North Arrow Minerals Reports Significant Gold Intercepts at Targets AE and AF in Botswana’s Kraaipan Greenstone Belt

Rotation 2 Drilling Program Overview at Kraaipan

North Arrow's Rotation 2 reverse circulation drilling at the Kraaipan Gold Project consisted of 22 RC holes across Targets AE and AF, with one hole abandoned. Anomalous gold mineralisation was intersected in 21 of the 22 completed holes, demonstrating the gold system's broad consistency across both targets. This drilling is part of the company’s US$2.3 million 2026 exploration budget, covering approximately 724 square kilometres along the northern extension of the Kraaipan Greenstone Belt.

The project area lies within an Archean greenstone terrane that remains significantly underexplored, primarily due to shallow Kalahari sand cover masking bedrock geology. The project represents the direct northern extension of the belt hosting Harmony Gold's multi-million-ounce Kalgold Mine, located 40 kilometres south. The banded iron formation-hosted mineralisation observed in Rotation 2 drilling is analogous to that mined at Kalgold, as highlighted by the company’s CEO.

Target AE: Eight Holes Reveal Bedrock Gold Over 260 Metres of Strike

Drilling at Target AE, conducted from April 30 to May 4, 2026, included eight angled RC holes totaling 479 metres, drilled at an azimuth of 280 degrees and a dip of 60 degrees. Bedrock gold intercepts were returned in all eight holes along the 260-metre interpreted strike length, with six holes showing wide intervals of 13 to 35 metres grading above 0.5 g/t Au. Mineralisation is hosted in thick zones of altered and gold-mineralised ferruginous chert and altered banded iron formation, with gold associated with silicification, hematite alteration, quartz veining, and weathered sulphides.

The standout intercept at Target AE was hole KR26-040, which returned 27 metres at 1.11 g/t Au from 27 to 54 metres depth, including 12 metres at 1.71 g/t Au from 42 to 54 metres and a high-grade 2-metre sub-interval at 7.59 g/t Au from 42 to 44 metres. Other notable intercepts include KR26-038 with 19 metres at 0.97 g/t Au, KR26-036 with 26 metres at 0.59 g/t Au, KR26-042 with 27 metres at 0.57 g/t Au, and KR26-043 with 35 metres at 0.57 g/t Au. Estimated true widths are approximately 50 to 75 percent of drilled intervals, and the target remains open along strike and at depth.

New Hanging Wall Gold Zone at Target AE Enhances Exploration Potential

Mapping and sampling identified a new gold-bearing zone 15 to 20 metres in the hanging wall of Target AE, currently mapped over a 200-metre strike and not yet drill-tested. One of seven surface grab samples returned 6.7 g/t Au. The zone consists of variably deformed quartz veins with silicified selvages and minor relict sulphides hosted in banded iron formation, with parts obscured by cover. This discovery suggests potential for additional parallel mineralised structures beyond the main drilled zone. No drill plans for this hanging wall zone have been disclosed yet.

Target AF: High-Grade Southern Grid Anchors 450-Metre Mineralised Corridor

Drilling at Target AF, completed between April 14 and 29, 2026, included 14 angled RC holes totaling 719 metres across four grids spaced along a 450-metre strike. Bedrock gold intercepts were returned in 13 of 14 holes, with higher-grade intervals within thicker altered banded iron formation sections.

Southern Grid 1 delivered the top result at Target AF, with hole KR26-021 returning 9 metres at 4.04 g/t Au from 11 to 20 metres depth, including 3 metres at 7.21 g/t Au and a peak 1-metre composite sample of 10.3 g/t Au. Adjacent hole KR26-022 returned 9 metres at 2.46 g/t Au, including 3 metres at 6.1 g/t Au. This mineralised zone sub-crops and was exposed during drill pad preparation, located about 70 metres west of zones targeted at Grids 2 to 4, possibly representing a different stratigraphic setting.

Strike Continuity Confirmed Across All Four Target AF Grids

While Grid 1 yielded the highest grades, drilling at Grids 2, 3, and 4 confirmed northward strike continuity of altered banded iron formation mineralisation over the full 450-metre target length. Highlights include KR26-026 with 19 metres at 0.51 g/t Au (including 9 metres at 0.78 g/t Au) and KR26-029 with 5 metres at 1.72 g/t Au at Grid 3. Grid 4 returned intercepts in all four holes, including KR26-030 with 10 metres at 0.46 g/t Au and KR26-032 with 2 metres at 1.5 g/t Au.

Intersections at Grid 4 align with zones in Grids 2 and 3, confirming strike continuity. Deeper intercepts in holes KR26-033 and KR26-030 may represent down-dip extensions of mineralisation in KR26-032. Further drilling is needed to define structure and orientation, especially in the structurally complex Grid 1 area. Mineralisation at Target AF remains open along strike and at depth.

Geological Context and Comparison to Harmony Gold’s Kalgold Mine

The Kraaipan Gold Project covers about 724 square kilometres of mineral concessions encompassing the northern 60-kilometre extension of the Kraaipan Greenstone Belt, spanning the Botswana-South Africa border. Over 80 percent of the northern belt is covered by Kalahari sands, limiting previous exploration. The South African portion hosts Harmony Gold's Kalgold Mine, a multi-million-ounce banded iron formation-hosted gold operation in continuous production for over 30 years.

The Rotation 2 drilling mineralisation style — wide zones of silicification, hematite alteration, quartz veining, and sulphidation within banded iron formation and ferruginous chert — is analogous to Kalgold’s mineralisation. Individual RC composite samples returned up to 10.3 g/t Au at Target AF and 13.9 g/t Au at Target AE, supporting earlier high-grade surface samples. The 60-kilometre greenstone belt remains significantly underexplored due to Kalahari sand cover.

Earn-In Agreement and Partnership with Rockman Resources

North Arrow holds rights to earn up to an 80 percent interest in the Kraaipan Project from Rockman Resources. Under a First Option, North Arrow can earn 60 percent by investing US$5 million over three years, having already committed US$1 million. A Second Option allows earning an additional 20 percent upon completing a Preliminary Economic Assessment, at Rockman’s discretion.

The project is operated by Rockman’s Mineral Services, which brings over 25 years of Botswana experience and proprietary technologies such as high-resolution UAV magnetics and mobile RC and core drilling platforms optimized for Kalahari conditions. In-house sample preparation capabilities provide logistical advantages. This partnership and operator expertise are key assets in advancing exploration amid sand cover challenges.

Sample Assay Procedures and Quality Control

RC and surface rock samples were transported to Mineral Services’ Gaborone facility, then sent to ALS’s Johannesburg laboratory under strict chain-of-custody protocols. Samples underwent coarse crushing and pulverisation to over 85 percent passing 75 microns. Gold was analyzed by fire assay with ICP-AES finish; samples exceeding 10 ppm gold received ore-grade check assays by fire assay with gravimetric finish. Whole-rock major and trace element analyses were also conducted.

Quality assurance and control included ALS internal protocols and Rockman field controls, with duplicates and certified reference materials inserted at a rate of about one per 20 samples. QA/QC data are reviewed upon receipt, with corrective actions taken if results fall outside tolerances. Dr. John Armstrong, Ph.D., P.Geo., President and COO of North Arrow, is the Qualified Person who reviewed and approved this announcement.

Ongoing Exploration and Rotation 3 Drilling Initiated

Additional activities beyond Rotation 2 results include Rotation 3 vertical RC drilling targeting new regional opportunities beneath Kalahari cover, identified through geophysical and structural analysis. The initial three-week Rotation 3 program began mid-June 2026, with a second phase tentatively planned for mid-July. These holes aim to test the base of Kalahari cover and upper bedrock at new regional targets.

Surface prospecting and soil sampling are underway north of Target AE, between Targets A and AF, and south of Target A. Surface prospecting is complete, with soil sampling scheduled for Q3 2026. Interpretation of Rotation 1 and 2 drill data continues, focusing on developing targets for further RC and potential core drilling to better understand structural controls, fault offsets, and relationships between veining, alteration, and gold mineralisation. Rotation 4 drill planning is progressing based on these interpretations. Immediate share price impact remains unclear from available public information.