North Arrow Identifies Two Additional Spodumene Pegmatites at the DeStaffany Lithium Project, NWT

11 July 2023

(July 11, 2023) North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to provide an update on the 2023 exploration field program at its 100% owned DeStaffany Lithium Property, Northwest Territories. Highlights of this initial exploration program include:

  • The extent of spodumene mineralization has been expanded at the Moose 1 and Moose 2 pegmatites.
  • Prospecting has identified spodumene mineralization within the newly confirmed Moose 3 and Moose 4 pegmatites, doubling the number of spodumene pegmatites known on the property.
  • 68 rock sawn channel samples have been collected from all four pegmatites, including 54 samples collected from 14 channels over a roughly 300m strike extent of the Moose 1 pegmatite.
  • Mineralogical characterization samples have been collected from the Moose 1 and Moose 2 pegmatites, including a representative sample intended to evaluate the suitability of ore sorting technology to produce a spodumene concentrate from Moose 2.
  • A Type A land use permit was granted on July 7, 2023, allowing the project to proceed with an initial first pass drill program, scheduled to commence in August.
  • A previously disclosed grant awarded to the DeStaffany Lithium Project under the Mining Incentive Program (MIP) of the Government of the Northwest Territories has been increased to $192,000.

Ken Armstrong, President and CEO of North Arrow commented, “We’ve had a strong start to what is really the first full evaluation of the lithium potential of the DeStaffany property. The Moose 1 pegmatite has now been well sampled at surface with completion of 14 new channel samples. The length of individual rock sawn channels is limited by available bedrock exposure, so the upcoming drilling will be important for defining the true widths and size potential of the Moose pegmatites. The confirmation of significant spodumene mineralization at the Moose 3 pegmatite, located approximately 1km to the northwest of Moose 1, suggests it is a strong candidate for inclusion in the August drill program.”

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