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NORTH ARROW CLOSES $2.2 MILLION FINANCING, COMMENCES EVALUATION OF THE KRAAIPAN GOLD PROJECT, BOTSWANA
NORTH ARROW CLOSES $2.2 MILLION FINANCING, COMMENCES EVALUATION OF THE KRAAIPAN GOLD PROJECT, BOT...
About this update from North Arrow Minerals Inc.
[{"type":"text","content":"\n\n\n\n NORTH ARROW CLOSES $2.2 MILLION FINANCING, COMMENCES EVALUATION OF THE KRAAIPAN GOLD PROJECT, BOTSWANA\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n Trading Symbol:  TSXV: NAR\n \n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Oct. 28, 2024\n \n\n /CNW/ -\n \n North Arrow Minerals Inc.\n \n (TSXV: NAR)\n \n (\"North Arrow\" or the \"Company\")\n \n is pleased to announce that, further to the Company's press releases dated\n \n September 3, 2024\n \n ,\n \n September 17, 2024\n \n and\n \n October 3, 2024\n \n , the Company has received final approval from the TSX Venture Exchange for both the option agreement with Rockman Resources Ltd. (\"\n \n Rockman\n \n \") under which North Arrow can earn a 60% interest in the Kraaipan Gold Project,\n \n Botswana\n \n as well as the non-brokered private placement of\n \n $2,200,000\n \n , which the Company has now closed.\n \n\n\n\n\n\n\n\n\n\n Ken Armstrong\n \n , President and Chief Executive Officer of North Arrow, stated \"With the closing of this financing, North Arrow is fully funded to advance our Year 1 plans to evaluate the underexplored, sixty-kilometre northern extension of the Kraaipan Greenstone Belt in\n \n Botswana\n \n , a top tier jurisdiction for mining and exploration investment. Exploration activities are focused on discovery of gold mineralization within prospective iron formation units extending beneath Kalahari Desert sand cover and will benefit from Rockman's in-country technical team and exploration technologies.\"\n \n\n\n Kraaipan Option Agreement Terms\n \n\n\n Under the terms of the option agreement with Rockman, North Arrow can earn a 60% interest in the Kraaipan Gold Project (the \"\n \n Project\n \n \") by incurring\n \n US$5 million\n \n in exploration expenditures over three years as follows:\n \n\n i.\n \n US$1,000,000\n \n in exploration expenditures by no later than\n \n June 30, 2025\n \n (firm commitment);\n \n ii. an additional\n \n US$2,000,000\n \n in exploration expenditures...