North Arrow Announces Closing of $5 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


North Arrow Minerals Inc. (TSX VENTURE:NAR) ("North Arrow" or the "Company") is
pleased to announce that it has closed the bought deal private placement
announced on February 3rd, 2014 and the over-allotment option has been extended
until the tenth day following the closing date. The Company has issued 7,700,000
common shares at a price of $0.65 per share for aggregate gross proceeds of
$5,005,000 (the "Offering"). The net proceeds from the Offering will be used to
fund North Arrow's exploration and evaluation programs on its Canadian diamond
properties, including the Qilalugaq (Nunavut), Redemption (Northwest
Territories) and Pikoo (Saskatchewan) projects and for general corporate
purposes. 


The Offering was led by Dundee Securities Ltd. on behalf of a syndicate
including Mackie Research Capital Corporation (collectively, the
"Underwriters"). In connection with the Offering, the Underwriters received a
cash commission on the sale of the shares equal to 5% of the gross proceeds
raised, excluding the gross proceeds from President's List purchasers. The
shares issued under the Offering are subject to a hold period, which will expire
four months and one day from the date of the closing, being June 26, 2014. 


North Arrow and the Underwriters have mutually agreed to extend the
over-allotment option, also announced on February 3, 2014, to purchase up to an
additional 2,300,000 common shares at a price per share of $0.65, for additional
gross proceeds of up to $1,495,000 until the tenth day from today's date. The
over-allotment option may now be exercisable in whole or in part at any time up
to March 7, 2014. 


This press release does not constitute an offer to sell or a solicitation of an
offer to buy securities, nor shall there be any sale of securities, in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or to or
for the account or benefit of a U.S. person (as defined in Regulation S under
the U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.


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, Redemption and Pikoo projects, North Arrow is also evaluating each of
the Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) diamond
projects.


North Arrow Minerals Inc.  

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, and the use of the
net proceeds of the Offering. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
North Arrow Minerals Inc.
Ken Armstrong
President and CEO
604 668 8355 or 604 668 8354
www.northarrowminerals.com
North Arrow Minerals (TSXV:NAR)
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