TSXV:NARTSXV: NAR

Exploring Diamond Opportunities in Canada

North Arrow Minerals Corporate Updatewith a focus on the Qilalugaq Diamond Project

This presentation contains projections and forward looking information that involvevarious risks and uncertainties, including, without limitation, statements regarding thepotential extent of mineralization, resources, reserves, exploration results and plans andobjectives of North Arrow Minerals Inc. These risks and uncertainties include, but arenot restricted to, the amount of geological data available, the uncertain reliability ofdrilling results and geophysical and geological data and the interpretation thereof andthe need for adequate financing for future exploration and development efforts. Therecan be no assurance that such statements will prove to be accurate. Actual results andfuture events could differ materially from those anticipated in such statements. Theseand all subsequent written and oral forward-looking statements are based on theestimates and opinions of management on the dates they are made and are expresslyqualified in their entirety by this notice. The Company assumes no obligation to updateforward looking statements should circumstances or management's estimates oropinions change.

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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 thispresentation has been reviewed and approved by Ken Armstrong, P.Geo. President andCEO of North Arrow and a Qualified Person under NI 43-101.

THE OPPORTUNITY

EXPERIENCED TEAM – Successful exploration and development (Aber; Diavik; Lucara; Stornoway; SouthernEra)

LEVERAGED EVALUATION - Canadian diamond projects developed over years of exploration by past companies at costs in excess of $40 million dollars

SOLID FINANCIAL BACKING - >$18M raised over last three years while maintaining an attractive share structure - ~54.2M shares o/s; ~59.5M shares f/d

NEW DISCOVERIES – Discovered Canada’s newest diamond district at Pikoo Project, SK; “Pre-discovery” projects at Mel, Luxx, Loki and LDG

PROJECT PORTFOLIO – Seven core project areas

PURE DIAMOND PLAY – Solely focused on diamond projects located in Canada at a time where diamond fundamentals are robust and predicted to remain so for the foreseeable future

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CORPORATE OVERVIEW– as of October 1, 2016

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Capitalization

Listing: TSX Venture - NAR

Issued: 54.2 M

Options: 4.3 M

Warrants: 1.0 M $0.25 & $0.65

Fully diluted: 59.5 M

Estimated Working Capital: ~$1.1 M (as of Oct 1, 2016)

Main Shareholders

Management/Directors ~16.5 %

Zebra Holdings & Investments ~18.3%

controlled by a trust settled by the late Adolf H. Lundin

Corporate Highlights

unless otherwise noted

D. Grenville Thomas (Chairman) Founder of Aber Resources (now Dominion Diamond Corporation), discoverer of the Diavik Diamond Mine and 2009 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 Diamond Mines Inc., Aber Resources, De Beers, Navigator Exploration, and Stornoway Diamond Corporation.

Christopher Jennings (Director) Founder of SouthernEra Diamonds Inc., consultant to Aber Resources; former positions with International Corona Corp., BP Minerals (Canada) and Falconbridge Ltd.

William Lamb (Director) President and CEO of Lucara Diamond Corp., 20+ years project development experience with Lucara, De Beers, Kvaerner and Rand Mines.

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. Former officer and director of Aber; founder of Lucara Diamond Corp and Stornoway Diamond Corporation. Currently director of Suncor and Lucara.

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CORPORATE OVERVIEW - PEOPLE

Management Highlights

CORPORATE OVERVIEW – PROJECTS

Lac de Gras (NT)• Near Diavik & Ekati mines• 45/55 JV with Dominion• $1.28 M budget for 2016

Pikoo (SK)• Diamondiferous kimberlite field• JV with Stornoway (~85% NAR)• 2016 till sampling

Timiskaming (ON)• Unsourced KIM trains• JV with Stornoway

Loki (NT)• Near Diavik & Ekati mines• 100% NAR• 2016 till sampling

Mel (NU)• KIM targets • 100% NAR• 2016 till sampling

Luxx (NU)• Drill ready targets

w/ KIM support• 100% NAR

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Qilalugaq (NU)• Big kimberlite on tide water• High value fancy “Canary” diamonds• 2017 delineation drilling• JV with Stornoway (80% NAR)

DIAVIK

EKATI

EXISTING DIAMOND MINE

VICTOR

Hope Bay Gold (NU)• 100% NAR• ~10,000 ha on strike

from TMAC’s Doris Mine

GAHCHOKUE

RENARD

QILALUGAQ PROJECT, NU

Jurisdiction- Settled land claim.

Near tide water – improved logistics; sealift available – estimate freight costs 50%of NWT mines; proximity to workforce.

Large tonnage – 48.8 million tonnesinferred resource (May 13, 2013)*; all in one deposit – means low strip ratio.

Good inferred resource grade – 53 cpht(Total Recovery; +1 DTC (~+1mm)).

Blue sky – Inferred resource only to 205m – open to depth; 15 additional kimberlite bodies.

? Diamond valuation – Uncertain. May 2015valuation challenged by small parcel size andlack of high value stones.

Possible Upside – rare, fancy “Canary” colour diamonds. 7

View looking south-southwest from Q1-4 kimberlite towards Naujaat

* CAUTION – Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability

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Naujaat

Q1-4 kimberlite

QILALUGAQ PROJECT - BACKGROUND

2000-2005: BHP Billiton discovered 8 kimberlites - Extensive till sampling, geophysics, and drilling; 68 DDH, 18 LDRC, diamond testing ~229t from Q1-4 (largest kimberlite discovered).

2006-2012: Stornoway acquired 100% interest; more till sampling, geophysics & prospecting; discovered 8 kimberlite dykes; tested ~24.5t from Q1-4.

2013: North Arrow partners with Stornoway.

2014: North Arrow collected ~1500 tonnesample of the Q1-4 kimberlite to recover parcel of diamonds for valuation.

2015: North Arrow announces valuation results of 383 carat parcel of diamonds.

May 2013 resource estimate1

– Inferred Resource = 48.8 Mt, 26.1 Mcts, total diamond content2 53.6 cpht.– TFFE3 = 14.1 to 16.6 Mt, 7.9 to 9.3 Mcts, total diamond content2 56.1 cpht.

1Mineral resources are not mineral reserves and do not have demonstrated economic viability 2Defined as 100% recovery of +1 to +23 DTC diamonds3Target for further exploration - The potential quantity and grade of the TFFE referred to above is conceptual in natureand it is uncertain whether further exploration will result in the target being delineated as a mineral resource

12.5 ha surface area kimberlite9

QILALUGAQ PROJECT - RESOURCE

Q1-4 Inferred Resource Estimate

2014Bulk

Sample Location

Q1-4 DIAMOND REVIEW

• ~384 carats from ~1,350 dry tonnes.

• Yellow diamonds having a range of hues and tones were significant.

• Yellow diamonds make up ~9.0% (stone count) and ~21.5% (carat weight) of parcel.

• The 3 largest diamonds recovered were yellow: 4.42, 4.16, and 3.53 carats.

Q1-4 2014/15 Sample

“possible low” model price of $43 per carat “possible high” model price of $92 per carat

Primary Conclusion from the 2015 Valuation:

“Valuation results and modelled values should be treated with considerable caution when it comes to assessing the Qilalugaq Project.”1

The parcel was small & complicated by presence of two distinct diamond populations.

1North Arrow news Release June 9, 2015 reporting results of WWW International Consultants Ltd. valuation.

Q1-4 “run of mine” from 2014 sample; +9DTC and above.

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Q1-4 DIAMOND REVIEW – MAIN QUESTIONS

Do the yellow diamonds represent a distinct population from the white

diamonds?If so, does it matter?

Can yellow rough be polished into desirable diamonds in

the gem trade?

+11 DTC Q1-4 diamonds from 2014 sample. +9 DTC Q1-4 diamonds from 2014 sample.

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• 13 diamonds polished with an average yield of 30%.

• 7 polished from single diamond crystals.

• 6 derived from a single 4.4 ct diamond.

• round brilliant cuts maximize brilliance; no impact on colour.

• colour graded at Canadian Gem Labs (CGL) and Gemological Institute of America (GIA).

• Very small diamonds (to 0.02 cts) retain fancy orangey yellow colour – unusual for small coloured diamonds.

• Largest diamond recovered from Q1-4 is a fancy coloured diamond.

Q1-4 DIAMOND POLISHING AND COLOUR GRADING

0.12 ct fancy vivid orangey yellow

(GIA)

0.05 ct fancy intense orangey yellow

(CGL)

0.04 ct fancy deep orangey yellow

(CGL)

0.04 fancy deep orange yellow

(CGL)

0.08 ct fancy intense yellow

(GIA)

0.05 fancy intense orangey yellow

(CGL)

0.14 ct fancy vivid orangey yellow

(GIA)

Summary

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Q1-4 ROUGH TO POLISHED DIAMONDS

GIA Certified 0.12 ct

fancy vivid1

orangey yellow

brilliant –26% yield

+11 DTC rough “dark

yellow” inverted

cube

GIA Certified 0.14 ct

fancy vivid1

orangey yellow,

brilliant –30% yield

+11 DTC rough “dark

yellow” inverted

cube

1“Fancy Vivid” = greatest level of colour saturation = highest value 13

GIA & CGL Certified

0.08 carat fancy intense

yellow brilliant –36% yield

+9 DTC rough

“yellow” cubic

diamond

CGL Certified 0.04 carat fancy deep

orange yellow1

brilliant –34% yield

+9 DTC rough “dark

yellow” inverted

cube

Q1-4 ROUGH TO POLISHED DIAMONDS

1“Orange yellow” = equal orange & yellow = potential for very rare orange diamonds 14

POLISHING RESULTS - IMPACT ON VALUE

A Premium Price for Q1-4 fancy colour diamonds is clearly warranted in smaller size classes.

The June 2015 possible high diamond price model is reasonable

Q1-4 ‘canary’ diamonds can be polished, are fully saturated ‘fancy colours’ and would be desirable in the gem trade

Conclusions from yellow

diamond polishing exercise

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TWO SEPARATE DIAMOND POPULATIONS

• Proportion of yellows increases with increasing diamond size.

• The yellow diamonds empirically have a coarser population.

• Infrared spectral analyses (FTIR) confirm yellow and non-yellow diamond populations are distinct.

“Yellow diamonds, representing a range of hues and tones, comprise approximately 9.0% by stone count and 21.5% by carat weight of the +1 DTC diamonds recovered to date”.

Q1-4 Sample Press Release, May 5, 2015

Observations

Q1-4 Grade/Size CurveComparative Curves

Total Parcel

‘Dark Yellow’only

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TWO SEPARATE DIAMOND POPULATIONS

• Frequency of yellow diamonds at coarser sizes exceeds the current total parcel model.

• Proportion of yellow/non-yellow diamonds remains the same at coarser sizes.

Yellow population can be modelled to define 2 distinct scenariosQ1-4 Grade/Size Curve

Comparative Curves

Total Parcel

‘Dark Yellow’only

Scenario 1 – extrapolate to coarser diamond sizes.

Scenario 2 – extrapolate to diminishing frequency of larger stones.

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TWO SEPARATE DIAMOND POPULATIONS

• True value of the Q1-4 diamonds is still uncertain but $200/ctwould be positive for the project.

• Cannot confirm or discount either scenario without conducting more sampling.

June 2015 Price Models Applied to Possible SFD Scenarios:

Primary Conclusion

Scenario 1:

Scenario 2:

• Applying the June 2015 price models to this outcomeresults in average price range from just under $100/ct to >$200/ ct. $200/ct is positive for the project.

• Applying June 2015 price models to Scenario 2 results in average price range from <$50/ct to <$100/ct.- not good.

Q1-4 Grade/Size CurveComparative Curves

Total Parcel

‘Dark Yellow’only

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FUTURE WORK

Project Requires Increased Confidence in: Bulk SamplingDrilling

4500-6000 m drilling

Bulk Sample 1: +700 caratsconfirm yellow SFD model

Bulk Sample 2: +1000 caratsconfirm value +/- 20-25%

1. Volume / tonnage

2. Internal Geology

3. Spatial diamond data

4. Recoverable Grade

5. SFD’s of diamond Population

6. Diamond Value

Critical for PEA

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Drilling Spring / Summer

2017

NEXT LOGICAL STEPS – 2017 DRILLING

• 4,500-6,000m of delineation drilling.• Increase confidence in tonnage and diamond distribution of the Target for Further

Exploration (TFFE). • Proving up the TFFE is considered critical for the project.• Delineation drilling is the lowest cost critical piece to evaluating Q1-4. • Drill arrived at site in October.

12.5 ha surface area kimberlite24

2014Bulk

Sample Location

NEXT LOGICAL STEPS – 2017/18 SAMPLE

Bulk Sampling in 2017/18 to learn value of Yellow Diamonds

Near surface sub-crop of hypabyssal kimberlite23

• > 1,000 carats required to confirm most likely yellow diamond SFD; • Need 600-700 more carats (2X the 2014 sample size);• New, near surface hypabyssal kimberlite confirmed in 2016;• Characteristics of kimberlite unit A61a – highest grade model unit (77 cpht);• Represents new location of potentially higher grade kimberlite for sampling• Sample could be collected in 2017.

PIKOO PROJECT, SK

North Arrow (~85%)/Stornoway (~15%) Joint Venture.

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.

2016 till sample results pending

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23 +0.85 mm stones recovered from initial 2013 209 kg PK 150 sample

Till sampling works; Five discrete trains.

Positive samples range from 1 to 100’s of KIM grains.

Excellent chemistry -kimberlite indicator minerals are probe-confirmed as derived from diamond stable mantle.

PK150, PK346, PK314, PK312 and PK311 all proven to be diamondiferous

More discoveries to be made.

PIKOO PROJECT – KIMBERLITE INDICATOR TRAINS

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PK314, PK346, PK347 &“North Pikoo Dykes”

PK312

PK311

pyrope garnets ilmeniteeclogitic garnets chromite

Probe Confirmed Results

Bigger circles = more KIM grains= kimberlite

PK150(plus PK151 and other dykes)

Infill till sampling program focused on 4 areas.

All indicator trains require increased sample density: North Pikoo, South Pikoo, PK312 and Bear Lake.

Highest priority area remains North Pikoo - high interest KIMs in till no found in known kimberlites

Can more diamondiferous kimberlites be found?

PIKOO PROJECT – 2016 TILL SAMPLING

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PK346

PK312

PK311

pyrope garnets ilmeniteeclogitic garnets chromite

Probe Confirmed Results

Bigger circles = more KIM grains= kimberlite

PK150PK314

PK347

Bear Lake

MEL PROJECT - NU

Mel Project

100% interest in 7,500 hectare property on Melville Peninsula; 140 km south of Hall Beach; 210 km northeast Naujaat.

Three to five unique unsourced KIM trains well-defined from over 750 NAR & historic till samples.

2013, 2014, 2015 and 2016 till sampling & prospecting programs have systematically advanced the project.

Applying for drill permits - 2017 or 2018.

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MEL PROJECT, NORTHERN TRAIN

Northern indicator train is a 15km long multi-sample ribbon- like train up to 2.5km wide.

Diverging into multiple narrower trains suggestive of multiple sources.

High counts (>100 KIMs) in 2015 samples – close to source!

Excellent mineral chemistry.

2016 - 150 samples (yellow symbols) will cut off trains.

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• 100% NAR interest• ~7,000 ha• Focus on untested target areas related to

Monument kimberlite cluster • Covers diamondiferous EG05 kimberlite• Applications for drill permits underway

LAC DE GRAS PROPERTIES

Lac de Gras Property

• 125,000 ha south of Diavik.• 45% North Arrow, 55% Dominion Diamonds.• Overburden RC drilling program was funded

by Dominion in 2013/14 to earn their 55%.• 2016 - $1.28 million exploration budget.• Data compilation work (complete in

October), airborne geophysical survey (complete – pending results) and ground follow up work.

Loki Property

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THE WAY FORWARD

Pikoo – 2016 till sampling results; target generation for 2017 drilling. Mel & Loki – 2016 till sample results; permitting for drilling. Qilalugaq – Drill at site; Phase 1 Prove tonnage; Phase 2 & 3 Prove up SFD, & value. Review funding options to complete this work.

Project Location Commodity Interest CommentPikoo Saskatchewan Diamonds ~85% 2016 till sample results; 2017 drilling;Qilalugaq Nunavut Diamonds ~82% 2017 – delineation drilling;

2017-2018 – bulk sample leading to PEALac de Gras NWT Diamonds 45% Airborne geophysical survey; target

generation Mel Nunavut Diamonds 100% 2016 till sample results; Drill target

generationLuxx Nunavut Diamonds 100% Drill permit in hand;Loki NWT Diamonds 100% 2016 till & Esker samples Timiskaming Ontario Diamonds 80% Database evaluationHope Bay Nunavut Gold 100% JV potential

TSXV: NARKen Armstrong

President & CEO

Nick ThomasCommunity and Investor

Relations Manager

Suite 960-789 West Pender StreetVancouver, BC

Canada V6C 1H2Tel: +1.604.668.8354Fax: +1.604.336.4813

info@northarrowminerals.com

www.northarrowminerals.com

@narminerals

northarrowminerals