Mr. Kenneth Armstrong reports

NORTH ARROW REPORTS ADDITIONAL LITHIUM ASSAYS FROM THE MACKAY LITHIUM PROJECT, NWT

North Arrow Minerals Inc. has released new lithium assays from the company's 100-per-cent-owned MacKay Lake property, Northwest Territories, and that additional exploration work is under way.

Six of eight rock-sawn channel samples from the MK1 spodumene pegmatite, discovered in June, 2023, have returned Li2O (lithium oxide) assay results of 1.16 per cent, 1.34 per cent, 1.87 per cent, 1.90 per cent, 1.93 per cent and 2.30 per cent. These samples were collected over one-metre intervals in July, 2023, and complement the assays of prospecting grab samples that returned from 2.45 per cent to 3.74 per cent Li2O, as reported in North Arrow's news release dated Aug. 14, 2023.

Based on limited field mapping, MK1 is interpreted as a series of irregular subparallel pegmatite dikes ranging from 0.5 metre to over 10 m in width. Spodumene mineralization comprises up to 20 per cent of the pegmatite exposures, with crystals ranging from two centimetres to four cm in length. The pegmatites are intercalated with metasedimentary rocks over an estimated combined width of 150 m and an interpreted strike extent of over 400 m. Bedrock exposures are of relatively low relief with significant potential to extend the pegmatite along strike beneath overburden.

Ken Armstrong, president and chief executive officer of North Arrow, commented: "The MK1 pegmatite lies within the same prospective metasedimentary rocks as the SD spodumene pegmatites located on North Arrow's LDG property approximately 20 kilometres to the north, and reported in North Arrow news release date Sept. 18, 2023. Today's channel sample results confirm the potential of MK1 to host a significant new lithium discovery, a concept we look forward to testing as part of a spring 2024 drill program. Beyond MK1, the MacKay property covers an additional 14 km length of this prospective metasedimentary corridor, which is geologically very similar to the host rocks of the spodumene pegmatites being evaluated in the Yellowknife pegmatite province. We believe the opportunity for additional discoveries of spodumene pegmatites is significant, and a field program is presently under way on both the MacKay and LDG properties, consisting of additional mapping, prospecting, sampling and ground geophysical surveys, ahead of drilling to be conducted in spring 2024."

The MacKay property is located adjacent to the Lac de Gras winter road, and continued evaluation will benefit from use of the road, as well as North Arrow's existing land use permit and exploration camp on the LDG property.

Sample collection, laboratory procedures and quality assurance/quality control (QA/QC)

Samples were collected in the field from rock-sawn channels, cut using a portable rock saw. Sampled material was collected at one m intervals, chipped from between parallel incisions cut nominally three cm to four cm apart and three cm to four cm deep. 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 per cent passing through a two-millimetre (mm) 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 g subsample of the pulverized material was analyzed for 52 elements using a sodium peroxide fusion by ICP-MS (inductively coupled plasma mass spectrometry) (ALS method ME-MS89L). Samples returning greater than 500 parts per million (ppm) lithium 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 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 (NWT), 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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