North Arrow Reports Naujaat Project Bulk Sample Processing is Underway
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604-668-8355
News Release
NORTH ARROW REPORTS NAUJAAT PROJECT BULK SAMPLE PROCESSING IS
UNDERWAY
October 26, 2021 Trading Symbol: TSXV: NAR #21-13
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) reports the start of processing of a 2,000 tonne bulk sample
from its Naujaat Diamond Project, NU. The 2,500 bag sample was collected from the Q1-4 kimberlite in July and August and
arrived in Montreal on October 6, 2021. As of October 22, approximately one third of the sample has been delivered to the
Saskatchewan Research Council Geoanalytical Laboratory in Saskatoon, SK. The balance of the sample is expected to be
delivered over the next several weeks.
Dense media separation (DMS) processing of the sample is underway. The recovered diamond parcel is intended to confirm
the size distribution and character of an important population of potentially high -value, fancy yellow to orange yellow
diamonds. Diamond recoveries are expected to be reported in stages as processing is completed on each of five subsamples.
Ken Armstrong, President and CEO of North Arrow commented , “The start of bulk sample processing is an important
milestone for the Naujaat Project. The purpose of this sample is to confirm that a unique population of fancy yellow to orange
yellow diamonds extend into coarser diamond sizes. The quality of these diamonds will also be very important as we believe
these fancy coloured diamonds will be a key value driver for potential future development of 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. Further details on the collection of the bulk samples can be found in North Arrow’s news release dated August 19,
2021.
About the Naujaat Project
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 community, 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 that 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 th e 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 is 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 Pikoo (SK), Mel (NU), 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 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, 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.