Mr. Patrick Power reports

ARCTIC STAR EXPLORATION GRANTS STOCK OPTIONS

Arctic Star Exploration Corp. has granted 200,000 stock options of the company to A.C.O. Enterprises Corp. pursuant to a marketing agreement previously announced on Dec. 15, 2021. Each option entitles A.C.O. Enterprises to purchase one common share of the company at a price of 10 cents per common share until Dec. 4, 2024. One-quarter of the options will vest every three months following the date of grant until the first anniversary of the date of grant. The option grant was made in accordance with Policy 4.4, Security Based Compensation, of the TSX Venture Exchange and the terms and conditions of the company's stock option plan and remains subject to approval by the exchange.

In reference to the recently announced closing of the private placement described in the company's news release dated Dec. 31, 2021, TSX-V approval has been received and the company has paid a finder's fee of $3,675 to Haywood Securities Inc.

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 in Kuusamo, Finland. Arctic Star has optioned its Stien diamond project in Nunavut to GGL Diamonds, which plans to work once COVID-19 restrictions lift. The company continues to look for appropriate diamond opportunities elsewhere.

We seek Safe Harbor.