Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES APPLICATION FOR A MANAGEMENT CEASE TRADE ORDER

Arctic Star Exploration Corp.'s annual financial statements for the year ended Dec. 31, 2024, including the related management's discussion and analysis, and chief executive officer and chief financial officer certifications are not expected to be filed as required under Canadian securities legislation by the required filing deadline of April 30, 2025.

The company is working diligently with its accounting staff and external auditor to file the annual filings as soon as practicable; however, the annual filings are not expected to be filed before the filing deadline due to issues preparing the financial statements for the company's wholly owned Finnish subsidiary, Foriet Oy. The company will not be able to accurately prepare and file the required filings until Foriet Oy's audit can be completed and the company can consolidate the results of Foriet Oy. The company currently expects to be able to file the annual filings on or before May 30, 2025.

The company has applied to the applicable Canadian securities regulatory authorities for a management cease trade order related to the company's securities to be imposed against the chief executive officer and chief financial officer of the company to trade securities of the company. The company will update the market following a decision on the cease trade order application.

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. The company continues to look for appropriate diamond opportunities elsewhere.

We seek Safe Harbor.