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North Arrow Confirms a 26.1 Million Carat Mineral Resource Estimate for the Qilalugaq Project, Nunavut

North Arrow Confirms a 26.1 Million Carat Mineral Resource Estimate for the 
Qilalugaq Project, Nunavut 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/15/13 -- North
Arrow Minerals Inc. (TSX VENTURE:NAR) ("North Arrow") is pleased to
announce the filing on SEDAR of a National Instrument ("NI") 43-101
technical report restating and confirming the Mineral Resource
estimate for the Q1-4 kimberlite located at the Qilalugaq Diamond
Project in Nunavut, Canada. The Qilalugaq Diamond Project includes
the Qilalugaq kimberlite pipes and the Naujaat system of kimberlite
dykes. North Arrow currently retains an option to earn an 80%
interest in the project from Stornoway Diamond Corporation. The
mineral resource estimate remains unchanged from the June 2012
mineral resource estimate reported by Stornoway. 
Highlights of the NI 43-101 technical report include: 


 
--  a total Inferred Mineral Resource for the Q1-4 kimberlite pipe of 26.1
    million carats from 48.8 million tonnes total content of kimberlite with
    an average +1 DTC total diamond content of 53.6 carats per hundred
    tonnes (cpht) extending from surface to a depth of 205m;
--  additional resource upside has been identified in the form of a target
    for further exploration for the Q1-4 kimberlite pipe of between 7.9 to
    9.3 million carats from 14.1 to 16.6 million tonnes total content of
    kimberlite with an average +1 DTC total diamond content of 56.1 cpht,
    extending from 205m depth to 305m depth.

 
The reader is cautioned that mineral resources that are not mineral
reserves do not have demonstrated economic viability. In addition,
the potential quantity and grade of any target for further
exploration is conceptual in nature, there has been insufficient
exploration to define a mineral resource, and it is uncertain if
further exploration will result in the target being delineated as a
mineral resource. 
Qilalugaq Mineral Resource Estimate 
The Qilalugaq Diamond Project comprises 7,143 hectares of land
located on the Rae Isthmus, which connects the Melville Peninsula to
mainland Nunavut. The property was originally staked by BHP Billiton
Diamonds Inc. and subsequently optioned by Stornoway in 2006.
Stornoway acquired a 100% interest in the project in 2010. A total of
eight kimberlite pipes (Q1-4, A34, A42, A59, A76, A94, A97 and A152)
have been identified within the project as well as a number of
laterally extensive kimberlite dyke systems. All kimberlites tested
to date, including seven of the kimberlite pipes, are diamondiferous
and occur within a 26 x 3 km structurally favourable corridor.  
The 12.5 hectare Q1-4 kimberlite, the largest kimberlite pipe in the
eastern Canadian Arctic, is situated approximately 8 km from
tidewater, and less than 9 km from the hamlet of Repulse Bay. Q1-4 is
interpreted as a complex, steep-sided, diatreme to root-zone
kimberlite, with a lobate external shape. It is comprised of five
phases of kimberlite: A28a, A48a, A48b, A61a and A88a, and has been
geologically modeled to a depth of 305m below surface. The pipe shape
was defined from drill hole data, country rock and kimberlite outcrop
exposures, and magnetic geophysical surveys. Kimberlite geology has
been determined using detailed logging of drill core and results of
petrographic studies and includes massive volcaniclastic kimberlite
classified as "tuffisitic" kimberlitic breccia, lesser coherent
"hypabyssal" kimberlite, and varying proportions of country-rock
xenoliths. 
The mineral resource estimate was authored by Geostrat Consulting
Inc. ("Geostrat"), and comprises the integration of kimberlite
volumes, density, petrology and diamond content-data obtained from
5,133 m of diamond drilling, 2,714 m of reverse circulation (RC)
drilling, 2.9 tonnes of samples submitted for microdiamond analysis,
257.7 tonnes of samples submitted for macrodiamond sampling with 59.2
carats of diamonds (2,054 stones) recovered from RC drilling, 7.5
carats of diamonds (205 stones) recovered from surface trenching and
2.36 carats of diamonds (69 stones) recovered from HQ diameter
diamond drilling. These data summarize the results of exploration
programs conducted on the Qilalugaq Property by BHPB from 2003 to
2005, and by Stornoway from 2006 to 2012. 
The technical report recommends proceeding to the collection of a
large tonnage surface sample at Q1-4 to collect an approximately 500
carat parcel of diamonds to better determine diamond grade, size
distribution, diamond parcel value and to establish whether or not
fancy yellow diamonds persist into the larger diamond sizes. North
Arrow is making plans to proceed with the collection of a bulk sample
during the summer of 2014. 
Qualified Persons for the NI 43-101 Report 
Mr. David Farrow, P.Geo. (BC) of GeoStrat is the independent
Qualified Person responsible for the preparation of the mineral
resource estimate section for the Qilalugaq Diamond Project and also
co-authored sections 1, 3, 12, 25 and 26 of the technical report. Ms.
Barbara Kupsch, P.Geol. (AB), an independent Qualified Person, also
co-authored the above mentioned sections and is responsible for
preparation of the remaining sections of the technical report. Both
of these Qualified Persons have reviewed and approved the contents of
this press release. 
About the Qilalugaq Diamond Project 
In April 2013, North Arrow acquired the right to earn an 80% interest
in the Qilalugaq Diamond Project by completing an option work program
consisting of the collection of a minimum 1,000 tonne mini-bulk
sample from the Q1-4 kimberlite for the purpose of recovering a large
enough parcel of diamonds to better determine diamond grade, size
distribution, diamond parcel value, and to establish whether or not
coloured diamonds persist into the larger diamond sizes. If North
Arrow completes the option work program and provides notice to
Stornoway of its intent to vest an 80% interest in the project,
Stornoway has a one-time right (the "Back-in Right") to buy-back a
20% interest in the project by paying to North Arrow an amount equal
to three times the costs incurred in connection with the option work
program. (Please see North Arrow news release #13-06 for additional
details on the option agreement with Stornoway.) 
About North Arrow Minerals 
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 advisors
have significant successful experience in the Canadian diamond
industry. In addition to the Qilalugaq project, North Arrow is also
working to earn an 80% interest in each of the Pikoo (Saskatchewan)
and Timiskaming (Ontario) diamond projects (please see North Arrow
news release dated April 29, 2013 for details); and a $1.3 million
overburden drilling program, operated and funded by Dominion Diamond
Corporation, is currently underway at the Company's Lac de Gras
diamond property, NWT.  
Qualified Person  
Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and
a Qualified Person under National Instrument 43-101, has reviewed and
approved the contents of this news release.  
North Arrow Minerals Inc.   
Kenneth Armstrong, President and CEO 
This news release contains "forward-looking statements" including but
not limited to statements with respect to North Arrow's plans, the
estimation of a mineral resource and the success of exploration
activities. Forward-looking statements, while based on management's
best estimates and assumptions, are subject to risks and
uncertainties that may cause actual results to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: risks related to the
successful integration of acquisitions; risks related to general
economic and market conditions; closing of financing; the timing and
content of upcoming work programs; actual results of proposed
exploration activities; possible variations in mineral resources or
grade; failure of plant, equipment or processes to operate as
anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining
industry; changes in national and local government regulation of
mining operations, tax rules and regulations. Although North Arrow
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. North Arrow undertakes no obligation or
responsibility to update forward-looking statements, except as
required by law. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
North Arrow Minerals Inc.
Ken Armstrong
604-668-8355 or 604-668-8354
604-689-5041 (FAX)
www.northarrowminerals.com
 
 
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