Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Arctic Star Exploration Corp. has completed the first tranche of its previously announced private placement financing, as described in its news release dated March 24, 2016, pursuant to which it has issued a total of 8.9 million units at a price of four cents per unit for gross proceeds of $356,000. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one share at a price of five cents per share for a period of two years from the date of issuance. The company intends on completing additional tranches of the financing.

The company did not pay any finders' fees in connection with the first tranche of the financing.

Proceeds from the financing will be used for maintenance of the company's T-Rex and Triceratops properties, and for general working capital. The securities issued under the financing and the shares that may be issuable on exercise of the warrants are subject to a statutory hold period expiring on Aug. 9, 2016.