Mr. Kenneth Armstrong reports

NORTH ARROW DISCOVERS KIMBERLITE AT LOKI DIAMOND PROJECT LAC DE GRAS, NWT

North Arrow Minerals Inc. has discovered a new kimberlite during its winter exploration drilling program at the company's 100-per-cent-owned Loki diamond project in the Northwest Territories. The project is located in the Lac de Gras region, approximately 30 kilometres southwest and 24 kilometres 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.

Ken Armstrong, North Arrow's president and chief executive officer, stated: "To my knowledge, today's news represents the first public announcement of a new kimberlite discovery in the Lac de Gras region in over five years. The discovery of kimberlite follows on North Arrow's September, 2017, discovery of a new diamondiferous kimberlite field at our Mel project in Nunavut, and confirms North Arrow's position as a leading junior diamond exploration company in Canada.

"The Lac de Gras kimberlite field hosts the Ekati and Diavik diamond mines, which have produced in excess of $20-billion in rough diamonds over the last 20 years, and today's announcement highlights that the region, and particularly North Arrow's Loki and LDG diamond projects, remains prospective for new discoveries. North Arrow is planning drilling campaigns at both Mel and Loki during the summer of 2018, as well as at our LDG joint venture property with Dominion Diamond Mines."

Loki winter drilling program

Winter drilling at the Loki project has now wrapped up with the completion of four drill holes (607 metres) testing three targets. A summary of the drilling is provided in the following table.

Drill hole        Target/kimberlite    From (m)    To (m)    Interval (m)    EOH (m)
                                                            
18-465-01                       465        N/A       N/A             N/A        142 
18-465-02                       465      37.68     58.53           20.85        148  
18-EG05-05                     EG05      17.53       169          151.47        169  
18-EG05-06                EG05 west        N/A       N/A             N/A        148  

Target 465 was initially tested with a south-oriented drill hole (18-465-01) that encountered granite country rock with intermittent, non-magnetic mafic dikes and localized fracturing down to a depth of 142 metres. A second drill hole (18-465-02), positioned approximately 30 metres to the west, was drilled from south to north and encountered a 20.85-metre interval of black to olive green kimberlite with up to, and locally exceeding, 10-per-cent country rock (granite) dilution. The kimberlite is generally altered, and kimberlite indicator minerals including altered olivine and rare garnet have been observed. Orientation of the two drill holes suggests 465 may dip steeply to the south.

In addition to the discovery of 465, a single drill hole (18-EG05-05) also tested the central portion of the EG05 kimberlite. This vertical drill hole encountered resedimented volcaniclastic kimberlite below 17.5 metres of ice, water and overburden, and ended in volcaniclastic kimberlite at a depth of 169 metres.

Drill hole 18-EG05-06 tested a magnetic anomaly located approximately 160 metres southwest of drill hole 18-EG05-05. Kimberlite was not intersected and the associated magnetic anomaly remains unexplained.

Detailed logging of the kimberlite intervals from 465 and EG05 will occur over the next week, including sampling for kimberlite indicator minerals and microdiamonds. Additional drilling is required to evaluate the size, orientation and internal geology of the 465 and EG05 kimberlites, and the Loki project also hosts a number of untested drill targets having good kimberlite indicator mineral support. Planning is unde rway for a summer drilling campaign to continue evaluating this prospective area of the Lac de Gras region.

North Arrow acknowledges that the winter drilling program at the Loki diamond project, including the discovery of kimberlite 465, benefited from financing by the Northwest Territories' mining incentive program.

The Loki diamond project exploration programs are managed by Regan Chernish, PGeo, and Michael MacMorran, PGeo. North Arrow's diamond exploration programs are conducted under the direction of Mr. Armstrong, PGeo, president and CEO of North Arrow, and a qualified person under National Instrument 43-101. Mr. Armstrong has reviewed the contents of this press release.

About North Arrow Minerals Inc.

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 advisers have significant successful experience in the Canadian diamond industry. In addition to evaluating the Naujaat project, North Arrow is also conducting exploration drilling programs this spring at the Loki and LDG projects in the Northwest Territories and planning to drill test newly discovered diamondiferous kimberlite at the Mel project (Nunavut). The company is also awaiting till sample results from its Pikoo (Saskatchewan) project and maintains a 100-per-cent interest in the Hope Bay Oro gold project (Nunavut), located approximately three kilometres north of TMAC Resources' new Doris gold mine.

We seek Safe Harbor.