North Arrow to Sell Contwoyto Project, Nunavut
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604 668 8355 / Fax: 604 604 336 4813
News Release
NORTH ARROW TO SELL CONTWOYTO PROJECT, NUNAVUT
March 30, 2017 Trading Symbol: TSXV: NAR #17-04
North Arrow Minerals Inc. (TSXV-NAR) is pleased to announce it has entered a purchase and sale agreement with Crystal
Exploration Inc. (TSXV-CEI) under which Crystal will acquire North Arrow’s 100% interest in the Contwoyto Project,
Nunavut, including the Butterfly gold prospect.
Under the terms of the purchase and sale agreement, Crystal will acquire North Arrow’s 100% interest in the project in
exchange for consideration of $ 100,000 in cash and 1,0 00,000 shares of Crystal , of which $50,000 cash will be paid and
500,000 shares issued at closing of the transaction. The balance of the cash and share payments are due on or before December
15, 2018. As additional consideration , North Arrow will retain a 1 .0% gross overriding royalty on diamonds and a 1.0% net
smelter returns royalty on precious and base metals . Half (0.5%) of the royalties can be purchased by Crystal at any time for
a payment of $1.0 million. North Arrow will also receive conditional share payments of 500,000 Crystal shares in the event
Crystal reports an inferred gold resource exceeding 250,000 ounces associated with the Butterfly gold prospect and a further
500,000 Crystal shares in the event Crystal reports a separate inferred resource of at least 250,000 ounces gold outside of the
Butterfly area.
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 Canadian diamond industry. North Arrow is currently evaluating a number of projects including the Naujaat (formerly
Qilalugaq) (NU), Mel (NU), Pikoo (SK), LDG (NT), and Loki (NT) Diamond Projects. North Arrow also maintains a 100%
interest in the Hope Bay Oro Gold Project (NU), located approximately 3km north of TMAC Resources’ new Doris Gold
Mine. North Arrow’s 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. Armstrong has reviewed the 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
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.