Mr. Patrick Power reports

ARCTIC STAR ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS

Arctic Star Exploration Corp. has arranged a non-brokered private placement of up to 13.75 million units of the company at a price of two cents per unit for gross proceeds of up to $275,000.

Each unit will be composed of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant is exercisable to purchase one additional share for a period of 24 months from the closing date at an exercise price of eight cents per warrant share.

The company may pay a finder's fee on the offering within the maximum amount permitted by the policies of the TSX Venture Exchange. The company may complete multiple closings of the offering, as subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.

No insiders (as such term is defined under the policies of the TSX-V) or persons conducting investor relations activities are expected to participate in the offering.

Closing of the offering is subject to certain customary conditions, including, without limitation, approval of the TSX-V. The securities to be issued under the offering will be offered by way of private placement in such provinces or territories of Canada as may be determined by the company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the offering will be subject to a hold period, which will expire four months and one day from the date of closing of the offering.

Among other costs, the company will use the proceeds from the offering as follows: use of proceeds will be used for exploration expenses and general working capital.

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.