NAR North Arrow Minerals Inc

Editors Note: There is a video accompanying this press release. 

North Arrow Minerals Inc. (TSX VENTURE:NAR) ("North Arrow") is pleased to
provide an update on the ongoing 1,500 tonne bulk sampling program at the
Qilalugaq Diamond Project located near the hamlet of Repulse Bay (Naujaat),
Nunavut. The intent of the program is to recover a diamond parcel of
approximately 500 carats for the purpose of determining an initial value
estimate for the diamonds in the Q1-4 kimberlite. North Arrow is funding the
bulk sampling program as part of an option agreement with Stornoway Diamond
Corporation (TSX:SWY) ("Stornoway"). 


The 2014 bulk sample program involves the collection of approximately 1,500
tonnes from the 12.5 hectare Q1-4 kimberlite, located seven kilometres from
tidewater on the Arctic Ocean and nine kilometres from Repulse Bay. The sample
is being collected by surface trenching of an area of Q1-4 where there is
limited (less than 1m) overburden cover. In 2007, Stornoway collected (from hand
dug pits) a 20.3 tonne sample from this same area and recovered 6.1 carats of
diamonds for a sample grade of 30 carats per hundred tonnes ("cpht"). 


As at August 3, 2014 the bulk sample was over 64% complete with approximately
960 t of kimberlite sample collected and transported to the company's sample
laydown site in Repulse Bay. The remainder of the sample will be collected over
the next three weeks and the entire sample will be shipped south on the annual
sealift scheduled to arrive in Repulse Bay on August 25th. Sample processing is
expected to commence in early October. The sample will be processed for the
recovery of commercial sized (+0.85 mm) diamonds and the resulting diamond
parcel will be used to better determine diamond content, size distribution,
diamond parcel value and to establish whether or not fancy yellow diamonds
persist into the larger diamond sizes.


About the Qilalugaq Diamond Project

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 Q1-4 kimberlite is the primary
exploration target within the project and hosts a total Inferred Mineral
Resource of 26.1 million carats from 48.8 million tonnes with an average +1 DTC
total diamond content of 53.6 cpht. Additional resource upside has also 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 with an average +1 DTC total diamond content of 56.1 cpht (please see
North Arrow news release dated May 15, 2013 for details on this resource
estimate). 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.


North Arrow is currently working 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 sample from the Q1-4 kimberlite. 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 dated April 29th,
2013 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 evaluating each of the Pikoo (SK),
Redemption (NWT), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC)
Diamond Projects.


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.  



/s/ "Kenneth A. Armstrong"                                                  
Kenneth Armstrong                                                           
President and CEO                                                           



Neither the TSX Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.


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.


To view the video accompanying this press release, please visit the following link:

https://www.youtube.com/watch?v=CKLnA5e2AyQ&feature=youtu.be

FOR FURTHER INFORMATION PLEASE CONTACT: 
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
Website: www.northarrowminerals.com

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