VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2013) - North Arrow Minerals Inc. (News - Market indicators) ("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