North Arrow Announces Discovery of Hammer Kimberlite

VANCOUVER, BRITISH COLUMBIA, Jul 30 (MARKET WIRE) --
North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce the
discovery of a new kimberlite on the Hammer property in the Coronation
Gulf/North Slave Diamond District of Nunavut. The Hammer Property is
located approximately 500 km north of Yellowknife, Northwest Territories,
and is a joint venture between North Arrow (25% participating) and
Stornoway Diamond Corporation (TSX: SWY) (75% and operator). The Hammer
kimberlite was discovered by a Stornoway geologist prospecting on a
mineral claim acquired in October 2008. The claim was staked to cover the
head of a previously unexplained kimberlitic indicator mineral anomaly
with diamond inclusion chemistry.

The Hammer kimberlite appears associated with a prominent topographic
feature that is 225m long, between 15 and 100m wide, and has a surface
expression of approximately 1 hectare, although the true nature and size
of the body is not known at this time. Weathered kimberlite breccia in
bedrock was identified within hand dug pits, in addition to numerous
scattered kimberlite occurrences of surface float and frost heaved
kimberlite fragments. Previous analyses of till samples collected
down-ice of the Hammer kimberlite have returned the full suite of
traditional kimberlite indictor minerals, including both pyrope and
eclogite garnets, and the mineral chemistry of these indicators is
indicative of a potentially diamond bearing kimberlitic intrusive.

Representative samples of surface float and in-situ kimberlite were
collected at site and are currently in transit south. Permafrost
conditions and equipment constraints prevented the collection of a large
sample of fresh kimberlite for representative microdiamond analysis at
this time. North Arrow and Stornoway are currently reviewing future work
required to properly assess the Hammer discovery.

This discovery was made possible in part by the Government of Canada's
GEM (GeoMapping for Energy and Minerals) program, specifically the
Diamonds Project as delivered federally by the Geological Survey of
Canada. 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.
Stornoway's diamond exploration programs are conducted under the
direction of Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration,
a Qualified Person under NI 43-101.

North Arrow Minerals Inc.

D. Grenville Thomas, President and CEO

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

Contacts:
North Arrow Minerals Inc.
D. Grenville Thomas
President and CEO
604-668-8355
604-668-8366 (FAX)
info@northarrowminerals.com

North Arrow Minerals Inc.
Gordon Clarke
Vice President, Exploration
867-873-8483
www.northarrowminerals.com

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