North Arrow Announces Management Changes Eira Thomas Appointed President and CEO Ken Armstrong Appointed Chairman
NORTH ARROW ANNOUNCES MANAGEMENT CHANGES
EIRA THOMAS APPOINTED PRESIDENT AND CEO
KEN ARMSTRONG APPOINTED CHAIRMAN
March 31, 2025 Trading Symbol - TSXV: NAR #25-04
North Arrow Minerals Inc. (TSXV: NAR) (“North Arrow” or the “Company”) is pleased to announce changes in
the executive management of the Company, effective May 1, 2025, with Eira Thomas appointed President and
CEO of the Company, and current President and CEO Ken Armstrong transitioning to Chair of the Board of
Directors. Ms. Thomas has served as the non-executive Chair of North Arrow since February 2024. This change
is intended to recognize Ms . Thomas’ expanded, more direct role in managing the Company’s exploration
activities in southern Africa, including the Kraaipan Gold Project in Botswana.
Ken Armstrong commented , “This change in North Arrow’s management structure will allow the Company to
take full advantage of Eira’s existing relationships and operational experience in southern Africa, and Botswana
in particular, as the Company advances the Kraaipan Gold Project and pursues additional exploration
opportunities in this area. I look forward to continuing to support Eira, North Arrow and our partner and operator
of the Kraaipan Project, Rockman Resources, as we pursue new gold discoveries in southern Botswana.”
Ms. Thomas has more than 30 years of experience in the mining industry, particularly in the diamond, gold and
energy spaces. She has held executive and board positions with several companies over that period, including
Kaminak Gold Corp. and Lucara Diamond Corp. In addition, she served as a director of Suncor Energy for 17
years.
Eira Thomas commented, “ I am pleased to be taking on increased responsibilities as North Arrow works to
expand its portfolio of gold projects focused on southern Africa , and Botswana in particular, following a change
in the Company’s focus in 2024. Importantly, North Arrow will also continue to benefit from Ken Armstrong’s
history and experience with the Company as he steps into the role of Chairman of the Board of Directors . The
Board would like to acknowledge Ken’s long and successful service to the Company as President and CEO and
looks forward to continuing to work with Ken as the new Chair.”
Rockman’s highly experienced in -country team continues to capably implement ongoing exploration programs
at the Kraaipan Project with Remote Mapper high resolution magnetic surveys and structural mapping surveys
currently underway. Both surveys are expected to be completed in early April. As part of the mapping program,
approximately 80 prospecting rock samples have been collected to date for the purpose of providing a
geochemical profile of outcropping altered and unaltered iron formation and associated rock types . The
geochemistry of these samples, including gold assays, will aid in the characterisation of bedrock samples
collected as part of a planned three -month RC drill sampling program scheduled to start in May . This drill
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program is intended to test priority targets located beneath Kalahari overburden cover. For additional details on
planned exploration work at Kraaipan, please see the Company’s news release dated February 27, 2025).
About the Kraaipan Gold Project, Botswana
The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the
Kraaipan Greenstone Belt (the “KGB”) in Botswana. The KGB is a highly prospective Archean greenstone belt that
straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold’s multi-
million-ounce Kalgold mine in South Africa, approximately 40 km south of the Project. Past exploration of the
northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting
approximately 80% of the KGB within Botswana. The Kalahari overburden comprises unconsolidated sand as well
as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically
less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of
the KGB in Botswana has identified local gold mineralization in shallow drilling of exposed banded iron formation
(“BIF”) targets. A n area of focus for new exploration is to identify BIF-related gold mineralisation beneath the
sand cover. To do this, North Arrow is working with Rockman Resources Limited’s highly experienced Botswana-
based exploration team, who are deploying cost-effective, proprietary exploration solutions including unmanned
aerial vehicle geophysics, truck-mounted drilling and, potentially, deep machine learning technologies to rapidly
advance the Project.
North Arrow can earn a 60% interest in the Project from Rockman by investing US$5 million by June 30, 2027,
including a firm commitment to invest US$1 million by June 30, 2025. To date, the Company has invested
approximately US$500,000.
About North Arrow Minerals
North Arrow is a Vancouver, BC -based exploration company focused on the evaluation of the Kraaipan G old
Project in Botswana . North Arrow’s management, board of directors and advisors have significant successful
experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian
diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow’s exploration programs
are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU, ON), President and CEO of North
Arrow and a Qualified Person under NI 43-101.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong or Nick Thomas
Tel: 604-889-5252 or 778-229-7194
Website: www.northarrowminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release.
This news release contains "forward -looking statements" including but not limited to statements with respect to North Arrow’s plans, the estimation of a
mineral resource and the success of exploration activities. Forward -looking statements, while based on management's best estimates and assumptions, are
subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of
financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or
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grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.
Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward -looking statements, except
as required by law.