Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES SALE OF CAP PROPERTY

Arctic Star Exploration Corp. has sold all its interest in the carbonatite-syenite complex Cap property, located approximately 80 kilometres northwest of Prince George, B.C. The total property now exceeds 10,482 hectares and was last worked by the company in 2017 (see the company's news release dated Aug. 8, 2017).

The sale was made to a private British Columbia company, Eagle Bay Resources Corp., for a large equity position in that company of 17 million common shares, which is a controlling stake. The sale allows Arctic Star to focus solely on diamond exploration, development and production at its various diamond exploration properties, which is the core of its business and assets. The sale gives Arctic Star the opportunity to retain an interest in a promising rare earth element property but none of the responsibilities of developing or financing it.

About Arctic Star Exploration Corp.

Arctic Star owns 100 per cent of the Timantti diamond project, including a 243-hectare exploration permit and a 190,000-hectare exploration reservation near the township of Kuusamo in Finland. The project is located approximately 550 kilometres southwest of the operating Grib diamond mine in Russia. Arctic Star 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) and the Northwest Territories (Diagras and Redemption).