Canadian International Minerals Inc. and North Arrow Minerals Inc. Sign Letter of Agreement Regarding Pikoo Extension A and B Properties

Vancouver, BC / ACCESSWIRE / SEPTEMBER 23, 2014 / Canadian International Minerals Inc. ("CIN" or the "Company") (TSX-V: CIN) is pleased to announce that it has signed a Letter of Agreement ("LOA") with North Arrow Minerals Inc. ("North Arrow") which forms the basis for the terms of an agreement by which North Arrow can earn a 70% interest in CIN's Pikoo Extension A and B properties (the "Properties").

The Properties

The Pikoo Extension A and B properties are comprised of 5 claims totalling 3,447 hectares. The A group directly adjoins North Arrow's Pikoo property, and the B group lies approximately 7 km northeast of North Arrow's northern boundary. The Properties are 100% owned by CIN, with no underlying royalties. A map of the properties can be found on the Company's website.

The Option

Under the terms of the LOA, North Arrow may earn a 70% interest in the Properties by:

- Reimbursing claim staking costs; and

- Funding exploration and evaluation of the Properties to a Discovery (as defined below) on any of the Properties within a three year period (the "Option Period").

Definition of Discovery

For the purpose of exercising the Option, Discovery shall be defined as follows:

- Discovery of kimberlite by drilling; and

- Testing of the kimberlite for diamonds by way of industry standard caustic fusion analysis, subject to North Arrow's sole determination that sufficient kimberlite is available for a meaningful sample.

Royalty

In the event North Arrow completes the Option and has earned a 70% interest in the Properties, the Properties shall be subject to a 2.0% Gross Overriding Royalty ("Royalty") on diamonds in favour of CIN. For certainty, the Royalty shall be in addition to CIN's retained 30% interest in the Properties and will apply to 100% of proceeds from the Properties including CIN's retained interest. North Arrow shall retain the right to purchase 1.0% of the Royalty at any time for CAD $1,000,000.

Exploration Timeframe

North Arrow will conduct an initial evaluation of the Properties as part of its Fall 2014 till sampling program at the Pikoo diamond project, which is currently under way. In the event that North Arrow intends to conduct subsequent follow-up exploration on the Properties during 2015, North Arrow and CIN agree to conclude a more formal option agreement incorporating the terms outlined in the LOA, as well as additional terms and conditions as are typical of an industry standard option agreement, including a full definition of the Royalty.

About Canadian International Minerals Inc.

In addition to the Pikoo Extension Properties, CIN has acquired over 110,000 hectares of claims in the vicinity of the Pikoo diamond discovery, the majority of which cover a major regional fault structure (Tabbernor Fault). These claims were staked after re-analysis of historical airborne magnetic and EM data. CIN anticipates a reconnaissance prospecting, sampling, and ground-truthing program will commence the first week of October.

On behalf of the Board of Directors,

"Michael E. Schuss"

Michael E. Schuss

President and Chief Executive Officer

The technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the terms of N.I. 43-101. The transaction is subject to the acceptance of the TSX Venture Exchange.

For further information on Canadian International Minerals Inc. please visit the company website at www.cin-v.com or contact Michael E. Schuss at 604-241-2254.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Canadian International Minerals Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

SOURCE: Canadian International Minerals Inc.