4 February 2021
North Arrow Minerals Inc. is pleased to announce it has entered into a data sharing and royalty agreement with StrategX Elements Corp. involving North Arrow’s Mel Diamond Project, Nunavut.
Under terms of the agreement, StrategX has acquired the non-diamond mineral rights to the 56,000 ha Mel property, subject to North Arrow retaining a 1% gross overriding royalty (“GOR”) on non-diamond production from both the property and an approximately 435,000 ha surrounding area of interest (“AOI”). North Arrow will retain 100% of the diamond rights to any mineral claims acquired by StrategX within the AOI, subject to StrategX retaining a 2% GOR on diamonds, reduced to 1% where an existing 1% GOR interest applies (please see North Arrow news release dated August 19, 2013 for details on the existing royalty). The agreement also provides for logistics and cost sharing during exploration programs.