NORTH ARROW TO RAISE $266,000 SELLING LOKI DIAMOND PROJECT ROYALTY Completes Loki Summer Till Sampling Program, Lac de Gras, NWT
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604 668 8355 / Fax: 604 336 4813
News Release
NORTH ARROW TO RAISE $266,000 SELLING LOKI DIAMOND PROJECT ROYALTY
Completes Loki Summer Till Sampling Program, Lac de Gras, NWT
August 7, 2019 Trading Symbol: TSX: NAR #19-11
North Arrow Minerals Inc. (TSXV-NAR) is pleased to provide an update on its Loki Diamond Project, including the sale
of 0.5% royalty interests in the Project for $266,000. The Loki Project is located in the Lac de Gras region of the Northwest
Territories, approximately 30 km southwest, and 24 km west of the Ekati and Diavik diamond mines, respectively, and
immediately adjacent to the west of North Arrow’s LDG Joint Venture Diamond Project with Dominion Diamond Mines.
North Arrow has reached an agreement with Umgeni Holdings International Limited (“Umgeni”) under which Umgeni has
agreed to increase its royalty interests in the Loki Project from 1.5% to 2.0% in exchang e for payment of $266,000 to North
Arrow. The royalties consist of net smelter return royalties on base and precious metals and a gross overriding royalty on
diamonds. Umgeni is a private company of which Christopher Jennings, a director of North Arrow, is a beneficiary of the
sole shareholder. Closing of the agreement with Umgeni is subject to the receipt of all required regulatory approvals including
approval of the TSX Venture Exchange.
North Arrow also announces completion of a summer till sampling program at the Loki Project. A total of 190 samples were
collected and are presently being shipped to a laboratory for processing and recovery of kimberlite indicator minerals. Sample
results will be used to prioritize targets for ground geophysical surveys and exploration drilling. In addition to the funds raised
by the royalty sale to Umgeni, this exploration is also supported by a grant from the Northwest Territories’ Mining Incentive
Program.
Ken Armstrong, President and CEO of North Arrow, commented, “Proceeds from the royalty sale announced today, combined
with the NWT Mining Incentive Program grant, provide for the non-dilutive financing of continued exp loration at the Loki
Diamond Project. We believe the Lac de Gras region remains highly prospective for the discovery of new diamond deposits,
as highlighted by North Arrow ’s recent discoveries of new kimberlites at Loki ( April 5, 2018 ) and the L DG joint venture
(July 8, 2019). The current till sampling program has filled some crucial gaps in the Loki Project’s sampling database and
the results will be important in prioritizing targets for drilling in the winter of 2020.”
The Loki Diamond Project exploration program is managed and directed by Michael MacMorran, P.Geo. (NWT/NU), Project
Geologist of North Arrow . 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. MacMorran and
Mr. Armstrong have 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 global diamond industry. North Arrow’s most advanced project is the Q1 -4 diamond deposi t at the Naujaat Project
(NU) where planning is underway for collection of a large, 10,000 tonne bulk sample. The Company has discovered and is
evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is evaluating and exploring for additional kimberlites
at the Loki Project (NWT ) and has exposure to discovery drilling at the LDG JV Project (NWT) with partner Dominion
Diamond Mines. The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately
3 km north of TMAC Resources’ 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 insura nce
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.