File: '\\swfile\EmailIn\20240917 133955 Attachment Arctic Star Exploration - News Release Announcing Extension Financing.docx'

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LEGAL_44890699.1

LEGAL_44890699.1

TSX-V: ADD

Frankfurt: 82A1

WKN: A2DFY5

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

Arctic Star Announces Extension of Non-Brokered Private Placement of Units

September 17, 2024 - Vancouver, British Columbia - Arctic Star Exploration Corp. ("Arctic Star" or the "Company") announces that further to its news release dated July 26, 2024, that the TSX Venture Exchange has granted the Company an extension from September 17, 2024 to September 27, 2024 to close its previously announced non-brokered private placement of units of the Company (the "Offering"). For additional information on the Offering, please refer to the Company's news release on July 26, 2024.

About Arctic Star

Arctic Star is predominantly a diamond explorer, recently discovering 5 new kimberlites in the prolific Lac De Gras kimberlite field that supports 2 multi-billion dollar kimberlite mining complexes. The Company also has a 958 Ha Exploration permit containing several diamond-bearing kimberlites on its Timantti project, Kuusamo Finland. The Company continues to look for appropriate diamond opportunities elsewhere.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARCTIC STAR EXPLORATION CORP.

"Patrick Power"

Patrick Power, President & CEO

+1 (604) 218-8772

ppower@arcticstar.ca

This news release contains "forward-looking statements" including but not limited to statements with respect to Arctic Star's plans and the Offering. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the completion of the Offering and receiving requisite regulatory approvals for the Offering. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could affect our plans include the possibility that we do not receive final TSX Venture Exchange approval for the Offering or we are unable to raise all of the funds we are seeking to raise. Our proposed use of proceeds is subject to receipt of TSX Venture Exchange approval. Accordingly, readers should not place undue reliance on forward-looking statements. Arctic Star undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.