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Trading Symbol: TSXV: NAR
VANCOUVER, BC, Jan. 13, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") announces that, pursuant to the terms of the Company's Stock Option Plan approved by shareholders at the Annual General Meeting held on December 19, 2024, it has granted 1,115,000 incentive stock options to directors, employees and consultants of the Company. The stock options are exercisable to acquire one common share of North Arrow at $0.20 per share and can be exercised until January 10, 2030. Following this grant of stock options there are 2,170,000 stock options outstanding, representing 7.6% of the Company's issued and outstanding common shares.
About North Arrow Minerals
North Arrow is a Vancouver, BC-based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana. North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) 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.
About the Kraaipan Gold Project, Botswana
The Kraaipan Gold Project is comprised of 1,266 km2 of mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana. The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's Kalgold gold mine in South Africa, approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by Kalahari Desert sand cover, impacting approximately 80% of the KGB within Botswana. The sand cover, while extensive, is typically less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in Botswana has identified local gold mineralization in shallow drilling of exposed banded iron formation (BIF) targets. A focus of new exploration will be to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow will have access to Rockman Resources Limited's highly experienced Botswana-based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including drone geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project.