North Arrow Reports Completion of Naujaat Project Bulk Sample
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604-668-8355
News Release
NORTH ARROW REPORTS COMPLETION OF NAUJAAT PROJECT BULK SAMPLE
August 19, 2021 Trading Symbol: TSXV: NAR #21-10
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) reports that field collection of a 2,000 tonne bulk sample at
its Naujaat Diamond Project, Nunavut is complete.
Ken Armstrong, President and CEO of North Arrow commented , “Bulk sample collection from the Q1-4 kimberlite is now
complete, with field crews hav ing delivered 2,500 bulk sample bags of kimberlite to our laydown near the community of
Naujaat. At approximat ely 2,000 tonnes , the 2,500 bags represent the high end of our anticipated tonnage range for the
program and we look forward to loading
the sample onto the annual Naujaat sealift
in September for shipment to the
processing laboratory.”
Mr. Armstrong continued, “We estimate
the cost to collect and transport the
sample from Q1 -4 to the Naujaat
laydown at approximately $2.3M. This
efficient program highlights the cost
effectiveness of evaluati ng the Q1-4
kimberlite by taking advantage of it s
location on tidewater with excellent
opportunities fo r local employment and
accommodations. It was a pleasure
working with the field crew for part of
the program and seeing first -hand the
tremendous effort that went into safe
collection of the sample.”
Sample processing and diamond recovery
are expected to start in the fourth quarter
of calendar 2021. Diamonds recovered from the sample are intended to confirm the size distribution and character of an
important population of potentially high-value, fancy yellow to orange yellow diamonds found in the Q1-4 deposit.
The $5.6M bulk sample program is funded by partner Burgundy Diamond Mines ( ASX-BDM), as part of a June 1, 2020
option agreement under which Burgundy may earn a 40% interest in the Naujaat Project by funding the current bulk sample
program.
About the Naujaat Project
2500 mega-bags of the Q1-4 kimberlite at the NAR Laydown Area near the Naujaat town
quarry. The bags will be loaded on to the September sea lift for ocean transport to Montreal and
and then on to Saskatoon by truck for processing at the SRC.
The Naujaat Project is located near the
community of Naujaat, Nunavut. A total of eight
kimberlite pipes have been identified within the
Project as well as several laterally extensive
kimberlite dyke systems. The Q1 -4 kimberlite,
located just 7 km from the Company’s laydown
near the com munity, is the largest and most
diamondiferous of the kimberlites discovered to
date and hosts an important , potentially high -
value, population of Type IaA - Ib fancy
coloured, yellow to orange yellow, diamonds . At
12.5 ha in surface area, Q1 -4 hosts an estimated
inferred mineral resource of 26.1 million carats
total diamond content in 48.8 million tonnes of
kimberlite with average +1 DTC total diamond
content of 53.6 carats per hundred tonnes (cpht)
extending from surface to a depth of 205m.
Delineation drilling of Q1 -4 suggests significant
potential to expand the resource at depth with the deepest drill hole terminating in kimberlite at a depth of 376m. The reader
is cautioned t hat mineral resources are not mineral reserves and do not have demonstrated economic viability. Details on
data verification and resource estimation procedures can be found in the May 2013 technical report filed on www.sedar.com
as well as posted on North Arrow’s website along with details on subsequent exploration efforts on the Project [here].
The Naujaat Diamond Project exploration program is being conducted under the direction of Kenneth Armstrong, P.Geo.
(NWT/NU and ON ), President and CEO of North Arrow and a Qualified Person under NI 43 -101. Mr. Armstrong ha s
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 diamond exploration
opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience
in the global diamond industry. North Arrow’s most advanced diamond project i s the Q1-4 diamond deposit at the Naujaat
Project (NU), where a $5.6M 2,000 tonne bulk sample i s underway. The Company has also discovered and is evaluating
diamond bearing kimberlites at the Mel (NU) , Pikoo (SK), Loki (NWT) and LDG JV Projects (NWT). The Company 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 b y 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; po ssible variations in mineral
resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disp utes, 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 mater ially from those contained in
forward-looking statements, there may be other factor s that cause results not to be as anticipated, estimated or intended. There can be no assurance that
Q1-4 Sampling crew on the last day of filling bags posing with bag #2500.
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.