North Arrow Extends Tlou Discovery to More than 700 m Strike and Drills 1.9 g/t Au over 20 m Within 1.2 g/t Au over 42 m, Kraaipan Gold Project, Botswana

All 9 reported holes intersect gold mineralization and Tlou remains open along strike and down-dip

Vancouver, British Columbia--(Newsfile Corp. - November 4, 2026) - North Arrow Minerals Inc. (TSXV: NAR) (OTCQB: NHAWF) (FSE: 9TB) ("North Arrow" or the "Company") today reports results from the first 9 of 16 reverse circulation ("RC") drill holes completed during Rotation 4 at the Kraaipan Gold Project ("Kraaipan") in southern Botswana. All nine holes, which tested the strike extent of the Tlou discovery (Target AE), intersected mineralized, altered and quartz-veined banded iron formation ("BIF") and ferruginous chert, extending near-surface gold mineralization at Tlou to more than 700 m of strike. Mineralization remains open along strike and down-dip. Results from the remaining five holes at Tlou and two holes at Nkwe (Target AF) are expected before year end.

Key Highlights

• Strike length at Tlou extended to more than 700 m — Rotation 4 drilling extends near-surface mineralization 400 m south, and 100 m north of the 260-metre zone previously announced (July 15, 2026).
• Wide, near-surface zones with higher-grade cores: KR26-095 returned 1.9 g/t Au over 20 m within 1.2 g/t Au over 42 m from 17 m, with the higher grades associated with quartz veining and weathered sulphide. These results are similar to those from Rotation 2-hole KR26-040, which yielded 1.71 g/t Au over 12 m within 1.11 g/t Au over 27 m (July 15, 2026).
• Gold mineralization confirmed in multiple rock types: While BIF and ferruginous chert remain the primary exploration target, altered mafic rocks returned 0.84 g/t Au over 4 m in KR26-095 (31-35 m), and KR26-100 returned 0.56 g/t Au over 16 m from a massive, hematite-altered, iron-rich unit with no visible quartz veining. These results broaden exploration targeting beyond BIF across the greenstone belt.

CEO Commentary

Eira Thomas, Chief Executive Officer of North Arrow, stated:

"Drilling over the past two years has advanced Tlou, Nkwe and Tau from targets to bona fide discoveries. At Tlou, all nine holes reported today intersected mineralized BIF, extending near-surface gold mineralization to more than 700 m of strike. Equally important, gold found in altered mafic rocks and in a hematite-altered, iron-rich unit points to the potential for mineralization within other types of host rocks. BIF has been our primary target to date, and these results underline how early we are in exploring Kraaipan and that gold may occur in more than one setting across the belt. We look forward to results from the remaining seven holes before year end."

Drilling Summary

Based on results to date, three areas of interest have been elevated from targets to discoveries and given traditional Setswana names (Figure 1, Table 1). For the purposes of summarising the result, the Tlou discovery has been subdivided into three geographically distinct areas (see Table 2 and discussion below).

Table 1: Setswana Names for Newly Designated Discoveries

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Figure 1: Kraaipan Gold Project 

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Sixteen RC holes totalling 1,075 m were completed during Rotation 4: 14 at Tlou (968 m) and 2 at Nkwe (107 m). Table 2 summarizes the drill information and Figure 2 displays the hole locations. Assay results for 9 of the 16 holes are summarised in Table 3.

Table 2: RC Drill Summary

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Tlou RC Drilling Results

Results are presented for 9 of the 14 holes completed during the recent program. The program was designed to test the southern and northern strike extent of Tlou previously drilled in May 2026 with the results announced on July 15, 2026.

Figure 2: Kraaipan Gold Project Tlou RC drill collar locations with selected gold intersections from Rotation 2 and 4 drilling. 

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Tlou South

A total of 7 holes, spaced approximately 60 m apart, were drilled along the interpreted southern projection of Tlou with all 7 holes intersecting zones of altered and quartz veined BIF and ferruginous chert (refer to Table 3 for assay results). The southern holes (KR26-098 and KR26-099) intersected narrow zones of altered BIF with quartz veining along trend within a package of BIF and variably altered mafic rocks. Field mapping suggests the presence of E-W trending faults which may have offset the mineralized domains.

RC holes KR26-095 and KR26-096 intersected wide domains of mineralized BIF and ferruginous chert within which occur higher grade zones associated with quartz veining and relict sulphide. KR26-096 returned 3 m of 0.79 g/t Au within 19 m of 0.38 g/t Au. KR26-095 returned 20 m of 1.93 g/t Au from 39-59m downhole including a high-grade zone of 3 m of 8.69 g/t Au (46-49m downhole) all within a wider zone of 42 m at 1.17 g/t Au.

Tlou North

A total of 4 holes tested the northern strike extent. Results for two of the holes are presented in Table 3. The northern hole (KR26-101) intersected a narrow domain of altered and mineralized BIF.

KR26-100 intersected 0.56 g/t Au over 16 m within 0.36 g/t Au over 45 m and was collared 30 m north of KR26-043 (0.57 g/t Au over 35 m, including 1.72 g/t Au over 7 m July 15, 2026).

Results from two additional holes, a 60 m step out to the north of KR26-101 and an infill hole between KR26-100 and KR26-043, are pending and will be released before year end.

Tlou Main

Results from three holes are pending from Tlou Main. Two holes were designed as scissor holes (KR26-106, 107) to help resolve the geometry of mineralization (Figure 1), and a deeper test on the mineralization (KR26-105).

Mineralization in Multiple Rock Types

Although the primary exploration model for the Kraaipan Project is focused on BIF and ferruginous cherts, altered mafic rocks with and without quartz veining have returned gold values along the strike extent at Tlou. At Tlou south, an altered and quartz veined mafic host intersected in KR26-095 returned 0.84 g/t Au over 4 m from 31-35 m depth. At Tlou north, KR26-100 intersected a wide domain of gold mineralization within a relatively massive iron-rich, hematite-altered, variably magnetic unit with no discernable quartz veining (KR26-100, 30 - 59m downhole) and returned 0.56 g/t Au over 16 m. Targeting of favourable structures, rheological contacts and trends in non-BIF domains expands the exploration potential along the greenstone belt.

Nkwe RC Drilling

Assay results from 2 holes at Nkwe planned to test the southern strike extent and better resolve the nature of mineralization intersected at AF-Grid 1 in RC drill hole KR26-021 (4.04 g/t Au over 9m, July 15, 2026) are pending and will be reported before year end.

Table 3. Summary of Assay Results

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2026 Exploration Budget

The 2026 exploration budget has increased from US$2.3 million to US$2.86 M to accommodate Rotation 4 drilling, expanded rock sampling and new soil sampling grids.

Next Steps

• Tlou and Nkwe RC assay results for the remaining seven holes are expected before year end.
• Hyperspectral scanning of representative 2025 and 2026 RC drill chips and cuttings was completed in early Q4/2026, and results are in the process of being compiled.
• Surface prospecting, soil sampling, ground geophysics will continue across the property.

About the Kraaipan Gold Project

The Kraaipan Project comprises approximately 724 km² of mineral concessions covering the entire ~60 km northern extension of the Kraaipan Greenstone Belt, a highly prospective Archean greenstone terrain straddling the Botswana-South Africa border. Over 80% of the northern portion of the belt is covered by Kalahari overburden, which has seen limited past exploration. The South African portion of the belt hosts numerous mineral occurrences including Harmony Gold's Kalgold Mine, a multi-million-ounce, BIF-hosted gold operation located 40 km to the south that has been in continuous production for over 30 years.

North Arrow can earn up to 80% interest in the Kraaipan Project from Rockman Resources through a First Option to earn 60% by investing US$5 M over three years (US$1 M firm commitment achieved), and a Second Option, at Rockman's election, to earn an additional 20% upon completion of a Preliminary Economic Assessment. North Arrow's partner Rockman Resources — through its operator Mineral Services — leverages over 25 years of operational experience in Botswana, together with proprietary technologies including high-resolution UAV magnetics, a mobile RC drilling platform optimized for Kalahari conditions, and in-house sample preparation.

Sampling, Laboratory Analyses and QA/QC

RC and surface rock samples collected in the field were driven to Mineral Services' facility in Gaborone to be sorted and prioritized for assay. Samples were allocated unique random sample numbers, sealed and shipped to ALS's laboratory in Johannesburg, South Africa using industry-standard chain-of-custody protocols. Following an initial coarse crush (CRU-21), the entire sample is then pulverized (PUL-21) to better than 85% passing a 75-micron screen prior to geochemical analysis. All samples are analyzed for gold by fire assay with an ICP-AES finish, method code Au-ICP22 (50-gram sample). Samples returning gold values over 10 ppm are subjected to ore-grade check assays using fire assay and a gravimetric finish using method code Au-GRA22 (50-gram sample). Samples are also subjected to lithium borate fusion and acid digestion for whole-rock analysis of major and trace elements by ICP-AES (major elements) and ICP-MS (trace elements); method codes ME-ICP06 and ME-MS81, respectively. In addition, a suite of base metals and other trace elements not included in the ME-MS81 method are analysed by ICP-AES on four-acid digestions (method code ME-4ACD81).

QA/QC protocols include ALS laboratory's own internal quality assurance controls as well as Rockman's field controls, including the insertion of duplicates and certified reference materials (CRM), each at a rate of roughly one per 20 samples. QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates, CRMs and blanks fall outside allowed tolerances.

About North Arrow Minerals

North Arrow Minerals is a Vancouver-based exploration company focused on evaluating the Kraaipan Gold Project. Management and advisors bring significant global exploration and mining experience. North Arrow's exploration programs are conducted under the direction of Dr. John Armstrong, Ph.D., P.Geo. (NWT/NU), President and Chief Operating Officer of North Arrow and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Dr. Armstrong has reviewed and approves the contents of this press release.

North Arrow Minerals Inc.
/s/ "Eira Thomas"
Eira Thomas, Chief Executive Officer

For further information, please contact:
Nick Thomas, Manager of Investor and Community Relations
Tel: 778-229-7194 | Email: [email protected]
Website: www.northarrowminerals.com

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

Forward-Looking Statements

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. 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. The Company assumes no obligation to update forward-looking statements except as required by law.

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