06/03/2002- From release of March 26, 2002

[Franko10 ™]

GOLDEN ARCH RESOURCES LTD.
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: [phone] Fax: [phone]
Exemption 12g3 - 2(b)
SEC File # 82-659
GAI:CDNX
GARCF: O.T.C

NEWS RELEASE

June 03, 2002 – The Board of Directors of Golden Arch Resources Ltd. is pleased to announce that, further to the Company’s news release of March 26, 2002, the Lease Agreement with Altar Resources Partnership to acquire all the mineral rights to the Mildred Peak Gold Property in Pima County, Arizona, was approved by the TSX Venture Exchange on April 18, 2002. The Agreement is subject to either a 1% NSR or a 20% Net Profits Interest payable to Altar Resources The Company has made the initial payment of US$8,000 and in order to keep its interest, the Company must pay 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, Golden Arch must issue to Altar at total of 650,000 common shares(150,000 shares within 30 days, and, to maintain interest, 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 of 40,000 common shares of the Company to an arm’s length party has also been approved.

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