Mr. Patrick Power reports

ARCTIC STAR POSTPONES FILING OF INTERIM FINANCIAL STATEMENTS AND MD&A DUE TO COVID-19 RELATED DELAYS

Arctic Star Exploration Corp. has postponed filing its interim financial statements and management's discussion and analysis (MD&A) for the period ended March 31, 2020, due to logistics and delays caused by the COVID-19 pandemic.

The company is relying on the exemptive relief recently granted by Canadian securities regulatory authorities that allows it to delay the filing of its interim documents required by National Instrument 51-102 due by June 1, 2020. In response to the COVID-19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.

The company estimates that its 2020 interim documents will be available for filing at its earliest opportunity, which is expected to occur on or before July 15, 2020. Until such time as the 2020 interim documents are filed, the company's management and other insiders are subject to a trading blackout that reflects the principles contained in Section 9 of National Policy 11-207, Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There have been no material business developments since the date of the last interim financial statements, filed on Nov. 28, 2019, except as disclosed by the company in issued news releases subsequent to Nov. 28, 2019, copies of which are available on SEDAR.