It was recently announced that the third season of Arrow will premiere in fall 2014 and the May 21 press release also revealed some spoilers on what's to come.

Detective Lance Will Be Alive in Season 3?

In the beginning the press release for season 3 relays some of the old information about Oliver Queen (Stephen Amell) and the origins of Arrow. How he comes back to Starling City and joins forces with John Diggle (David Ramsey), Felicity Smoak (Emily Bett Rickards), Roy Harper (Colton Haynes) and Sara Lance (Caity Lotz). The real revelation seems to be that Oliver's sister Thea (Willa Holland) will be defecting and joining his enemy Slade in the next season. The synopsis goes on to suggest that  as "rivalries and allegiances will shift as Oliver faces his most difficult challenge yet." 

Here's the official press release for season 3 of the show:

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"After a violent shipwreck, billionaire playboy Oliver Queen (Stephen Amell) was missing and presumed dead for five years before being discovered alive on a remote island in the Pacific. He returned home to Starling City, bent on righting the wrongs of his family and fighting injustice.

To do this, he creates the persona of the Arrow and allies himself with former military man John Diggle (David Ramsey), computer-science expert Felicity Smoak (Emily Bett Rickards), street brawler Roy Harper (Colton Haynes) and international assassin Sara Lance (Caity Lotz), while keeping his secret from those closest to him including his sister Thea (Willa Holland), who has allied herself with his most deadly enemy. Rivalries and allegiances will shift as Oliver faces his most difficult challenge yet."

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The finale of season 2 of Arrow aired on May 14 on CW.

Watch the promo for the finale of season 2, titled Unthinkable: