North Arrow Starts Exploration Work at DeStaffany Lithium Project, NWT

VANCOUVER, British Columbia, June 13, 2023 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to announce the start of the 2023 exploration field program at its 100% owned DeStaffany Lithium Property, Northwest Territories. Highlights of this initial lithium exploration program will include:

• Detailed evaluation of the Moose 1 and Moose 2 lithium pegmatites including mapping and rock sawn channel sampling;
• Mineralogical characterization sampling of spodumene mineralized exposures of the Moose 1 and Moose 2 pegmatites. Spodumene is the primary lithium-bearing mineral of interest in these deposits. Sampling of exposed mineralization will allow for spodumene recovery and characterization studies to be completed in advance of exploration drilling planned for August and September;
• Property wide prospecting of identified target areas for previously undiscovered or undocumented spodumene mineralized pegmatites; and
• Program funding has recently been enhanced by a $180,000 grant awarded to the DeStaffany Lithium Project under the Mining Incentive Program (MIP) of the Government of the Northwest Territories.

Ken Armstrong, President and CEO of North Arrow commented, “The start of this exploration program is an important milestone for North Arrow, as the DeStaffany Lithium Project represents a compelling spodumene pegmatite target with rapid evaluation potential. Historic tantalum mining of the Moose 2 pegmatite has exposed spodumene mineralization that is easily accessible for the mineralogical characterization sampling currently underway, and channel sampling of the Moose 1 pegmatite will provide the first full evaluation of spodumene mineralization and its distribution in this pegmatite. Furthermore, the property’s first exploration drilling program is planned for later this summer and potential discovery of additional spodumene pegmatites during current fieldwork could add new targets to include as part of this drilling.”

Mr. Armstrong continued, “The combination of drilling and surface sampling at DeStaffany is intended to rapidly evaluate the resource potential of these pegmatites. Their location, within 300 metres of the shoreline of Great Slave Lake, is unique in the Yellowknife Pegmatite Province, and allows for excellent access to the property, including barge access to the NWT’s railhead in Hay River. With the recent closing of a $2.4M financing and the start of exploration fieldwork, we look forward to reporting our progress at DeStaffany and North Arrow’s other lithium exploration properties over the next several months.”