Arrow Minerals Limited announced two significant steps forward for the Company as it moves to implement Arrow's strategy of delivering long-term value to shareholders through the discovery and development of economic mineral deposits in West Africa. The Simandou North Iron Project lies at the northern end of the Simandou Range and forms an extension of the stratigraphy that hosts one of the largest undeveloped high-grade iron deposits in the world, including Winning Consortium Simandou (WCS) Block 1 & 2 with a reported measured, indicated and inferred mineral resource of 1.8 billion tonnes at 65.4% Fe and Rio Tinto Simfer's (Simfer) Simandou Project Block 3 & 4 with a total measured, indicated and inferred mineral resource estimate of 2 billion tonnes grading 65.5% iron. Historical exploration work undertaken in the wider area by BSGR and Vale through the early to mid 2000s, including airborne magnetic geophysical surveys, geological mapping and completion of 4 diamond drill holes (157m), confirmed the continuation of the iron hosting Simandou Group stratigraphy into the Simandou North permit.

investment is set to deliver shared purpose infrastructure to the area, expected to be completed by December 2024, enabling commercial production from mines in the area by 2025. The emergence of a combined commitment between Government and Industry opens the way for Arrow to potentially establish itself as a major West African mining company. Simandou North Iron Project allows Arrow to participate in the development of an area where, until now, mineral wealth has been locked up due to infrastructural constraints.