North Arrow Minerals Enters Option Agreement with Arctic Star for the Redemption Diamond Project in NWT

North Arrow Minerals Inc. (TSXV:NAR) entered into an agreement with Arctic Star Exploration Corp. (TSXV:ADD) whereby Arctic Star has granted North Arrow an option to earn a 55% interest in the Redemption diamond project in the Lac de Gras region of the Northwest Territories by incurring $5 million in exploration expenditures prior to July 1, 2017.

As quoted in the press release:

Under the terms of the option agreement with Arctic Star, North Arrow can earn a 55% interest in the Redemption project by incurring $5 million in exploration expenditures prior to July 1, 2017, including a firm commitment to spend $1,000,000 prior to July 1, 2014. The cost of the current airborne gravity survey will be included in the first year expenditures.

Click here to read the North Arrow Minerals Inc. (TSXV:NAR) press release