North Arrow Identifies Pegmatite Targets at Destaffany Lithium Project, Nwt
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604-668-8355
News Release
NORTH ARROW IDENTIFIES PEGMATITE TARGETS AT
DESTAFFANY LITHIUM PROJECT, NWT
March 30, 2023 Trading Symbol: TSXV: NAR #23-05
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to update an ongoing data review at its 100%
owned DeStaffany lithium property, NWT. Highlights of this work include:
• Eight lithium geochemical targets have been identified within the property.
• Four of these anomalies are associated with features of interest identified from satellite imagery.
• The presence of coarse grained spodumene has been confirmed by photographs of the Moose 2 pegmatite.
In preparation for an initial field evaluation of the Moose 1 and Moose 2 pegmatites, North Arrow is reviewing available
data related to past work on the DeStaffany property. This includes a 1998 lithogeochemical dataset consisting of composite
bedrock samples collected throughout the property. These data confirm lithium and cesium alteration halos associated with
the Moose pegmatites, and have also been used to identify eight additional anomalies that potentially represent alteration
related to undiscovered pegmatites. Four of these targets correspond with features of interest identified from recently
acquired GeoEye satellite imagery, including one target area where pegmatite was noted in the lithogeochemical survey
data.
Ken Armstrong, President and CEO of North Arrow, commented “Priority targets identified by North Arrow’s ongoing review
of historic datasets and new satellite imagery will help focus initial prospecting work this summer, with the goal of discovering
new spodumene pegmatites within the DeStaffany property.”
North Arrow has also reviewed
available photographs of the property.
Photos of the Moose 2 pegmatite
confirm the local presence of metre-
scale pale green to grey spodumene
crystals. In particular, coarse
spodumene megacrysts are prominent
in the lower western wall of the
historic mining pit (see accompanying
image), confirming that spodumene
was not targeted by past mining.
These exposures of spodumene
mineralization should allow for
collection this summer of samples
sufficient for mineral recovery and
characterization studies. Additional
photos can be found in the new
presentation on the corporate website.
Metre-scale spodumene
megacrysts. Lower
western wall of Moose 2
historic mining pit.
Wall height ~8m.
North Arrow is also pleased to report that, as part of its strategic alliance with Panarc Resources, it has acquired new mineral
claims on Baffin Island, Nunavut . Staked targets are located within 12km of tidewater in an area where granite pegmatites,
up to 10's of metres wide, have been mapped by government geologists.
North Arrow’s exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo., President and CEO of
North Arrow and a Qualified Person under NI 43- 101. Mr. Armstrong has reviewed and approved the technical contents of
this press release.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium an d diamond
exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful
experience in the global exploration and mining industry. North Arrow is evaluating spodumene pegmatites at the newly
acquired 100% owned DeStaffany Lithium Project located on Great Slave Lake in the NWT and is also exploring for
spodumene mineralization in the Bathurst Inlet and Baffin Island pegmatite field s, NU, and continuing work to identify and
acquire additional spodumene pegmatite opportunities in northern Canada . North Arrow ’s most advanced diamond project
is the Q1-4 diamond deposit at the Naujaat Project (NU), where it is evaluating a population of rare high value fancy colour
diamonds. North Arrow has also discovered diamond bearing kimberlites at the Pikoo (SK), Mel (NU), Loki (NWT) and LDG
JV Projects (NWT) and also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km
north of Agnico Eagle’s 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, 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.