North Arrow Increases Non-Brokered Private Placement

Aug. 4, 2010 (Filing Services Canada) -- North Arrow Minerals Inc.  (NAR - TSX Venture), is pleased to announce an increase to the non-brokered private placement previously announced on July 16, 2010. The private placement will now consist of 3,958,333 flow-through units (the "FT Units") at a price of $0.18 per FT Unit, for gross proceeds of up to $712,500. Each FT Unit will consist of one flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of one year from the closing date at a price of $0.25 per share. The private placement is subject to acceptance by the TSX Venture Exchange.

A finder's fee may be payable in cash, common shares and/or warrants to acquire common shares to accredited arm's length parties in respect of sales made to purchasers referred to North Arrow by finders. The private placement and the finder's fee, including any common shares or finder's warrants issued as part of the finder's fee, are subject to certain conditions, including regulatory acceptance. All securities issued as part of this private placement are subject to a four month hold period. Insiders of North Arrow will participate in this financing, and will do so on the same terms as the arm's length subscribers.

The proceeds from the financing will be used primarily to advance the Lac de Gras diamond project.


North Arrow Minerals Inc.

/s/ "D. Grenville Thomas"

D. Grenville Thomas
President and CEO


For further information, please contact:

D. Grenville Thomas                          Gordon Clarke
President and CEO                            Vice President, Exploration
Tel: 604-668-8355                            Tel: 867-873-8483
Email: [email protected]
Website: www.northarrowminerals.com
      

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


Suite 860 - 625 Howe Street
Vancouver, BC, Canada V6C 2T6
Tel: 604 668 8355
Fax: 604 668 8366



Source: North Arrow Minerals Inc.  (NAR - TSXV) [email protected]
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