North Arrow Discovers Diamonds at the Mel Project, Nunavut
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604 668 8355 / Fax: 604 604 336 4813
News Release
NORTH ARROW DISCOVERS DIAMONDS AT THE MEL PROJECT, NUNAVUT
October 16, 2017 Trading Symbol: TSXV: NAR #17-12
North Arrow Minerals Inc. (TSXV -NAR) is pleased to report the discovery of diamonds at the Company’s 100% owned
Mel Diamond Project on the Melville Peninsula, Nunavut. Highlights of this announcement include:
• Diamondiferous kimberlite float, including pieces up to 0.50 m in size, has been identified over a 100 m extent
within, and to the north of , a small lake near the up-ice termination of a well -defined kimberlite indicator mineral
(KIM) train. This discovery is herein referred to as the ML-8 kimberlite;
• A 62.1 kg sample of the ML-8 kimberlite has returned 23 diamonds larger than the 0.106 mm sieve size, including
a single, colourless diamond larger than the 0.85 mm sieve size;
• The ML-8 kimberlite discovery is coincident with an identified airborne magnetic geophysical anomaly that straddles
the northern shoreline of the 200 m by 400 m lake;
• A number of additional geophysical targets, coincident with permissive topographic areas, have been identified near
the up ice termination of unexplained KIM trains within the property and, along with ML-8, will be drilled tested in
2018.
Ken Armstrong, President and CEO of North Arrow commented, “ As we thought possible, detailed prospecting of the well-
defined KIM trains at Mel has led to the discovery of kimberlite and diamonds - the second discovery by North Arrow of a
diamondiferous kimberlite field in Canada. Delineation and exploration drilling of the ML -8 discovery and other identified
targets is now planned for 2018 and will benefit from shar ing logistics and infrastructure with North Arrow’s ongoing
evaluation of the Q1-4 kimberlite at the Naujaat Diamond Project.”
Kimberlite Discovery and Diamond Results
The Mel property is located within 18 km of the Arctic Ocean, approximately 140 km south of the Hamlet of Hall Beach and
210 km northeast of the Naujaat Diamond Project. Kimberlite was discovered at Mel during detailed prospecting near the up-
ice termination of several KIM trains identified from previous North Arrow till sampling programs (please see North Arrow
news release dated February 8, 2017). The kimberlite is heavily moss and lichen covered and has been identified as float and
possible subcrop over an approximate 100 m by 10 m extent at the up ice termination of one of the KIM train s. Kimberlite
blocks up to 0.50 m in diameter were identified within, and immediately north of, a 200 m x 400 m lake and coincident with
previously identified magnetic anomaly ML-8. A second locality of kimberlite float was identified approximately 500 m east
from the main discovery. The ML-8 kimberlite is described as a dark grey- green, medium to very coarse (>1.6 cm) grained
coherent kimberlite containing abundant olivine as well as common ilmenite, orange to purple garnet and phlogopite (see
photo – weathered hand sample ). Caustic fusion results from a 62.1 kg composite sample of the ML -8 kimberlite are
summarized in the following table:
Number of Diamonds per Sieve Size (mm Square Mesh Sieve)
Sample
Weight
Dry Kg
+0.106
-0.150
+0.150
-0.212
+0.212
-0.300
+0.300
-0.425
+0.425
-0.600
+0.600
-0.850
+0.850
-1.18
Total
Stones
62.1 9 3 5 4 0 1 1 23
Mr. Armstrong continued , “The presence of two diamonds greater than 0.6 mm in this small sample is highly encouraging
and these initial microdiamond counts compare favourably with results from the diamondiferous Aviat and Naujaat kimberlite
fields, located 240 km to the north and 210 km to the southwest of Mel, respectively (see microdiamond curve comparison).
Further petrologic description of the ML-8 kimberlite is underway as well as an evaluation of the composition and abundance
of its indicator minerals for comparison against the project’s till sampling database. There are many unexplained positive till
samples within the project area highlighting the excellent potential for additional discoveries of diamond-bearing kimberlites
at Mel.”
Exploration Potential
Separate, prominent KIM trains immediately to the north and south of the ML-8 kimberlite discovery remain unexplained, as
do positive till samples in the southern part of the project. A number of geophysical targets, coincident with permissive
topographic areas, have been identified near the up ice termination of these positive till samples. In particular, the strongest
KIM anomaly identified on the property is located approximately 1.5 km south of the ML-8 discovery and is defined by
samples returning hundreds to over 1,300 KIMs. These exceptionally high KIM counts are located immediately down -ice
(northeast) from a promising , broad topographic low and partially coincident magnetic and electromagnetic geophysical
anomalies.
North Arrow has plans in place to mobilize an exploration drill and camp to Mel in the spring of 2018 . The drill is presently
located only 140 km north of the property. Fuel has also been mobilized in anticipation of a 2018 program of geophysics and
drilling to define the size and extent of the ML -8 kimberlite discovery and to test targets at the up-ice terminations of the
remaining unexplained KIM trains. North Arrow has all r equired exploration permits for th is work and is presently staking
additional mineral claims to expand the Mel project and cover additional prospective areas in the vicinity of this new Canadian
diamond discovery.
Scientific and Technical Data
Diamond results reported above are based on work completed by Microlithics Laboratories, Thunder Bay, Ontario, and I&M
Morrison Geological, Delta, British Columb ia. Both are independent mineral process and sorting laborator ies. Quality
assurance protocols, security and actual operating procedures for the processing, transport and recovery of diamonds conform
to industry standard Chain of Custody provisions. As part of North Arrow's ongoing QA/QC programs, concentrate residues
and other materials are subject to audit. Any significant changes to recovered diamond contents will be reported when
available. The 2017 Mel prospecting program was conducted under the direction and supervision of Michael MacMorran, P.
Geol. (NU/NWT), project manager for the Mel Project. North Arrow’s diamond 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.
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. In addition to the Mel Project, North Arrow recently wrapped up a drilling and mini-bulk
sampling program at the Naujaat (formerly Qilalugaq) Project (NU), and is also evaluating the Loki (NT), LDG (NT), Pikoo
(SK), and Luxx (NU) Projects. 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 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, e quipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insura nce
coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, ta x 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.