North Arrow Commences Diamond Processing, Naujaat Project, Nu
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604 668 8355 / Fax: 604 604 336 4813
News Release
NORTH ARROW COMMENCES DIAMOND PROCESSING, NAUJAAT PROJECT, NU
October 23, 2017 Trading Symbol: TSXV: NAR #17-13
North Arrow Minerals Inc. (TSXV-NAR) is pleased to report the start of processing of samples collected during its recently
completed summer drilling and mini -bulk sampling programs at the Company’s 100% owned Naujaat ( now-yat) Diamond
Project, Nunavut. The 2017 program focused on delineation drilling and mini -bulk sampling of the 12.5 hectare Q1-4
kimberlite, one of the largest undeveloped diamond resources in Canada, containing a significant population of extremely
rare, potentially high value, fancy vivid orangey yellow diamonds as certified by the Gemological Institute of America and
Canadian Gem Labs. The Q1-4 kimberlite hosts a total Inferred Mineral Resource of 26.1 million carats from 48.8 million
tonnes with an average +1 DTC total diamond content of 53. 6 carats per hundred tonnes (cpht) extending from surface to a
depth of 205m (-135 metres above sea level (masl)).
The summer program was completed in early September and included the collection of a 234 wet tonne mini-bulk sample and
over 10,000 kg of ki mberlite in drill core. The program, details of which can be found in North Arrow news release o f
September 12, 2017, represents the first phase of a larger planned program to better define the size, grade and diamond content
of the Q1-4 kimberlite in support of an economic assessment. The deposit is well located, only 9 km from tidewater and work
was conducted directly from the Hamlet of Naujaat, allowing the program to be completed cost effectively without the need
for a remote exploration camp.
All of the collected samples have been delivered to the processing laboratory in Thunder Bay , ON. Dense media separation
(DMS) processing of the first of three subsamples of the mini-bulk sample is presently underway and caustic fusion analyses
of drill core microdiamond samples are scheduled to start this week. DMS processing is intended to recover commercial sized
diamonds (greater than 0.85 mm) and the r esulting diamond parcels will provide further information to help evaluate the
content, value and size distribution of commercial sized diamonds within the Q1 -4 kimberlite and will aid in planning for
collection of a larger bulk sample in 2018. Processing of the three subsamples is expected to be finished by the end of calendar
2017. Microdiamond analyses of d rill core samples will continue throughout the next several months. Diamonds recovered
from these samples will help improve the spatial diamond dataset for the Q1 -4 kimberlite and overall understanding of
diamond distribution and grade throughout the body.
President and CEO, Ken Armstrong commented, “We expect to start receiving results from the Q1 -4 mini -bulk and
microdiamond samples within the next couple of weeks and will continue to receive results progressively throughout the fall
and early 2018. The microdiamond samples are the first drill core collected from Q1-4 since 2004 and will provide important
new information on diamond di stribution and grade within the kimberlite. The mini -bulk sample will improve our
understanding of commercial sized diamonds within the different units of the Q1 -4 kimberlite, including the distribution of
fancy coloured diamonds. All of these diamond results will be used as we plan for further drilling next spring and the collection
of a larger bulk sample next summer in advance of an economic assessment of this large diamond deposit.”
About the Q1-4 Kimberlite
The Q1-4 kimberlite hosts a total Inferred Mineral Resource of 26.1 million carats from 48.8 million tonnes with an average
+1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205m (-135
masl). Additional resource upside has also been identified in the form of a target for further exploration for the Q1-4 kimberlite
pipe of between 7.9 to 9.3 million carats from 14.1 to 16.6 million tonnes with an average +1 DTC total diamond content of
56.1 cpht, extending from 205m depth to 305m depth ( -235 masl; please see North Arrow news release dated May 15, 2013
for details on this resource estimate).
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration
opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience
in the Canadian diamond industry. North Arrow is currently evaluating a number of projects including the Naujaat (formerly
Qilalugaq) (NU), Mel (NU), Luxx (NU) Pikoo (SK), LDG (NT), and Loki (NT) Diamond Projects, all of which are fully
permitted with drill ready targets . North Arrow also maintains a 100% interest in the Hope Bay Oro Gold Project (NU),
located approximately 3 km north of TMAC Resources’ new Doris Gold Mine. North Arrow’s exploration programs are
conducted under the direction of Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person
under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
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
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 o f 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.