29 June 2023
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) reports it has concluded an agreement with Arctic Canadian Diamond Company under which the Lac de Gras joint venture has been terminated and North Arrow has acquired Arctic’s joint venture interest in the Lac de Gras Property, Northwest Territories. As a result, North Arrow retains a 100% interest in the Lac de Gras Property, including responsibility for the fully permitted exploration camp on the property.
This summer, North Arrow intends to evaluate the lithium potential of the property, particularly in the area of two spodumene pegmatite showings noted by Geological Survey of Canada mappers in the 1940’s.
North Arrow also reports it has agreed to purchase certain exploration data related to historic lithium exploration in the Northwest Territories. North Arrow has agreed to pay the arm’s length vendor 200,000 common shares of North Arrow at a deemed value of $0.065 per share. Issuance of the shares to the vendor is subject to the approval of the TSX Venture Exchange.