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VANCOUVER, BC, Feb. 28, 2024 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow") is pleased to announce that Eira Thomas has been appointed as Chair of the Board of Directors, effective February 28, 2024. Ms. Thomas succeeds D. Grenville (Gren) Thomas, who will remain as a director after 17 years as the Company's Chair.
Ken Armstrong, President and Chief Executive Officer of North Arrow, stated, "We are very pleased to welcome Eira Thomas to North Arrow as Chair of the Board of Directors. Eira has a long and successful track record in the resource sector, in particular with identifying and building out opportunities in the junior mining space." Mr. Armstrong continued: "I'd like to extend my thanks and appreciation to Gren for his past guidance as Chair and look forward to his continued involvement as a director of the company."
Ms. Thomas, Chair of North Arrow's Board, stated: "As a long-time advisor and supporter of North Arrow, I am delighted to join the Company as Chair and help guide management through their ongoing strategy of evaluating lithium occurrences identified on three properties in 2023, extracting value from the Company's portfolio of legacy diamond properties, and identifying new, compelling exploration and development opportunities in Canada."
Ms. Thomas brings more than 30 years of experience in the mining industry, particularly in the diamond, gold and energy spaces. She has held executive and board positions with a number of companies over that period, including Aber Diamond Corp., Stornoway Diamond Corp., Kaminak Gold Corp., and Lucara Diamond Corp., as well as 17 years as a director of Suncor Energy.
Pursuant to North Arrow's stock option plan, North Arrow has granted 500,000 incentive stock options to a director. Each incentive stock option is exercisable into one common share of the Company, has an exercise price of 8 cents per share, and can be exercised until February 28, 2029.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium and other 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), is exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field and continues work to identify additional lithium exploration opportunities in northern Canada. North Arrow also owns interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Diamond Projects and maintains a 100% interest in the Hope Bay Oro Gold Project, located approximately 3 km north of Agnico Eagle's Doris Gold Mine, Nunavut. 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.