North Arrow Reports Assays From Spodumene Pegmatites At The LDG Lithium Project, NWT

September 18, 2023


North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to report initial lithium assays from spodumene pegmatites discovered in July at the company’s 100% owned LDG Property, Northwest Territories, and that mobilization is underway for a fall exploration program at the property. Highlights of today’s news include:

Ken Armstrong, President and CEO of North Arrow commented “We are pleased to confirm significant lithium assays from the SD2 and SD4 spodumene pegmatites discovered this summer at North Arrow’s LDG lithium property. Unfortunately, plans for drilling the property in September were suspended as a result of the wildfires impacting residents of the NWT. However, with thanks to the tremendous work of fire fighters, numerous volunteers and governments, NWT residents are safely returning to their communities, and we are able to renew field work focused on understanding the size potential of these pegmatites, as well as prospecting for new discoveries within this highly prospective area.”

The LDG property covers an 18 km corridor of underexplored metasedimentary rocks located adjacent to a fertile, two-mica granite, very similar in age and setting to the host rocks of the spodumene pegmatites of the Yellowknife Pegmatite Province. At LDG, less than seven kilometres of this prospective trend have been prospected to date and, in addition to SD2 and SD4, at least five other pegmatites, up to 50 m wide, have been identified and require further mapping and sampling to understand their potential to host significant lithium mineralization. Located within 5 km of the winter road infrastructure connecting Yellowknife with the Lac de Gras region, the size potential and lithium mineralization of the SD2 and SD4 pegmatites highlight the potential of the LDG property to host a significant spodumene lithium discovery on par with the Yellowknife Pegmatite Province. Current field work is expected to include prospecting for additional spodumene pegmatites, bedrock mapping, rock and soil sampling and ground magnetic surveys.

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 1 m intervals, chipped from between parallel incisions cut nominally 3-4 cm apart and 3-4 cm 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 2 mm screen), SPL-21 (split sample - riffle split), and PUL-31 (pulverize up to 250 g to 85% passing through a 75-micron screen). A 0.2 g 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 0.2 g 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 % Li2O. Results passed QA/QC screening at ALS.

About North Arrow Minerals

North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium and 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. (NT/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

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.

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