TSXV: NAR TSXV:NAR Canada’s Most Active Diamond Explorer December 2019
CAUTIONARY STATEMENT This presentation contains projections and forward looking information that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization, resources, reserves, exploration results and plans and objectives of North Arrow Minerals Inc. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and Forward the need for adequate financing for future exploration and development efforts. There Looking can be no assurance that such statements will prove to be accurate. Actual results and Information future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward looking statements should circumstances or management's estimates or opinions change. Disclosure of a scientific or technical nature related to North Arrow’s projects in this Qualified presentation has been reviewed and approved by Ken Armstrong, P.Geo. President and Person under CEO of North Arrow and a Qualified Person under NI 43-101. NI 43-101 1
CORPORATE OVERVIEW as of November 12, 2019 Capitalization Corporate Listing: TSX Venture – NAR Highlights Issued: 110.7 M Options: 10.3 M* Warrants: 44.4 M (25 M @ $0.225, 17.9 M @ $0.10) Fully diluted: 165.4 M Estimated Working Capital: ~$1.0 M M ain Shareholders Management/Directors/Advisors ~24.4% Zebra Holdings and Investments ~10.3% Electrum Strategic Opportunities Fund ~10.3% Ross Beaty ~8.8% *Includes stock options issued November 8, 2019 2
CORPORATE OVERVIEW - PEOPLE D. Grenville Thomas (Chairman) Founder of Aber (now Dominion Diamond), discoverer of the Diavik Diamond Mine; Canadian Mining Hall of Fame inductee. Ken Armstrong P.Geo.(ON) (President, CEO, Director and Qualified Person under NI 43-101) Diamond exploration and evaluation experience with Diavik, Aber, De Beers, Navigator, and Stornoway. Christopher Jennings (Director) Founder of SouthernEra, consultant to Aber; formerly with International Corona Corp., BP Minerals (Canada) and Falconbridge. Blair Murdoch (Director) More than thirty years experience in senior management of Management private and public companies. Highlights Eira M. Thomas (Advisor) Extensive diamond exploration and development experience in Canada and Africa; Founder, CEO & director of Lucara; former officer and director of Aber; former CEO of Kaminak Gold Corporation (acquired by Goldcorp in 2016 for $520 million); currently director of Suncor. Robin Hopkins (Advisor) 25+ years diamond exploration, evaluation and development experience with Stornoway, Navigator, and Aber. Allison Rippin Armstrong (Advisor) 20+ years CSR experience; Ex-Kaminak Gold. 3
DIAMOND DISCOVERIES: A CANADIAN LEADER North American Diamond Exploration 2 Kimberlite and related rocks Pre-1981 1981-2012 1 2013-2019 • Six kimberlite fields discovered in the last six years. • North Arrow discovered two of them: (1) Pikoo & (2) Mel; the only junior explorer to make a discovery in that period. • Both significantly diamondiferous. J:\1Maps\NorthAmerica\CanadaDEM\DEM 4
CORPORATE OVERVIEW – PROJECTS Assessing a known kimberlite or Advanced Stage diamond deposit 1. Naujaat (100%) Significant diamond inventory; potential value upside: fancy orange-yellow diamonds Next stage of diamond exploration Discovery Stage could lead to discovery 8 2 1 2. Mel (100%) Kimberlite Field discovery EKATI 3. Loki (100%) Kimberlite 465 discovered 2018; DIAVIK 6 1 st Lac de Gras discovery in > 5 years GAHCHO KUE 4. LDGJV (Dominion ) Kimberlite discovery in 2019 5. Pikoo (100% ) Kimberlite Field discovery 6. Luxx (100%) Permitted & drill ready 5 Grassroots Target development RENARD 7 VICTOR 7. Timiskaming (JV w SWY) Within 3km of TMAC’s Doris Mine; Brownfields Gold similar geology and structures 8. Hope Bay (100%) EXISTING DIAMOND MINE 5
CORPORATE OVERVIEW – PROJECTS Assessing a known kimberlite or Advanced Stage diamond deposit 1. Naujaat (100%) Significant diamond inventory; potential value upside: 1 EKATI DIAVIK GAHCHO KUE RENARD VICTOR Fancy orangey-yellow & yellow diamonds 6 EXISTING DIAMOND MINE
NAUJAAT PROJECT Q1-4 Kimberlite • Q1-4 Kimberlite >20M carats to 200m below surface * • >12 ha; low potential strip ratio (<2:1) • Within municipality of Naujaat • ~8km from coast • • Access Trail • Community led initiative • Funding options: Federal, Territorial, North Arrow • Access to Multiple Kimberlites • Passes within 1.5 km of Q1-4 diamond deposit 11 km Access Trail ATV Upgrade: 4 km • Within 6 km of three other large Access Trail New Alignment: NAR 1.5 km Spur Road: diamondiferous kimberlites Laydown Kimberlite: Bridge: • Bulk Sample Culvert: - Access trail designed to handle 20 tonne truck Aggregate Deposit: - ‘Spur road’ will give truck access to Q1-4 - Flexibility to process at site or at Laydown 7 * CAUTION – Inferred Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability
Q1-4 DIAMOND DEPOSIT: STATUS 2015 diamond valuation was based on 384 carats recovered from ~1,350 t $92 per carat modelled “possible high” | $43 per carat modelled “possible low” Primary conclusions from the 2015 valuation: • Parcel too small • Yellow diamonds were considered of little interest. Q1-4 “run of mine” from 2014 sample; +9DTC and above. 2015 – Commenced two phase approach to show value upside of Q1-4 diamonds : 1) Cutting/polishing of yellow diamonds 2) Analysis of diamond size frequency distributions (SFD ) 8
Q1-4 DIAMOND PROJECT: STATUS How the project advanced (2015 to present): 1. Cut & Polished Yellow Diamonds: Certified by GIA as fancy vivid orangey yellow diamonds • • Desirable to the luxury gem/jewelry trade 9
Q1-4 DIAMOND PROJECT: STATUS How the project advanced (2015 to present): 1. Cut & Polished Yellow Diamonds: Certified by GIA as fancy vivid orangey yellow diamonds • • Desirable to the luxury gem/jewelry trade 2. Nitrogen aggregation studies show the yellow and white diamonds are distinct populations 10
Q1-4 DIAMOND PROJECT: STATUS How the project advanced (2015 to present): 1. Polished Yellow Diamonds: Certified by GIA as fancy vivid orangey yellow diamonds • • Desirable to the luxury gem/jewelry trade Q1-4 Grade/Size Curve Comparative Curves 2. Nitrogen aggregation studies show the yellow and white diamonds distinct populations Total Parcel 3. Yellow diamonds show a much coarser size frequency distribution (SFD) implying potential for higher abundance of yellow diamonds in coarser sizes ‘Dark Yellow’ only 11
Q1-4 DIAMOND PROJECT: STATUS How the project advanced (2015 to present): 1. Polished Yellow Diamonds: Certified by GIA as fancy vivid orangey yellow diamonds • • Desirable to the luxury gem/jewelry trade Q1-4 Grade/Size Curve Comparative Curves 2. Nitrogen aggregation studies show the yellow and white diamonds distinct populations Total Parcel 3. Yellow diamonds show a much coarser size frequency distribution (SFD) implying potential for higher abundance of yellow diamonds in coarser sizes 4. 2015 possible low to high model prices applied to the coarse yellow SFD scenario results in low to high price range of ‘Dark Yellow’ $60 to $220 per carat only 12
Q1-4 DIAMOND PROJECT: STATUS How the project advanced (2015 to present): 1. Polished Yellow Diamonds: Certified by GIA as fancy vivid orangey yellow diamonds • • Desirable to the luxury gem/jewelry trade 2. Nitrogen aggregation studies show the yellow and white diamonds distinct populations 3. Yellow diamonds show a much coarser size frequency Potential value upside is distribution (SFD) implying potential for higher abundance based on coarse SFD of yellow diamonds in coarser sizes alone; does not factor in that yellow diamonds 4. 2015 possible low to high model prices applied to the coarse are fancy coloured, yellow SFD scenario results in low to high price range of worth a premium price, $60 to $220 per carat and of interest to luxury jewelry trade 5. At this price the project is very attractive 13
Q1-4 - LARGE TONNAGE, EASY ACCESS Q1-4 looking southwest: 12.5 ha kimberlite • Easy surface access to A28, A61 & A88 phases • Current Q1-4 resource ~48Mt to 205m depth Modelling • suggests ~700m extending the resource to 300m depth could result in ~200m strip ratio < 3:1 • 2017 drilling extended Q1-4 below 300m 14
Q1-4 DELINEATION DRILLING Looking North B B’ 0 m • Several deep drill holes remained in kimberlite 100 m >100m beyond the current model and well below 300m from surface. 200 m Current TFFE 300 m A’ Looking West A A’ 0 m B B’ 100 m 200 m A Current TFFE 300 m 2017 drill holes on 2013 resource model 15
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