North Arrow Minerals

Name

North Arrow Minerals

Legal name

North Arrow Minerals Inc.

Website

https://northarrowminerals.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Capital Markets / Equity Financing: Pre-revenue exploration company funded primarily through equity raises. Uses non-brokered private placements, flow-through financing for Canadian exploration, and public market listings (TSX-V and OTCID) to raise capital for exploration activities.
2. Asset Sales and Royalty Interests: Generating proceeds through sale of project interests, royalties, and lithium property divestitures (e.g., sale of NWT lithium properties to Li-FT Power, royalty sale at Loki Project, sale of Oro Gold Property).

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

North Arrow Minerals is a publicly traded mineral exploration company that evaluates and advances gold and diamond exploration projects. The company's primary asset is the Kraaipan Gold Project in Botswana, where it is earning up to 80% interest from Rockman Resources to explore the northern extension of the Kraaipan Greenstone Belt. The company also maintains a portfolio of Canadian diamond projects (Naujaat in Nunavut, Pikoo in Saskatchewan, and Loki in the Northwest Territories) and previously divested lithium assets to Li-FT Power in early 2025.

Product overview

North Arrow Minerals is a mineral exploration company focused on evaluating and advancing gold and diamond projects. The company's primary focus is the Kraaipan Gold Project in Botswana, where it is exploring for gold along the northern extension of the Kraaipan Greenstone Belt. North Arrow also maintains a portfolio of Canadian diamond projects including Naujaat (Nunavut), Pikoo (Saskatchewan), and Loki (NWT). The company was previously involved in lithium exploration but sold those assets to Li-FT Power in early 2025. North Arrow's exploration programs are conducted under the direction of Dr. John Armstrong, President and COO, a Qualified Person under National Instrument 43-101.

Differentiator

Problem solved

Functional benefit

Products and services

• Kraaipan Gold Project Gold exploration project in Botswana covering a 60 km segment of the northern extension of the Kraaipan Greenstone Belt, an Archean greenstone belt that hosts Harmony Gold's multi-million-ounce Kalgold Mine ~40 km to the south. North Arrow is earning up to 80% interest from Rockman Resources. The project is in the rapid RC drill testing of geophysical targets phase, leveraging UAV-based high-resolution magnetic surveys (452 km² coverage) and a mobile RC drilling platform optimized for Kalahari sand-covered terrain.
• Naujaat Diamond Project

Quantifiable outcome

• 30m @ 1.56 g/t Au intercept including 4m @ 4.26 g/t Au at Kraaipan Target A (2025)
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Rockman Resources Ltd.coreStrategic or Co-development Partner · 13 September 2024North Arrow entered into agreement to earn up to 80% interest in the Kraaipan Gold Project from Rockman Resources. First Option: earn 60% by investing US$5 million over 3 years (US$1 million firm commitment achieved). Second Option: earn additional 20% upon completion of a Preliminary Economic Assessment at Rockman's election.
• Mineral Services (Rockman Resources operator)coreTechnology or IntegrationRockman's operator, Mineral Services, leverages over 25 years of operational experience in Botswana together with proprietary technologies including high-resolution UAV magnetics, mobile RC drilling platform optimized for Kalahari conditions, and in-house sample preparation. Provides technical execution capabilities for exploration programs.
• Li-FT Power Ltd.minorStrategic or Co-development PartnerNorth Arrow sold its Northwest Territories lithium properties (DeStaffany, Mackay, LDG) to Li-FT Power in early 2025, transitioning focus to the Kraaipan Gold Project in Botswana.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Newcore Gold: Junior gold exploration company advancing the Enchi Gold Project in Ghana with RC and diamond drilling on a greenstone belt target. Comparable to North Arrow as a small-cap, single-jurisdiction gold explorer in Africa with a stage-appropriate drill program and partnership-driven model.
• Heliostar Metals: Exploration and development-stage gold company with assets in Mexico and Alaska. Comparable to North Arrow as a junior gold explorer pursuing resource delineation on underexplored belts and raising equity to fund drill programs.

Broad incumbents

• Sandfire Resources: Mid-tier copper and gold producer that operated the Motheo copper-gold mine in Botswana. Comparable as a meaningful mineral industry incumbent operating in Botswana, validating the jurisdiction and the greenstone-belt gold thesis near Kraaipan.
• IAMGOLD: Intermediate gold producer with operating mines in West Africa and Canada (Côté Lake). Comparable as a publicly listed gold company with significant African exposure and a portfolio approach that contrasts with North Arrow's single-asset focus.
• Endeavour Mining: Senior West Africa-focused gold producer with multiple operating mines. Comparable as a benchmark for what a successful African gold explorer can scale into, providing a reference point for the long-term re-rating potential of North Arrow's Kraaipan asset.
• Gold Fields: Major gold producer operating the Kalgold mine in South Africa on the Kraaipan Greenstone Belt. Comparable as the operator of the closest analog deposit to North Arrow's Kraaipan Gold Project and as a strategic potential acquirer if the asset matures.
• Harmony Gold: South African gold major with the Kalgold mine on the same Kraaipan Greenstone Belt geology. Comparable as the producer operating the deposit that validates North Arrow's geological thesis and as a potential strategic acquirer of the Kraaipan Project.

Emerging players

• Lucara Diamond Corp. Diamond producer operating the Karowe Mine in Botswana, with strong leadership ties to North Arrow (CEO Eira Thomas co-founded Lucara, COO John Armstrong led Karowe feasibility). Comparable as a Botswana-focused diamond operator and a precedent for North Arrow's historical diamond portfolio direction.
• Mountain Province Diamonds: Canadian diamond miner with the Gahcho Kué joint venture in the Northwest Territories. Comparable to North Arrow's Canadian diamond portfolio (Naujaat, Pikoo, Loki) as a small-cap publicly listed diamond company focused on Canadian kimberlite assets.
• Tectonic Metals: Junior gold exploration company with assets in Alaska and British Columbia. Comparable as a small-cap, single-commodity gold explorer using systematic drill programs, and notably a company where North Arrow's President/COO Dr. John Armstrong sits on the board.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds14 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about North Arrow Minerals