The six new claims are located approximately 140km east of the Town of La Ronge, Saskatchewan and within 15km from the Pikoo PK150 kimberlite.
North Arrow Minerals is testing the diamond potential of the northern Saskatchewan Craton, with the discovery in 2013 of several kimberiltes containing diamonds.
As part of the agreement signed earlier, Alto will pay $18,000 staged over two years and the issuance of 25,000 shares of Alto to the Vendor for the acquisition of 100% interest in the six claims.
Alto, following 100% owner of the claims, will grant a 2% Net Smelter Returns Royalty (NSR) to the Vendor.
The acquisition is subject to TSX Venture Exchange acceptance while Alto retains the buyback right 1% of the NSR for $1m.
