Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES SHARE CONSOLIDATION

Arctic Star Exploration Corp.'s board of directors has approved a consolidation of common shares of the company on the basis of one postconsolidated share for five preconsolidated shares. The consolidation is subject to TSX Venture Exchange approval.

Currently, a total of 129,814,274 common shares are issued and outstanding. Accordingly, upon the consolidation becoming effective, a total of approximately 25,962,855 common shares will be issued and outstanding. There is no maximum of authorized common shares.

Computershare Investor Services Inc. will mail letters of transmittal to the shareholders providing instructions on exchanging preconsolidation share certificates for postconsolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letters of transmittal, to Computershare in accordance with the instructions in the letters of transmittal.