Mr. Ken Armstrong reports

NORTH ARROW REPORTS ASSAYS FROM SPODUMENE PEGMATITES AT THE LDG LITHIUM PROJECT, NWT

North Arrow Minerals Inc. has released initial lithium assays from spodumene pegmatites discovered in July at the company's 100-per-cent-owned LDG property, Northwest Territories, and mobilization is under way for a fall exploration program at the property. Highlights of today's news include:

• Five of seven representative grab samples from the SD4 spodumene pegmatite have returned from 1.10 per cent Li2O (lithium oxide) to 2.17 per cent Li2O.
• Seven of eight rock-sawn channel samples from the SD2 spodumene pegmatite have returned from 0.40 per cent Li2O to 1.70 per cent Li2O.
• Based on mapping of low-relief outcrop exposures, SD2 and SD4 are interpreted as steeply dipping (75 to 80 degrees) feldspar-quartz-muscovite-spodumene pegmatites, estimated at 10 to 20 metres wide and over 400 metres in strike length. The pegmatites are located approximately two kilometres apart and remain open below overburden along strike.
• Spodumene is coarse grained and locally abundant in both pegmatites, reaching 15 to 20 per cent in some outcrops.
• Follow-up exploration fieldwork is under way with planned work to include mapping, prospecting and ground magnetic surveys as well as spotting initial proposed drill holes ahead of a spring 2024 exploration drill program.

Ken Armstrong, president and chief executive officer 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 firefighters, numerous volunteers and governments, NWT residents are safely returning to their communities, and we are able to renew fieldwork 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 five 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 fieldwork is expected to include prospecting for additional spodumene pegmatites, bedrock mapping, rock and soil sampling, and ground magnetic surveys.

Sample collection, laboratory procedures and quality assurance/quality control

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 one m intervals, chipped from between parallel incisions cut nominally three to four centimetres apart and three to four 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 were conducted. Samples were prepared using ALS method CRU-31 (crushing to 70 per cent passing through a two-millimetre screen), SPL-21 (split sample -- riffle split) and PUL-31 (pulverize up to 250 grams to 85 per cent passing through a 75-micron screen). A 0.2-gram subsample of the pulverized material was analyzed for 52 elements using a sodium peroxide fusion by inductively coupled plasma mass spectrometry (ALS method ME-MS89L). Samples returning greater than 500 parts per million Li were also assayed using a 0.2-gram 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 per cent Li and have been multiplied by 2.153 to convert to per cent Li2O. Results passed QA/QC screening at ALS.

About North Arrow Minerals Inc.

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 advisers have significant successful experience in the global exploration and mining industry. North Arrow is evaluating spodumene pegmatites at its 100-per-cent-owned LDG, MacKay and DeStaffany lithium projects (Northwest Territories) 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 (Nunavut), Pikoo (Saskatchewan) and Loki (Northwest Territories) diamond projects and maintains a 100-per-cent interest in the Hope Bay Oro gold project, located approximately three km north of Agnico Eagle's Doris gold mine, Nunavut. North Arrow's exploration programs are conducted under the direction of Mr. Armstrong, PGeo (Northwest Territories/Nunavut, Ontario), president and CEO of North Arrow, and a qualified person under National Instrument 43-101. Mr. Armstrong has reviewed and approved the technical contents of this press release.

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