NORTH ARROW REPORTS RESULTS FROM MACKAY & LDG LITHIUM PROJECTS, NT 2.10% Li2O over 4m from the new MK3 Pegmatite
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
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News Release
NORTH ARROW REPORTS RESULTS FROM MACKAY & LDG LITHIUM PROJECTS, NT
2.10% Li2O over 4m from the new MK3 Pegmatite
December 4, 2023 Trading Symbol: TSXV: NAR #23-20
North Arrow Minerals Inc. (TSXV -NAR) (“ North Arrow ”) is pleased to report lithium assay results from fall 2023
exploration work at its 100% owned MacKay and LDG Lithium Projects in the Northwest Territories. The two properties are
located 10km apart, along the alignment of the annual winter road connecting Yellowknife with the Diavik dia mond mine,
approximately 13km to the north of LDG. Highlights of these assay results include:
• At the MacKay Project, 14 of 17 samples collected from the newly discovered MK3 pegmatite have returned over
1% Li2O, including 5 representative grab samples returning 5.25%, 4.08%, 2.71%, 1.92% and 1.10% Li2O.
• A composite rock sawn channel sample from MK3 returned 2.10% Li2O over 4 metres.
• Two additional composite 4 metre channel samples from MK3 have returned 1.49% Li2O and 1.43% Li2O.
• Three representative grab samples from the previously unsampled northeastern extent of the MK1 spodumene
pegmatite returned 3.21% Li2O, 2.62% Li2O and 0.11% Li2O.
• Representative samples from the northern extent of the LDG Project’s SD2 spodumene pegmatite have returned
3.19% Li2O, 1.53% Li2O and 1.46% Li2O, extending confirmed spodumene mineralization 260m to the north.
• A prospecting sample has returned 5.57% Li2O at the southern end of a newly mapped 200m long subcropping
spodumene pegmatite approximately 120m west of the main SD2 pegmatite showing.
Ken Armstrong, President and CEO of North Arrow commented, “ The initial lithium assays from the MK3 spodumene
pegmatite at North Arrow’s MacKay Project are highly encouraging and confirm MK3 as a new drill target. Additionally, the
confirmation of significant lithium grades in the SD2 area of the LDG P roject provides confidence the area hosts multiple,
subparallel spodumene pegmatites. Collectively, th ese results help advance our thesis that the LDG and MacKay Projects
could host spodumene pegmatites of similar size and grade to the deposits currently being drilled by other workers in the
Yellowknife Pegmatite Province (YPP). With the MacKay and LDG Projects, and the DeStaffany Project in the YPP, North
Arrow now holds a 100% interest in three Northwest Territories lithium projects where, during 2023, we have defined multiple
drill ready spodumene pegmatites. We are working towards seeing all three properties drilled in 2024.”
MacKay Lithium Project
The MK3 spodumene pegmatite was discovered this fall (please see North Arrow news release dated October 12, 2023), and
is a prominent 15 to 20m wide, white pegmatite exposure with common 2-30 cm long spodumene crystals . MK3 has been
traced near continuously for approximately 130m and remains open along strike to the west. Five representative grab samples,
collected from various locations along the showing have returned 5.25%, 4.08%, 2.71%, 1.92% and 1.1 0% Li2O. Three
follow-up channel samples, each four metres in length, have returned 2.10% Li2O, 1.49% Li2O and 1.43% Li2O, providing a
good representative i ndication of lithium mineralization within the pegmatite. It’s important to note the channels were cut
from outcrop areas amenable to sampling with a rock saw and did not test the entire exposed width of the pegmatite. An image
showing the locations of the channel and grab samples at MK3 can be found here a nd below.
Follow up sampling of the MK1 pegmatite, discovered earlier this summer approximately 4.5 km to the east of MK3, focused
on the eastern extent of the showing, w here three representative grab samples returned 3.21% Li2O, 2.62% Li2O and 0.11%
Li2O. These results build on earlier sampling, from which 10 of 12 rock samples returned over 1.1% Li 2O (please see North
Arrow news releases dated September 20, 2023 and August 14, 2023 f or details) and extend confirmed spodumene
mineralization at MK1 to a total strike length of 450m. An image compiling significant assay results from MK1 can be found
here a nd below.
The MacKay project area has also been expanded to 8,661ha with the staking of additional mineral claims and hosts additional
evolved pegmatite occurrences that require follow up evaluation in 2024.
LDG L ithium Project
New assays from the SD2 target area on the LDG property extend confirmed spodumene mineralization 260m northwards
with three representative grab samples returning 3.19% Li 2O, 1.53% Li 2O and 1.46% Li 2O. In addition, a separate,
subcropping pegmatite has returned 5.57% Li2O. This sample was collected at the southern end of a 200m long, subcropping
spodumene pegmatite running sub parallel to and approximately 120m west of the main SD2 pegmatite showing.
Outcrop exposures at both the SD2 and SD4 areas, where July sampling returned assays of up to 1.7% Li2O and 2.1% Li2O,
respectively (please see North Arrow news release date d September 18, 2023 f or details) , are generally of low profile and
limited by extensive glacial overburden. However, ongoing interpretation of field mapping data and detailed orthophoto and
geophysical informatio n indicate these pegmatites may extend beneath overburden along the ir interpreted strike. The
discovery of several subcropping pegmatites in the SD2 area, adjacent to the main pegmatite showing, support the concept
that multiple subparallel pegmatites occur in these target areas with the same size potential as seen at the spodumene pegmatite
occurrences in the Yellowknife Pegmatite Province. An image compiling significant assay results from SD2 can be found
here a nd below.
Sample Collection, Laboratory
Procedures and QA/QC
Samples were collected in the
field from rock sawn channels or
as representative grab samples
using a rock hammer. Channel
samples were cut using a portable
rock saw, with sampled material
collected at 1m intervals, chipped
from between parallel incisions
cut nominally 3-4cm apart and 3-
4cm deep. Individual channel
and grab samples were collected
into plastic polymer bags, sealed
and transported to ALS Global,
where sample preparation and
analytical work was conducted.
Samples were prepared using
ALS method CRU-31 (crushing
to 70% passing through a 2mm
screen), SPL -21 (split sample -
riffle split), and PUL -31
(pulverize up to 250g to 85%
passing through a 75- micron
screen). A 0.2g subsample of the pulverized material was analyzed for 52 elements using a sodium peroxide fusion by ICP -
MS (ALS method ME -MS89L). Samples returning >500ppm Li were also assayed using a 0.2g subsample dissolved in a
sodium peroxide solution and analyzed for lithium according to ALS method Li -ICP81. Lithium results are reported by the
lab as % Li and have been multiplied by 2.153 to convert to % Li 2O. Results passed QA/QC screening at ALS and North
Arrow’s inserted certified reference materials returned results within acceptable limits.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium an d other
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 its 100% owned
LDG, MacKay, and DeStaffany Lithium Projects (NWT) and is also exploring for lithium in Nunavut at the Bathurst Inlet
pegmatite field and continues work to identify additional lithium exploration opportunities in northern Canada. North Arrow
also owns interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Diamond Projects and maintains a 100% interest in the
Hope Bay Oro Gold Project, located approximately 3 km north of Agnico Eagle’s Doris Gold Mine, Nunavut. North Arrow’s
exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU, ON), 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.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong or Nick Thomas
Tel: 604-668-8354 or 778-229-7194
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. According ly, 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.