North Arrow corporate update for December 2019 with a focus on the Naujaat Diamond Project and the potential plans for the upcoming year.

1. TSXV:NARTSXV: NAR
Canada’s Most Active
Diamond Explorer
December 2019

2. This presentation contains projections and forward looking information that involve
various risks and uncertainties, including, without limitation, statements regarding the
potential extent of mineralization, resources, reserves, exploration results and plans and
objectives of North Arrow Minerals Inc. These risks and uncertainties include, but are
not restricted to, the amount of geological data available, the uncertain reliability of
drilling results and geophysical and geological data and the interpretation thereof and
the need for adequate financing for future exploration and development efforts. There
can be no assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such statements. These
and all subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. The Company assumes no obligation to update
forward looking statements should circumstances or management's estimates or
opinions change.
1
CAUTIONARY STATEMENT
Forward
Looking
Information
Qualified
Person under
NI 43-101
Disclosure of a scientific or technical nature related to North Arrow’s projects in this
presentation has been reviewed and approved by Ken Armstrong, P.Geo. President and
CEO of North Arrow and a Qualified Person under NI 43-101.

3. CORPORATE OVERVIEW as of November 12, 2019
 Capitalization
Listing: TSX Venture – NAR
Issued: 110.7 M
Options: 10.3 M*
Warrants: 44.4 M (25 M @ $0.225, 17.9 M @ $0.10)
Fully diluted: 165.4 M
Estimated Working Capital: ~$1.0 M
 Main Shareholders
Management/Directors/Advisors ~24.4%
Zebra Holdings and Investments ~10.3%
Electrum Strategic Opportunities Fund ~10.3%
Ross Beaty ~8.8%
Corporate
Highlights
2*Includes stock options issued November 8, 2019

4. D. Grenville Thomas (Chairman) Founder of Aber (now Dominion Diamond), discoverer
of the Diavik Diamond Mine; Canadian Mining Hall of Fame inductee.
Ken Armstrong P.Geo.(ON) (President, CEO, Director and Qualified Person under NI
43-101) Diamond exploration and evaluation experience with Diavik, Aber,
De Beers, Navigator, and Stornoway.
Christopher Jennings (Director) Founder of SouthernEra, consultant to Aber; formerly
with International Corona Corp., BP Minerals (Canada) and Falconbridge.
Blair Murdoch (Director) More than thirty years experience in senior management of
private and public companies.
Eira M. Thomas (Advisor) Extensive diamond exploration and development experience
in Canada and Africa; Founder, CEO & director of Lucara; former officer and director of
Aber; former CEO of Kaminak Gold Corporation (acquired by Goldcorp in 2016 for $520
million); currently director of Suncor.
Robin Hopkins (Advisor) 25+ years diamond exploration, evaluation and development
experience with Stornoway, Navigator, and Aber.
Allison Rippin Armstrong (Advisor) 20+ years CSR experience; Ex-Kaminak Gold.
CORPORATE OVERVIEW - PEOPLE
Management
Highlights
3

5. • Six kimberlite fields
discovered in the last six
years.
• North Arrow discovered
two of them: (1) Pikoo &
(2) Mel; the only junior
explorer to make a
discovery in that period.
• Both significantly
diamondiferous.
J:1MapsNorthAmericaCanadaDEMDEM
Kimberlite and
related rocks
Pre-1981
1981-2012
2013-2019
DIAMOND DISCOVERIES: A CANADIAN LEADER
North American
Diamond Exploration
4
1
2

6. CORPORATE OVERVIEW – PROJECTS
EXISTING DIAMOND MINE
Grassroots
7. Timiskaming (JV w SWY)
7
DIAVIK
EKATI
VICTOR
RENARD
GAHCHO
KUE
Discovery Stage
2. Mel (100%) Kimberlite Field discovery
3. Loki (100%) Kimberlite 465 discovered 2018;
1st Lac de Gras discovery in > 5 years
4. LDGJV (Dominion) Kimberlite discovery in 2019
5. Pikoo (100%) Kimberlite Field discovery
6. Luxx (100%) Permitted & drill ready
Advanced Stage
1. Naujaat (100%) Significant diamond inventory;
potential value upside: fancy orange-yellow diamonds
Assessing a known kimberlite or
diamond deposit
8
Brownfields Gold
1
8. Hope Bay (100%)
Next stage of diamond exploration
could lead to discovery
2
5
6
Target development
Within 3km of TMAC’s Doris Mine;
similar geology and structures
5

7. CORPORATE OVERVIEW – PROJECTS
EXISTING DIAMOND MINE 6
DIAVIK
EKATI
VICTOR
RENARD
GAHCHO
KUE
1
Advanced Stage Assessing a known kimberlite or
diamond deposit
1. Naujaat (100%) Significant diamond
inventory; potential value upside:
Fancy
orangey-yellow
& yellow
diamonds

8. NAR
Laydown
Q1-4 Kimberlite
NAUJAAT PROJECT
• Q1-4 Kimberlite
• Access Trail
• Access to Multiple Kimberlites
• Bulk Sample
7
• Passes within 1.5 km of Q1-4 diamond deposit
• Within 6 km of three other large
diamondiferous kimberlites
• Community led initiative
• Funding options: Federal, Territorial,
North Arrow
• >20M carats to 200m below surface*
• >12 ha; low potential strip ratio (<2:1)
• Within municipality of Naujaat
• ~8km from coast
- Access trail designed to handle 20 tonne truck
- ‘Spur road’ will give truck access to Q1-4
- Flexibility to process at site or at Laydown
Access Trail ATV Upgrade:
Access Trail New Alignment:
Spur Road:
Kimberlite:
Bridge:
Culvert:
Aggregate Deposit:
11 km
4 km
1.5 km
* CAUTION – Inferred Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability

9. Q1-4 DIAMOND DEPOSIT: STATUS
Q1-4 “run of mine” from
2014 sample; +9DTC and
above.
8
2015 – Commenced two phase approach to show value upside of Q1-4 diamonds:
1) Cutting/polishing of yellow diamonds
2) Analysis of diamond size frequency distributions (SFD)
Primary conclusions from the 2015 valuation:
• Parcel too small
• Yellow diamonds were considered of little interest.
2015 diamond valuation was based on 384 carats recovered from ~1,350 t
$92 per carat modelled “possible high” | $43 per carat modelled “possible low”

10. Q1-4 DIAMOND PROJECT: STATUS
How the project advanced (2015 to present):
1. Cut & Polished Yellow Diamonds:
• Certified by GIA as fancy vivid orangey yellow diamonds
• Desirable to the luxury gem/jewelry trade
9

11. Q1-4 DIAMOND PROJECT: STATUS
How the project advanced (2015 to present):
1. Cut & Polished Yellow Diamonds:
• Certified by GIA as fancy vivid orangey yellow diamonds
• Desirable to the luxury gem/jewelry trade
2. Nitrogen aggregation studies show the yellow and white
diamonds are distinct populations
10

12. Q1-4 DIAMOND PROJECT: STATUS
How the project advanced (2015 to present):
1. Polished Yellow Diamonds:
• Certified by GIA as fancy vivid orangey yellow diamonds
• Desirable to the luxury gem/jewelry trade
2. Nitrogen aggregation studies show the yellow and white
diamonds distinct populations
3. Yellow diamonds show a much coarser size frequency
distribution (SFD) implying potential for higher abundance
of yellow diamonds in coarser sizes
11
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

13. Q1-4 DIAMOND PROJECT: STATUS
How the project advanced (2015 to present):
1. Polished Yellow Diamonds:
• Certified by GIA as fancy vivid orangey yellow diamonds
• Desirable to the luxury gem/jewelry trade
2. Nitrogen aggregation studies show the yellow and white
diamonds distinct populations
3. Yellow diamonds show a much coarser size frequency
distribution (SFD) implying potential for higher abundance
of yellow diamonds in coarser sizes
4. 2015 possible low to high model prices applied to the coarse
yellow SFD scenario results in low to high price range of
$60 to $220 per carat
12
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

14. Q1-4 DIAMOND PROJECT: STATUS
How the project advanced (2015 to present):
1. Polished Yellow Diamonds:
• Certified by GIA as fancy vivid orangey yellow diamonds
• Desirable to the luxury gem/jewelry trade
2. Nitrogen aggregation studies show the yellow and white
diamonds distinct populations
3. Yellow diamonds show a much coarser size frequency
distribution (SFD) implying potential for higher abundance
of yellow diamonds in coarser sizes
4. 2015 possible low to high model prices applied to the coarse
yellow SFD scenario results in low to high price range of
$60 to $220 per carat
5. At this price the project is very attractive
13
Potential value upside is
based on coarse SFD
alone; does not factor in
that yellow diamonds
are fancy coloured,
worth a premium price,
and of interest to luxury
jewelry trade

15. Q1-4 - LARGE TONNAGE, EASY ACCESS
~700m
~200m
Q1-4 looking southwest: 12.5 ha kimberlite
14
• Easy surface
access to A28,
A61 & A88
phases
• Current Q1-4
resource ~48Mt
to 205m depth
• Modelling
suggests
extending the
resource to
300m depth
could result in
strip ratio < 3:1
• 2017 drilling
extended Q1-4
below 300m

16. Q1-4 DELINEATION DRILLING
• Several deep drill holes remained in kimberlite
>100m beyond the current model and well
below 300m from surface.
15
B
Looking North
Current
TFFE
0 m
100 m
300 m
200 m
B
A
A’
B’
2017 drill holes on 2013 resource model
Looking West
A A’0 m
100 m
300 m
200 m
B’
Current
TFFE

17. WAY FORWARD – TWO CURRENT OPTIONS
Two important questions regarding the Q1-4 diamonds
1. What is the size frequency distribution of the orangey
yellow diamonds in the larger sizes?
2. What is the average diamond value per carat of the
diamonds at Q1-4?
• Collect 1500-2000 tonnes of kimberlite in summer
2020, transport by helicopter to town and process
down south.
• Will answer the first question regarding the SFD of the
orangey-yellow population (blue or red trajectory).
Option 1
• Collect ~10,000 tonnes, transport by Community Access
Trail; process in Naujaat (complete in 2021).
• Will answer both questions.
Option 2
16
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

18. • Mini-excavators & free digging character;
• Helicopter supported
• Test at least 2 phases (A28 & A88)
WAY FORWARD – OPTION 1
1 Year Timeline: Sample collection
& diamond recoveries in 2020
17
~ 1,500-2,000t Sample from Q1-4
Permitted & turn-key program
Sample Collection:
• Ship sample south for processing
Sample Processing Options:
Sample Goal:
• Confirm coarse SFD of orange – yellow diamonds
Pros:
• Staged approach – confirming coarse SFD is binary
• Permit and excavators in place – short ramp up
• Modelled on 2014/15 bulk sample – cost certainty
Cons:
• Diamond value remains unanswered

19. 8
 Same as 2014 & 2017
 Small excavator
 Bags delivered by helicopter to
laydown area in Naujaat
 Transported by sealift to Montreal
 Trucked to laboratory for diamond
recovery
18
WAY FORWARD – OPTION 1

20. • Take advantage of free digging character & community
access trail - reduced cost & more local investment
• Test at least 3 phases (A28, A88, & A61)
Two Year Timeline: Sample collection
& diamond recoveries in 2021 19
~ 10,000t bulk sample from Q1-4
Sample Collection:
• Access could allow for on site processing:
i) simultaneous collection/processing
ii) staged diamond recovery
iii) faster results
• Innovative flow sheet & TOMRA optical sorting
Sample Processing Options:
Bulk Sample funding:
• Non-dilutive, project level funding options
Sample Goal:
• Confirm coarse SFD & value
upside of orange – yellow diamonds
WAY FORWARD – OPTION 2

21. OPTION 2 – PROCESSING IN THE NORTH
20

22. • Economic diversification -
i) Access to aggregate
ii) Access to carving stone
iii) Tourism (outfitters; education)
iv) Evaluation of Q1-4
• Safer access to the land for traditional land
use activities and education
• Hamlet is project proponent
• Entirely within municipal boundary
• Permitting & funding are underway
OPTION 2 – REQUIRES ACCESS TRAIL
Timeline: Start construction in 2020
Community led initiative:
Economic & Cultural opportunities:
Funding:
• Applications submitted for Territorial and
Federal government funding
21
NAR Laydown
Q1-4 Kimberlite
Access Trail ATV Upgrade:
Access Trail New Alignment:
Spur Road:
Kimberlite:
Bridge:
Culvert:
Aggregate Deposit:
11 km
4 km
1.5 km
Community Access ATV Trail Upgrade

23. Q1-4
A34
A94
A76
ROAD ACCESS: FURTHER EVALUATION OF CLUSTER
A94
• ~10 hectares
• Diamondiferous
• 2 angled drill
holes (@450)
• Both >300m &
ended in
kimberlite
All other kimberlites are under-evaluated with limited
drilling – similar age & mantle sample as Q1-4
• ~3 hectares
• Diamondiferous
• 2 angled drill
holes (@450)
• 1 hole ends in
kimberlite
A34
• ~3 hectares
• Diamondiferous
• 3 angled drill
holes
A76:
22

24. 23
A34
A94
A97
A76
A42
A152
A59
RENEWED EVALUATION OF OTHER KIMBERLITES

25. A34
A34 Cross Section - Looking West
100 m
2003-08-082003-08-07
220 m
RENEWED EVALUATION OF OTHER KIMBERLITES
2003-08-08
2003-08-07
220 m
?
satellite image airborne magnetics airborne EM 6200 Hz
Kimberlite A34
24

26. 2003-08-25
2003-08-14
385 m
satellite image airborne magnetics airborne EM 6200 Hz
2003-08-142003-08-25
100 m
385 m
?
A94 Cross Section - Looking Northwest
Kimberlite A94
RENEWED EVALUATION OF OTHER KIMBERLITES
25

27. WAY FORWARD – SUMMARY TIMELINE
26
• Fabrication – ~October order to meet June delivery
• Delivery/Commissioning – Earliest Summer 2021
• Currently permitted for 1,500t – Summer 2020
• Processing & Results fall 2020/spring 2021
• 10,000t sample – requires access road
• Permitting required (drafting stage)
• Earliest collection - 2021
Processing Plant: Design Engineering Study
Access Trail: Permitting & Funding – In Progress
• Construction start – Summer 2020 (funding needed)
• Construction completion – Late 2020 / early 2021
Exploration Potential: Detail Review & Evaluation –
In Progress
Bulk Sample: Staged Approach
There is no other
diamond project in the
world at this stage of
assessment without
the involvement of a
diamond producer.
SFD & Diamond value
are the last variables.
All the other boxes are
ticked.

28. $-
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
Margaret
Lake
Arctic Star GGL Metalex Tsodilo Olivut Lithoquest North
Arrow
Pangolin Star
Diamond
$1.1 $1.3 $2.3 $2.8
$3.2 $3.2 $3.6 $5.5
$9.6
$132.9
MARKET CAP (IN MILLIONS)
OF CANADIAN JUNIOR DIAMOND EXPLORERS
Millionsofdollars
MARKET CAP COMPARISONS (as of November 29, 2019)
27

29. $-
$50.0
$100.0
$150.0
$200.0
$250.0
$300.0
$350.0
North Arrow Lucapa Gem Petra Mountain
Province
Lucara
$5.5
$55
$126
$130
$244
$349
MARKET CAP IN MILLIONS – NORTH ARROW
VS. DIAMOND PRODUCERS
Millionsofdollars

30. • One of Canada’s largest under-evaluated diamond inventories at Naujaat’s Q1-4
kimberlite – clear evaluation path & soon to have road access!
• Two new diamondiferous kimberlite fields – Mel & Pikoo
• 465 – first Lac de Gras kimberlite discovery in over 5 years
• 6 drill-ready (and fully permitted) diamond properties; including 5 that
host known diamondiferous kimberlite – Naujaat, Mel, Pikoo, Loki & LDG
DIAMOND DISCOVERIES: A CANADIAN LEADER
29
NAR: Canadian diamond sector’s most active & successful explorer over the last 6 years

31. TSXV: NAR
Ken Armstrong
President & CEO
Nick Thomas
Community and Investor
Relations Manager
Suite 960-789 West Pender Street
Vancouver, BC
Canada V6C 1H2
Tel: +1.604.668.8354
Fax: +1.604.336.4813
info@northarrowminerals.com
www.northarrowminerals.com
@narminerals
northarrowminerals