Overview of North Arrow's most active diamond projects with a focus on our most advanced project, the Naujaat Diamond Project, located near tide water 9 km from the Hamlet of Naujaat , Nunavut.

1. TSXV:NARTSXV: NAR
Canada’s Most Active
Diamond Explorer
PDAC 2020

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; Co-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. 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 2017
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 2013
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
4

6. NAUJAAT PROJECT – TICKS ALL THE BOXES
 Jurisdiction
 Near tide water
 Large tonnage
 Low strip ratio
 Significant diamond inventory*
 Blue sky potential
* CAUTION – Inferred Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability
Unique diamond value
proposition
5
<3:1 vs >10:1 for NWT diamond mines
~48 Mt down to 205m below surface
~26M contained carats
15 additional kimberlites for evaluation
Freight costs 50% of NWT diamond mines
Clear permitting path in Nunavut
Q1-4 Kimberlite
NAR
Laydown
Area

7. Q1-4 DIAMOND DEPOSIT: STATUS
Q1-4 “run of mine” from
2014 sample; +9DTC and
above.
6
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 WWW Conclusions from the 2015 Valuation:
• Parcel too small
• Yellow diamonds were considered of little interest.
2015 WWW Diamond Valuation based on 384 carats recovered from ~1,350 t
$92 per carat modelled “possible high” | $43 per carat modelled “possible low”

8. 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
7

9. 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 distinct populations
8

10. 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
9
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

11. 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
10
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

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
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
11
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
Q1-4 Grade/Size Curve
Comparative Curves
Total Parcel
‘Dark Yellow’
only

13. Q1-4 - LARGE TONNAGE, EASY ACCESS
~700m
~200m
Q1-4 looking southwest: 12.5 ha kimberlite
12
• 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

14. Q1-4 DELINEATION DRILLING
• Several deep drill holes remained in kimberlite
>100m beyond the current model and well
below 300m from surface.
13
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

15. • Mini-excavators & free digging character
• Helicopter supported
• Test at least 2 phases (A28 & A88)
WAY FORWARD – OPTION 1: SFD QUESTION FIRST
1 Year Timeline: Sample collection
& diamond recoveries in 2020
14
~ 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 orangey-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

16. 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
OPTION 1: 1,500-2,000 TONNE SAMPLE IN 2020
15

17. • Take advantage of free digging character & community
access trail completed in 2020 & 2021 - reduced cost &
more local investment
• Test at least 3 phases (A28, A88, & A61)
OPTION 2 – SFD AND VALUE QUESTIONS
Two Year Timeline: Sample collection
& diamond recoveries in 2021 16
~ 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

18. OPTION 2 – PROCESSING IN THE NORTH
17

19. • 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
18
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

20. Q1-4
A34
A94
A76
ROAD ACCESS: BLUE SKY EXPLORATION
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:
19

21. 20
A34
A94
A97
A76
A42
A152
A59
RENEWED EVALUATION OF OTHER KIMBERLITES

22. 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
21

23. 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
22

24. WAY FORWARD – SUMMARY TIMELINE
23
• 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.

25. CORPORATE OVERVIEW – PROJECTS
EXISTING DIAMOND MINE 24
DIAVIK
EKATI
VICTOR
RENARD
GAHCHO
KUE
Discovery Stage
Mel Project (100%)
2
2

26. MEL KIMBERLITES – EXCELLENT MANTLE SAMPLE
25
olivine
pyrope
garnet
ilmenite

27. MEL PROJECT - MICRODIAMOND RESULTS
26*Stones per tonne per Unit Interval
Body
Sample
Weight
Dry Kg
Number of Diamonds per Sieve Size (mm Square Mesh Sieve)
+0.106
-0.150
+0.150
-0.212
+0.212
-0.300
+0.300
-0.425
+0.425
-0.600
+0.600
-0.850
+0.850
-1.18
Total
Stones
ML8 (Lower) 24.15 0 3 0 2 1 1 1 8
ML8 (Upper) 270.5 20 16 17 10 1 2 3 69
1 cm

28. NEW KIMBERLITE TARGETS - NORTH TRAIN
ML8 Upper and
Lower Kimberlites
ML345 Kimberlites
27
2018 sampling
extended the
train further to
the north;
sample 600m
north of the
ML8 kimberlite
had 34 KIMs

29. MEL PROJECT – WAY FORWARD
OCEAN
ML-345
ML-8 Upper
ML-8 Lower
28
WAY FORWARD
Camp is in Place
Geophysics
Till Sampling
Prospecting
Drilling

30. CORPORATE OVERVIEW – PROJECTS
EXISTING DIAMOND MINE
DIAVIK
EKATI
VICTOR
RENARD
GAHCHO
KUE
Discovery Stage
5. Pikoo (100%) Kimberlite Field
discovered by North Arrow
Next stage of diamond exploration
could lead to discovery
5
29
Excellent diamond potential

31. PIKOO PROJECT, SK
 North Arrow (100%).
 Good local infrastructure; within 10
km of SK Hwy 911– more than 200
km from nearest kimberlite field
(FALC).
 10 discrete kimberlites discovered
to date. Five tested and proven
diamondiferous.
 PK150 – most significant diamond
discovery; 1,232 diamonds > 0.106
mm from 531 kg.
 2016 drill program discovered
PK346 and PK347 kimberlites.
 Till sample results suggest more
unique unsourced KIM trains.
30
23 +0.85 mm stones recovered
from initial 2013 209 kg PK 150 sample

32. PIKOO PROJECT, SK
31
• Increased sample density
throughout property has
revealed independent
source areas for at least 15
KIM trains; ~10 remain
unsourced.
• North Pikoo - high interest
chrome garnets in till not
found in known
kimberlites.
• More diamondiferous
kimberlites are on the
property.
Ice Direction
PK314
&“North Pikoo
Dykes”
PK312
PK311
PK346
PK347
PK150
(plus PK151
and another
dyke)
Deeper colour = more KIMs
Known kimberlites
?Priority Targets
?
?
? ?
?
?
?
?
?
?
?
PK393
Target
Bear Lake
Target

33. PK 150 – MICRODIAMOND RESULTS
Compares well with two kimberlites
currently slated for development
32

34. PIKOO PYROPE GARNET CHEMISTRY
33

35. EXISTING DIAMOND MINE 34
DIAVIK
EKATI
VICTOR
RENARD
GAHCHO
KUE
Discovery Stage
Loki Project
(100%)
3
LDG Project
(JV w Dominion; ~21% NAR)
4
LAC DE GRAS DIAMOND PROJECTS
GeoDan says “A relic of a previous kimberlite encased in a later pulse. This sample has a
groundmass (gm) strongly altered to serpentine. Surrounding rock has a gm of carbonate &
monticellite. From the Anchor kimberlite (LDG) discovered in 2019, NWT. FOV 7mm, PPL & XPL”

36. • Large project area (147,200 ha) south
of Diavik & Ekati; 4 known kimberlites.
• Dominion Diamond Mines (Operator) is
focused on discovery to extend Ekati
mine life.
• $3.5 M 2020 exploration program is
underway and will include spring and
summer drilling.
LAC DE GRAS DIAMOND PROJECTS
35
• 8,607 ha; 100% NAR
• Kimberlite 465 discovered in 2018
• Diamondiferous EG05 kimberlite
• Additional targets associated with
unsourced KIMs
• Way Forward: till sampling,
geophysics & drilling
Lac de Gras (LDG) Joint Venture
Loki Property

37. • One of Canada’s largest under-evaluated diamond inventories at Naujaat’s Q1-4
kimberlite (~26 million carats)
• Two new diamondiferous kimberlite fields – Mel & Pikoo
• 465 – first Lac de Gras kimberlite discovery in over 5 years
• Anchor – first kimberlite discovery by the LDG joint venture
• 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
36
NAR: Canadian diamond sector’s most active & successful explorer over the last 7 years

38. Future Rough Diamond Supply Spotlight
• 152 million carats produced in 2017.
• Zimnisky predicts world rough production to be 125 million carats by
2025 (includes 5 M carats from Luaxe); an 18% decline.
DIAMOND PIPELINE – SUPPLY
• Closure of Victor,
Voorspoed & Argyle plus
declining production
from other mines
(Jubilee, Diavik, Ekati).
• 2026 forecast total
production
still below 130 million
carats (includes Luaxe
at full 8 M ct/yr); no
other >1 million ct/yr
producers on horizon.
37

39. Future Rough Diamond Demand Spotlight
DIAMOND PIPELINE – DEMAND
• U.S. retail market – almost 50% of global diamond jewelry sales; the
foundation of global end-consumer diamond jewelry demand.
• Middle-class growth in Mainland China and India still the strongest
driver of global diamond demand growth.
• De Beers’ Forevermark has stated that India may overtake China in
2020 as second largest market after the U.S.; market has grown by
approximately 50% annually over the last three years.
Long-term scenarios for natural rough diamond demand,
Bain & Company: Global Diamond Report, 2019
38

40. 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