North Arrow Reports Mcavoy Pegmatite Represents a Potential Source for Technical Grade Spodumene

November 8, 2010

North Arrow Minerals Inc. (NAR: TSXV) is pleased to announce that a detailed mineralogical investigation of a composite sample from its wholly owned McAvoy lithium pegmatite has confirmed the high quality of spodumene mineralization at this locality. The McAvoy pegmatite is located within North Arrow's Torp Lake project area in Nunavut, approximately 30 km southwest of tidewater on the Arctic coast and 245 km east-southeast of the Hamlet of Kugluktuk.

Previous channel sampling of the McAvoy pegmatite returned high grade assays of 6.0 m grading 4.5% Li2O and 7.0 m grading 3.3% Li2O from channel locations situated 78 m apart (North Arrow news release #09-22 dated September 17, 2009). A detailed review of these assay data indicated potential for the McAvoy pegmatite to represent a possible source of premium, low iron, technical grade spodumene. A composite from both channel sample locations was therefore submitted earlier this year to SGS Lakefield Research Limited for mineralogical evaluation.

Results of this evaluation have been received and confirm that the pegmatite is mineralogically very simple and composed primarily of spodumene (52-55%), quartz (42-43%) and Na-Feldspar (2-4%). Spodumene was estimated to carry over 99% of the lithium in the sample and liberation of spodumene was excellent at approximately 99%. Thirty-three microprobe analyses of individual spodumene grains found it to be clean of major element impurities, particularly iron and manganese. The average iron content, reported as FeO, was 0.02 weight percent (wt%) (detection limit: 0.017 wt%) and the average for manganese, reported as MnO was 0.01 wt% which is less than the detection limit of 0.014 wt%.

Spodumene demand can be divided into two distinct markets based on end use. Chemical grade spodumene is typically used for conversion to down-stream lithium products such as lithium carbonate or lithium hydroxide, two important feedstocks for the production of lithium batteries. Technical grade spodumene is used directly in the glass, ceramic and metallurgical industries. Economic deposits of technical grade spodumene are rare and therefore command a premium price in comparison to chemical grade products. Currently, the Greenbushes mine in southwestern Australia, operated by Talison Lithium Limited (TLH: TSX), is the world's only source for technical grade spodumene and Talison has indicated that by 2011 it anticipates being unable to meet global demand for this product (Source: Talison 43-101 technical report dated July 26, 2010). Results from North Arrow's current study have confirmed that the McAvoy pegmatite has potential to represent a new source of technical grade spodumene and that further evaluation of the pegmatite is required. Permitting is nearly complete for the Torp Lake project and exploration plans for the 2011 field season include ground geophysics and diamond drilling.

North Arrow's exploration programs are conducted under the supervision of Gordon Clarke, P.Geol. (NT&NU), Vice President, Exploration for North Arrow and a qualified person under NI 43-101.

North Arrow Minerals Inc.

/s/ "D. Grenville Thomas"
D. Grenville Thomas
President and CEO

For further information, please contact:

D. Grenville Thomas
President and CEO
Tel: 604-668-8355

Gordon Clarke
Vice President, Exploration
Tel: 867-873-8483

Email: [email protected]

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.



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