North Arrow Minerals Inc. - Canoe Lake/Bamako

Phoenix Torp Lake Beaverdam

Canoe Lake/Bamako

Hope Bay Hay Duck Anialik Lac de Gras Hammer

Location:

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Canoe Lake Bamako Location Map
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The Canoe Lake/Bamako project is located approximately 25 km south of the High Lake base metal deposit and approximately 190 km south southeast of Kugluktuk.

Size:
The Canoe Lake/Bamako project consists of eight mineral claims, two mining leases and one Inuit Owned land parcel (IOL CO-27) with a combined total of 21,831 acres.

Ownership:
100% North Arrow.

Highlights:

Known base metal mineralization with associated electromagnetic anomalies. Historical drilling included an intersection of a 1.6 m section of banded sulphides assaying 89 g/t Ag, 5% Zn, 0.5% Pb and 0.8% Cu.
Known gold mineralization (Bamako gold showings), historical drilling intersected 15.30 g/t Au over 2.60 m.
Property is under option to Minerals and Metals Group (MMG).
Drilling in 2009 of time domain ground geophysical targets intersected stringer sulphide mineralization and alteration indicative of volcanogenic massive sulphide deposition processes.
Additional targets warrant drill testing.

Summary:
The Canoe Lake/Bamako project is located within the High Lake greenstone belt and contains base metal and gold showings. Limited drilling in the 1970's at Canoe Lake included a 1.6 m section of banded sulphides assaying 89 g/t Ag, 5% Zn, 0.5% Pb and 0.8% Cu, stringer sulphides over 0.5 m of core grading 211 g/t Ag, 0.5% Zn and 1.8% Cu. As well a 2.9 m intersection of stringer and banded sulphides yielded 24 g/t Ag, 1.7% Zn, 0.2% Pb and 0.2% Cu. Geological mapping has outlined exposure of alteration and related stringer sulphide mineralization over an area of 500 m by 200 m. Electromagnetic surveys have coincident responses with the mapped mineralization.

In the fall of 2009 drilling was carried out in the Canoe Lake area by MMG on one of a series of conductors interpreted from a 2008 time domain electromagnetic ground geophysical survey. Drilling intersected stringer sulphide mineralization and alteration indicative of hydrothermal fluid movement representing volcanogenic massive sulphide deposition systems. A number of other geophysical targets including a response coincident with the original Canoe Lake showing remain to be tested.

The Bamako gold occurrences are located approximately 1.7 km to the west of the Canoe Lake showing. Three sub-parallel, near vertical dipping gold bearing mineralized horizons within a 300 m stratigraphic interval have been identified. Mineralization is characterized by zones of sulphide enrichment and silicification within sheared mafic metavolcanic rocks. Surface samples have returned assays up to 54.4 g/t Au. In 1995 BHP - Utah Mines Ltd. carried out a six hole diamond drilling program. Highlights included 15.30 g/t Au over 2.60 m at 46.55 m down hole and 5.4g/t Au over 1.21 m at 39.79 m down hole. This program only tested portions of two of the known zones to shallow depths. MMG plans to evaluate the Bamako gold occurrences in the summer of 2010 and further drilling is warranted.