Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES PRIVATE PLACEMENT

Arctic Star Exploration Corp. has arranged a non-brokered private placement of up to 26 million units at a price of 2.5 cents per unit, for gross proceeds of up to $650,000. Each unit will be composed of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional share in the capital of the company for a period of 24 months from the closing date at an exercise price of five cents. Insiders may participate in the private placement. Finders' fees or brokers' commissions may be paid in accordance with TSX Venture Exchange (TSX-V) policies. All securities will be subject to a four-month hold period from the closing date. The private placement is subject to TSX-V approval.

The company intends to use the proceeds from the private placement for development of the company's Finland project and for general working capital.

We seek Safe Harbor.