2009

North Arrow Receives Approval To Reprice Warrants Issued In July 2007


January 20, 2009

North Arrow Minerals Inc. (NAR: TSXV) is pleased to announce that the TSX Venture Exchange has approved the Company's application to amend the terms of 3,125,000 warrants issued to subscribers of a private placement which closed July 19, 2007. The exercise price of the subscriber warrants is now $0.15 per common share and the expiry date for these warrants has been extended by six months to July 19, 2009 from January 19, 2009.

The amended warrants contain an acceleration provision, such that, if, for a period of ten consecutive trading days (the "Premium Trading Days"), the closing price of the Company's shares is $0.19 per share or higher, the warrant exercise period will be shortened to a period of 30 days. This 30-day period will commence seven calendar days after the tenth Premium Trading Day.

Proceeds from any exercise of warrants will be used to continue to fund exploration activities and for working capital purposes.


North Arrow Minerals Inc.
"Gordon Clarke"

Gordon Clarke
President and CEO

For further information, please contact:

Gordon Clarke
President and CEO
Tel: 867 873-8483
Email: info@northarrowminerals.com
Website: www.northarrowminerals.com

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.

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