Mr. Kenneth Armstrong reports

NORTH ARROW CLOSES DIAMOND ROYALTY SALE AT LDG PROJECT, NWT

North Arrow Minerals Inc. has closed its previously announced agreement granting Springbok Holdings Inc. a 2-per-cent diamond royalty on North Arrow's 100-per-cent-owned LDG project in the Northwest Territories. In exchange, Springbok has waived its right to receive a future $1-million share payment from North Arrow, which could have been triggered as early as this year if exploration proceeds as planned at newly discovered spodumene pegmatites on the property. The royalty will apply only to future diamond production and will not apply to other commodities, including lithium. North Arrow may purchase 1 per cent of the royalty (reducing the royalty from 2 per cent to 1 per cent) by making a single payment of $2-million at any time up to 24 months after the date on which the first royalty payment is due. Dr. Chris Jennings, a director of North Arrow, is a principal of Springbok. Further details related to the agreement can be found in North Arrow news release dated Feb. 5, 2024.

Any transaction with an insider constitutes a related party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of Multilateral 61-101 as the fair market value of the royalty is less than 25 per cent of North Arrow's market capitalization.

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 (NWT) 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 (NWT/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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