08:04 AM EDT, 04/29/2025 (MT Newswires) -- Golden Arrow Resources ( GARWF ) said Tuesday that Sociedad de Servicios Andinos (SSA) exercised an option to acquire a 25% stake in New Golden Explorations Chile, which owns the San Pietro iron oxide-copper-gold-cobalt project in Chile.

As consideration, SSA contributed US$5 million comprising $2 million in cash and $3 million in services needed to develop the project.

SSA also issued a promissory note worth $18,078.97 representing the balance to be used from the services, Golden Arrow said.

Golden Arrow's share price jumped 25% on Monday to $0.05 on the TSXV.