03/26/2002- Lease Agreement with Altar Res

[Franko10 ™]

GOLDEN ARCH RESOURCES LTD.
#409 – 17665 66A Avenue, Cloverdale, BC V3S 2A7 Phone:
[phone] Fax: (604) 575 - 3003
Exemption 12g3 - 2(b)
SEC File # 82-659
GAI:CDNX
GARCF: O.T.C

NEWS RELEASE

March 26, 2002 – The Board of Directors of Golden Arch Resources Ltd. is pleased to announce that it has entered into a Lease Agreement with Altar Resources Partnership, subject to regulatory approval, to acquire all the mineral rights to the Mildred Peak Gold Property in Pima County, Arizona, subject to either a 1% NSR or a 20% Net Profits Interest payable to Altar Resources. To maintain its interest in the property, Golden Arch must make optional payments of US$8,000 down payment, US$12,000 after year one, and US$20,000 after year two. In year three and each subsequent year, Golden Arch must make advance royalty payments of US$20,000 per year. In addition, to maintain its interest in the property, Golden Arch must issue to Altar at total of 650,000 (150,000 shares within 30 days, 200,000 shares in 1 year, and 300,000 shares after 2 years) and spend $500,000 Cdn within 3 years on work on the property ($50,000 in year 1, $150,000 in year 2 and $300,000 in year 3). All cash payments, including advance royalty payments and pre-production development expenditures are recoverable by Golden Arch prior to any Royalty or Net Profits payments to Altar. A finder’s fee is payable, subject to regulatory approval.

The Mildred Peak Property is centered on a Tertiary Laramide intrusive. The gold mineralization appears to be concentrated within a thick shallow dipping Jurassic conglomerate near the intrusive contact. The gold occurs associated with iron and copper sulphides within veinlets with several different attitudes, within significant continuous veins approximately 6 to 8 feet in width, and widely disseminated with sulphides within the conglomerate. Soil sampling has indicated two gold anomalous zones (one is about 2 km long and over 120m wide, the second is over 1 km long).

Anomalous soil samples run as high as 2800 ppb. Grab rock chip samples within these areas grade up to 1.27 opt (ounces per ton) gold. Limited rotary percussion blasthole drilling in the northerly geochemical zone in one hole returned 150 feet of 0.044 opt gold. Included within the Property are two small, approximately 40 acre, patented claims (not currently part of the Property) which hold large quartz veins. Both properties were mined intermittently up to 1940, and were reported to have produced a few thousand tons of 0.7 to 1.0 opt gold, 12 opt silver, and minor copper, molybdenum, and lead.

The Company’s management feels that the Property offers a significant opportunity to the Company to explore and develop an important gold prospect.

On behalf of the Board of Directors,
“Les Kjosness”<br>President
For further information, please contact Mr. Les Kjosness,
President at 604-575-3100 or email
[e-mail]