Mr. Patrick Power of Arctic Star reports

SECOND ROUND OF CAUSTIC FUSION DIAMOND RESULTS STRENGTHENS PREVIOUS RESULTS, SEQUOIA KIMBERLITE COMPLEX

Arctic Star Exploration Corp. has received the second round of caustic fusion diamond results from the Sequoia kimberlite complex. The results are from the remaining half of the drill core recovered from drill holes DG 2021 04 and DG 2021 05 drilled 202 metres (m) apart in the central and northern parts of the Sequoia kimberlite complex. The results are given in the attached table. The entire core has now been fused, totalling 505 kilograms (kg). Usually, half the core is kept for reference, but due to the encouraging results from the diamond assays in the first half of the core and the encouraging indicator mineral results reported in the news release dated Sept. 7, the decision was made to fuse the entire core.

The samples were taken at the same intervals as the first and they confirm that the different rock types have different diamond counts. The indicator minerals also demonstrate that the two main rock types, the volcanoclastic kimberlite and coherent kimberlite, are different. While both have indicators equivalent to those found in the population of large diamonds found around the world and diamond inclusion chromite, only the coherent kimberlite has significant G10 and eclogitic garnets with diamond inclusion chemistry.

The Sequoia caustic fusion results were processed through SRC of Saskatoon, NQ core was hand split and bagged in approximately eight-kilogram samples to fit geological intervals where possible, the first half of core was sent and processed, and then the second half of the core was sent using the same sample intervals. Both samples were sent by chain of custody; SRC is an independent lab and an ISO accredited.

Samples are placed in a kiln, heated to 508 degrees Celsius with caustic soda for 24 hours. The residue is hot poured through a 0.075-millimetre sieve. The residue is then further chemically treated if required until just the refractory minerals remain, including diamonds. The residue is sized by sieving and then the diamonds are selected by a mineralogist. Larger diamonds (over 0.5 millimetre) are described and weighed.

Buddy Doyle commented: "These results demonstrate how noisy diamond results can be, with higher diamond counts and larger diamonds showing up when we fused the second half of the core. This is not unusual, it's all down to collecting enough sample. The current results suggest that a kimberlite sample of approximately five t [tonnes], 10 times the sample we have to date, would produce a smooth diamond size frequency curve from which a first (global) grade estimate could be made. Such a sample should provide further guidance to the probability of really large stones. Drilling using HQ-sized core at 100-metre spacing within the Sequoia kimberlite complex planned for spring 2022 will be able to achieve this. Results to date are encouraging, considering the small sample size, and suggest grades that will fall within the range of kimberlites being mined in the Lac de Gras field (where pipes with grades of 0.3 c/t to 4.2 c/t are being mined or are in mine plans), with a possible added bonus of higher propensity of larger stones as suggested by indicator data. The Sequoia complex is large and the extra drilling will also help define tonnage. More work will tell."

Qualified person

The qualified person for this news release is Mr. Doyle, AUSIMM, a geologist with over 35 years of experience in diamond exploration, discovery and evaluation. Mr. Doyle led the team that discovered the kimberlites being mined at Diavik and 100 other kimberlites in the Lac de Gras field. He also received the Hugo Dummitt award for excellence in diamond exploration in 2005.

About Arctic Star Exploration Corp.

Arctic Star is predominantly a diamond explorer, recently discovering five new kimberlites in the prolific Lac De Gras kimberlite field that supports two multibillion-dollar kimberlite mining complexes. The company also has a 958-hectare exploration permit containing several diamond-bearing kimberlites on its Timantti project, Kuusamo, Finland. Arctic Star has optioned its Stein diamond project in Nunavut to GGL, which is planning work once COVID restrictions lift. The company continues to look for appropriate diamond opportunities elsewhere.

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