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Arctic Star Exploration Corp (3)
Symbol ADD
Shares Issued 103,518,863
Close 2018-05-09 C$ 0.155
Market Cap C$ 16,045,424
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Arctic Star increases Timantti to 193,700 hectares

2018-05-10 09:22 ET - News Release

Mr. Scott Eldridge reports

ARCTIC STAR ANNOUNCES 100% INCREASE TO LAND POSITION, TIMANTTI PROJECT, FINLAND

Arctic Star Exploration Corp. has increased its land position by 100 per cent on the Timantti diamond project in Finland. The project now comprises a total of 193,700 hectares under an exploration reservation, representing a district-scale land package that is 100 per cent owned with no underlying royalties.

Highlights:

  • The Timantti diamond project has increased by 98,000 hectares, for a total land package of 193,700 hectares.
  • The new exploration reservation package extends the pre-existing land package to the south where previous work has discovered at least one kimberlite body.
  • The new exploration reservation was acquired directly from the Finish Mining Authority at an approximate acquisition cost of $3,750 plus associated legal costs.
  • The company has applied for and anticipates it will receive an exploration permit in short order for the new ground to thus begin exploration activity this summer.

To date the company has been focused on the 243-hectare exploration permit within the initial 95,700-hectare exploration reservation, representing only a small portion of the project. The newly acquired ground has significant exploration potential highlighted by the historic work conducted on the property by previous owners.

Buddy Doyle, vice-president of exploration, stated: "We are extremely pleased to have doubled our land package on the Timantti project, rarely do you see one company consolidate such a large land package in a potential kimberlite field. We experienced a staking rush in Northwest Territories, Canada, during the discovery days of Diavik, given that experience we thought we'd tie up as much land as possible now."

About Arctic Star Exploration Corp.

The company has commenced its exploration in Finland on the Timantti project, where four diamondiferous kimberlite bodies may represent the first discoveries in a large kimberlite field. The company also controls diamond exploration properties in Nunavut (Stein), the Northwest Territories (Diagras and Redemption) and a rare metals project in British Columbia (Cap).

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