of CD$253 Million

KB07-180 – 7.2% Ni & 0.67% Cu over 5.5 metres

Cash Cost of US$3.47/lb of Nickel net of copper byproducts

Metallurgical study recognizes 90% recovery rate for Nickel

Link to CHF 2008 Valuation Report on CRO

Link to Corporate Presentation November 17th

Canadian Arrow Mines, Ltd. (CRO-TSXV) is an experienced exploration and mine operating team that is focused on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Arrow has been moving rapidly to develop its Kenbridge Nickel Copper deposit located within 40 km of established communities and infrastructure in northwestern Ontario, Canada. A recently completed Preliminary Economic Assessment, (scoping study), has determined that the Kenbridge project has a net present value of CD$253M and a cash cost of US$3.47/lb of nickel net of copper byproducts.

New Developments:

Arrow has recently received summary reports on metallurgical test work completed on

Kenbridge ores. Recoveries of 90% And 93% for nickel and copper respectively for run of - mine feed were achieved with exceptional recoveries of 84%achieved for nickel from the lower grade open pit ores.

Arrow recently updated its NI 43-101 resource estimate to include all the drilling to date as well as the updated metallurgical recoveries. The drilling upgraded and increased the Measured and Indicated resource classifications by 87% of contained nickel pounds thus establishing the confidence limits required for the feasibility study to advance.

Current Kenbridge Project Status

An updated Preliminary Economic Preliminary Assessment (PEA) led by P&E Engineering and WMT Associates completed and filed on SEDAR in August 2008 concluded 85M lbs of nickel and 48M lbs of copper could profitably be extracted over an 8 year mine life.

Highlights of the revised NI 43-101 resource estimate and PEA include:

· 4.46 million tonnes open pit amenable Measured and Indicated resource at 0.42% nickel and 0.23% copper within the upper 160m of the deposit.

· 2.68 million tonnes of underground amenable measured and Indicated resource at 0.96% nickel, 0.50% copper.

· 2,800 tonne per day concentrator, combined open pit & underground mining operations

· Pretax economics: IRR 65%, NPV $253M

· Pre-production capital requirement of CD$108M

· Production of 13M lbs of nickel and 6M lbs of copper annually over 8 years

· Anticipated start-up commencing in 2010.

Additionally, Arrow has conducted numerous parallel work programs in order to quickly advance Kenbridge to an early production decision. Since April 2007 this work includes:

· Environmental baseline studies that are near completion

· Identifying a land based tailings basin with zero fish habitat and minimal impoundment volumes

· Metallurgical testing conducted by Xstrata Process Support in Sudbury under the guidance of Arrow’s process consultant completed.

· Commencement of formal consultations with the Anishinaabe Nation in Treaty # 3 and participation in the Treaty # 3 Great Earth Law

· The purchase of several long lead items including a SAG mill, mine hoist and head frame resulting in significant cost & time savings

· Project description submission to Canadian Environmental Assessment Agency and inter-agency government meetings

· Applications for advanced exploration & mine dewatering for future underground exploration. Kenbridge remains open at depth & along strike