VANCOUVER, BC, July 2, 2024
/CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North
Arrow") is pleased to announce it has entered into an asset
purchase agreement with Agnico Eagle Mines Limited under which
North Arrow has sold its 100% interest in the Oro Gold Property,
Nunavut for cash consideration of
$1,750,000.
Ken Armstrong, President and
Chief Executive Officer of North Arrow, stated, "We are very
pleased to finalize this sale of the Oro gold property, representing a non-dilutive
injection of cash in support of North Arrow's ongoing work to
identify new exploration opportunities and to evaluate our existing
portfolio of Canadian lithium and diamond exploration
properties."
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on
the identification and evaluation of exploration opportunities in
Canada. North Arrow's management,
board of directors and advisors have significant successful
experience in the global exploration and mining industry. North
Arrow is evaluating spodumene pegmatites at its 100% owned LDG,
MacKay, and DeStaffany lithium projects (NWT) and also owns
interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) diamond
projects. North Arrow's exploration programs are conducted under
the direction of Kenneth Armstrong,
P.Geo. (NWT/NU, ON), President and CEO of North Arrow and a
Qualified Person under NI 43-101.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Website: www.northarrowminerals.com
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.
SOURCE North Arrow Minerals Inc.
