Mr. Ken Armstrong reports

NORTH ARROW DRILLING PROGRAM UNDERWAY AT PIKOO, SASKATCHEWAN

Winter 2016 exploration drilling program is under way at North Arrow Minerals Inc.'s Pikoo diamond project in central-eastern Saskatchewan. Approximately 2,500 metres of drilling is planned to fully delineate diamond-bearing kimberlite discoveries made in 2013 and 2015, and to test new targets identified from recent geophysical surveys. Ground geophysical surveys of selected target areas are under way and the drill is to be mobilized to the property this week. The program is expected to run through to the end of March, 2016.

A total of seven discrete kimberlite occurrences have been discovered to date within the Pikoo project, four of which have been confirmed as diamond bearing. The most significant discovery to date is the PK150 kimberlite, from which a total of 531.1 kilograms has been tested by caustic fusion analyses, returning 1,232 diamonds greater than 0.106 millimetre including 32 diamonds greater than 0.85 mm. (Please see North Arrow news release No. 15-14 dated Oct. 20, 2015, for details.) The 2016 drilling program is designed to fully define the extent of the PK150, PK311 and PK312 kimberlites, and to test a number of new targets within the project area.

Exploration of the Pikoo project is conducted under an 80 per cent (North Arrow)/20 per cent (Stornoway Diamond Corp.) participating joint venture arrangement. The joint venture has approved a $1.69-million budget (including contingencies) for the 2016 drilling program. Stornoway has elected not to contribute its share of the 2016 exploration budget. North Arrow has elected to solely finance the program and as a result its ownership interest will increase to approximately 85 per cent.

North Arrow's diamond exploration programs are conducted under the direction of Kenneth Armstrong, PGeo (Ontario), president and chief executive officer of North Arrow, and a qualified person under NI 43-101. Mr. Armstrong has reviewed and approves of the scientific and technical content in this news release.

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