North Arrow Closes Shares for Loan Transaction

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

News Release NORTH ARROW CLOSES SHARES FOR LOAN TRANSACTION

February 1, 2013 Trading Symbol: TSXV: NAR #13-02

North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or the “Company”) announces it has closed the debt settlement between the Company and Anglo Celtic Exploration Ltd. announced in North Arrow news release #12-06 dated October 25, 2012. Under the debt settlement, North Arrow and Anglo Celtic have settled an outstanding debt in the amount of $1 million plus unpaid interest accrued thereon by the issuance and delivery of 21,639,100 shares of the Company to Anglo Celtic. The shares were issued at a price of $0.05 per share. Anglo Celtic is a private company controlled by D. Grenville Thomas, who is President, CEO and a director of North Arrow.

North Arrow Minerals Inc.

/s/ “Kenneth Armstrong”

Kenneth Armstrong Director

For further information, please contact:

Ken Armstrong Tel: 604-668-8355 Website: www.northarrowminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.