VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) is pleased to announce that Ms. Torrie Chartier has been elected as an independent director to the Company’s board of directors, increasing the number of directors to five.
Ken Armstrong, President and CEO of North Arrow, stated, “It is a pleasure to welcome Torrie Chartier to the North Arrow board. Ms. Chartier is an experienced industry professional and North Arrow will benefit from her expertise and advice as the company takes advantage of improving diamond market sentiment to advance our Canadian diamond exploration projects in 2021, including an important $5.6 million, 1,500 to 2,000 tonne bulk sample program at the Naujaat Diamond Project, fully financed and set to start in June 2021.”
Ms. Chartier presently serves as CFO and a Director of Uravan Minerals Inc., and as Principal and Company Manager of Elbow River Helicopters, both Calgary based businesses. In addition to her involvement in the junior exploration sector as a financial executive, Ms. Chartier also brings to the role over 20 years of experience as a diamond exploration geologist. Ms. Chartier holds a BSc. from Lake Superior State University (1984), M.Sc. from Michigan Technology University (1986) and an MBA from the University of Calgary, Alberta (2003). In the 1980-90’s, Torrie worked as an independent consultant and diamond geologist in exploration projects for various junior companies and was directly involved in the discovery of kimberlites in Michigan, NWT, Nunavut, and Greenland.
The Company also announces that, pursuant to the North Arrow Stock Option Plan, a total of 400,000 incentive stock options have been granted to a director of the Company. The stock options are exercisable to acquire one common share of North Arrow at $0.10 per share and can be exercised until December 17, 2025.
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 global diamond industry. North Arrow’s most advanced project is the Q1-4 diamond deposit at the Naujaat Project (NU), where funding is in place through an agreement with Burgundy Diamond Mines Limited (ASX - BDM), for a 1,500 to 2,000 tonne bulk sample in 2021. North Arrow has discovered and is evaluating diamond-bearing kimberlite fields at the Mel (NU) and Pikoo (SK) Projects and is evaluating and exploring for additional kimberlites at the Loki and LDG JV Projects (NWT). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ Doris Gold Mine.
The contents of this news release have been reviewed by Ken 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”
President and CEO
For further information, please contact:
Tel: 604-668-8355 or 604-668-8354
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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.