North Arrow Announces Discovery Of Hammer Kimberlite

July 30, 2009

North Arrow Minerals Inc. (NAR: TSXV) is pleased to announce the discovery of a new kimberlite on the Hammer property in the Coronation Gulf/North Slave Diamond District of Nunavut. The Hammer Property is located approximately 500 km north of Yellowknife, Northwest Territories, and is a joint venture between North Arrow (25% participating) and Stornoway Diamond Corporation (SWY-TSX 75% and operator). The Hammer kimberlite was discovered by a Stornoway geologist prospecting on a mineral claim acquired in October 2008. The claim was staked to cover the head of a previously unexplained kimberlitic indicator mineral anomaly with diamond inclusion chemistry.

The Hammer kimberlite appears associated with a prominent topographic feature that is 225m long, between 15 and 100m wide, and has a surface expression of approximately 1 hectare, although the true nature and size of the body is not known at this time. Weathered kimberlite breccia in bedrock was identified within hand dug pits, in addition to numerous scattered kimberlite occurrences of surface float and frost heaved kimberlite fragments. Previous analyses of till samples collected down-ice of the Hammer kimberlite have returned the full suite of traditional kimberlite indictor minerals, including both pyrope and eclogite garnets, and the mineral chemistry of these indicators is indicative of a potentially diamond bearing kimberlitic intrusive.

Representative samples of surface float and in-situ kimberlite were collected at site and are currently in transit south. Permafrost conditions and equipment constraints prevented the collection of a large sample of fresh kimberlite for representative microdiamond analysis at this time. North Arrow and Stornoway are currently reviewing future work required to properly assess the Hammer discovery.

This discovery was made possible in part by the Government of Canada's GEM (GeoMapping for Energy and Minerals) program, specifically the Diamonds Project as delivered federally by the Geological Survey of Canada. North Arrow's exploration programs are conducted under the supervision of Gordon Clarke, P.Geol. (NT&NU), Vice President, Exploration for North Arrow and a qualified person under NI 43-101 Stornoway's diamond exploration programs are conducted under the direction of Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, a Qualified Person under NI 43-101.

North Arrow Minerals Inc.

/s/ "D. Grenville Thomas"
D. Grenville Thomas
President and CEO

For further information, please contact:
D. Grenville Thomas
President and CEO
Tel: 604-668-8355

Gordon Clarke
Vice President, Exploration
Tel: 867-873-8483

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



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