North Arrow Closes Shares for Loan Transaction

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/01/13 -- North Arrow Minerals Inc. (TSX VENTURE: 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.

Kenneth Armstrong, Director

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

Contacts:
North Arrow Minerals Inc.
Ken Armstrong
604-668-8355
604-668-8366 (FAX)
www.northarrowminerals.com

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