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AWH Arrowhead Gold Corp.

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Share Name Share Symbol Market Type
Arrowhead Gold Corp. TSXV:AWH TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Arrowhead Options 51% of Kaburi Gold Project to Tajiri Resources Corp.

21/10/2011 4:02pm

Marketwired Canada


Arrowhead Gold Corp. (TSX VENTURE:AWH) is pleased to announce it has signed a
letter of intent with Tajiri Resources Corp. (the "Company") whereas Tajiri will
acquire a 51% interest in the hardrock mining rights (the "Rights") in the
Guyana Geology and Mines Commission Large Scale Prospecting Licence No. 01/2009
in the Kaburi Area, Mazaruni, Guyana SA. ("the Kaburi Project").




(a) The consideration payable for the Rights the Company must pay the       
    following sums:                                                         
                                                                            
    (i)   $50,000 on the Effective Date;                                    
    (ii)  $50,000 on the first anniversary of the Effective Date;           
                                                                            
(b) to incur Expenditures on the Property, as follows:                      
                                                                            
    (i)   $250,000 on or before the first anniversary of the Effective Date;
    (ii)  an additional $500,000 on or before the second anniversary of the 
          Effective Date; and                                               
    (iii) an additional $750,000 on or before the third anniversary of the  
          Effective Date;                                                   
                                                                            
(c) issue to Arrowhead an aggregate of 7,000,000 Shares as follows:         
                                                                            
    (i)   1,000,000 Shares on the Effective Date;                           
    (ii)  2,000,000 Shares on or before the first anniversary of the        
          Effective Date; and                                               
    (iii) 2,000,000 Shares on or before the second anniversary of the       
          Effective Date: and                                               
    (iv)  2,000,000 Shares on or before the third anniversary of the        
          Effective Date.                                                   



The shares will subject to the restricted period required by the TSX Venture
Exchange and applicable securities legislation. The option of the Rights is
subject to due diligence by the Company and the completion of formal
documentation.


The Kaburi Project encompasses approximately 6421 acres in the Mazaruni Mining
District, Guyana, SA. Arrowhead has commenced an independent NI 43-101 Report on
the Kaburi Project.


"We are pleased to obtain a partner for our promising Kaburi project in Guyana.
This option will allow Arrowhead to focus on drilling its encouraging Puruni
Project, while at the same time permitting us to retain a significant interest
in the Kaburi project", comments Steve Smith, President of Arrowhead Gold Corp.


The Option Agreement is a non-arm's length transaction due to common directorships.

On Behalf of the Board, Arrowhead Gold Corp.

Steve Smith, President

This news release may contain forward-looking statements based on assumptions
and judgments of management regarding future events or results. Such statements
are subject to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking statements. The Company disclaims any intention or obligation to
revise or update such statements.


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