Agoracom

President?s Message:
Canadian Arrow Mines is a very different company than it was a year ago. The efforts of the Arrow
management team has resulted in adding considerable value into the company by way of upgrading
and developing the Kenbridge nickel copper project and adding an increasing pipeline of other
quality nickel copper exploration projects. A year ago Canadian Arrow had less in the way of mining
assets on its books. Today it has a profitably recoverable resource estimate of 71.2 million lbs of
nickel and 49.6 million lbs of copper at an average cost of US$4.89 per lb of nickel net of byproduct
credits for copper located about an existing shaft. It also has acquired a headframe, a hoist, a SAG
mill, a positive Preliminary Economic Assessment, (PEA), supporting the above resource and an
impressive suite of prospective land packages. The results of the PEA indicate a net present value for
Kenbridge of $133 million at a 7.5% discount rate, far in excess of the Company?s current market
capitalization.
Much has been accomplished in the last year since the Arrow exploration team set foot on, and
opened up, the Kenbridge Nickel-Copper camp in April of 2007.
Though ore deposits may be found, mines must yet be made is certainly true for Kenbridge.
Kenbridge is not a new discovery. Falconbridge Ltd. spent a lot of resources and energy between
1952 and 1958 sinking a shaft and completing an extensive amount of underground and surface
diamond drilling and bulk sampling on the project before throwing in the towel at a low nickel price.
This was nevertheless a serious commitment at the time. At today?s nickel and copper prices, along
with modern mining technology and expertise, Kenbridge has outstanding promise to become a state
of the art mining enterprise. The combination of a high quality orebody with an experienced and
determined team has an outstanding chance of creating the first of many successful mining operations
for Canadian Arrow Mines.
2008 will be even busier and more exciting than 2007. The PEA provides preliminary economic
analysis of the Kenbridge project and highlights the work required to bring the project to a bankable
feasibility status. Surface diamond drilling has continued to define the orebody towards the shaft
bottom. The advanced exploration program will commence as soon as the access trail is upgraded to
an all season road. The intent of the advanced exploration is to perform underground diamond
drilling to explore the orebody?s open extensions below the shaft and along strike in both directions.
The headframe and hoist are expected to be delivered later this year. Baseline environmental as well
as all other technical works will be ongoing culminating in the Feasibility Report to be completed in
the 4th quarter of 2008. Meanwhile exploration will be shifting away from Kenbridge and onto the
regional exploration targets at Denmark Lake, Glatz, Emmons-Prigg, Ghost Lake and the Atikokan
projects. It is exciting to think of the possibility that another Kenbridge deposit may well be nearby.
Finding diamond drillers, quality personnel and consultants, acquiring long lead capital items such as
headframes, hoists, SAG mills and simply ?getting the job done? are the hallmarks of the Canadian
Arrow team. The team is long on experience and is drawn together by a spirit of quietly determined
resourcefulness that is evident by the accomplishments of the last twelve months.
Notwithstanding the current North American economic woes, nickel and copper markets are expected
to remain robust over the next several years as strong demand from Asia continues into the next
decade. The North American markets as well will hopefully emerge in time for the planned start up
of Kenbridge in 2009.
I will again refer to my earlier remark about the Arrow team being ?quietly determined?. The project
is of high quality as are the team undertaking it. Kenbridge and Arrow will succeed and that success
will be recognized. The Arrow team will continue to keep its ?eye on the prize?; the anticipated start
up of commercial concentrate production.
In fact early recognition has already been received as Canadian Arrow was honoured with the
Developer of the Year award from the North West Ontario Prospectors Association this past April.
We would like to thank all those who have helped Arrow succeed in meeting its progress targets for
2007. These include the contractors, consultants, employees, government agencies and local
communities both native and non-native. We would like to especially thank all of those shareholders
who have supported Canadian Arrow along the way. We have met or exceeded our objectives for
2007 and are well poised going into 2008 to do the same. We will continue to gain market support as
the investment community gains awareness of this. Stay tuned; 2008 promises to be a most exciting
year for Arrow shareholders.
?R. Kim Tyler?
R. Kim Tyler, President
Canadian Arrow Mines Ltd.
April 28, 2008