Vancouver, November 30, 2017 - Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) ("Arctic Star" or the "Company") is pleased to report that the Company has been assigned the Legal Entity Identifier ("LEI") number 529900OSM9TE7UUX2X19. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at pinpointing systemic risks.
About the Legal Entity Identifier (LEI)
The Legal Entity Identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (e.g., companies, banks, and investment funds). It is used to comply with a variety of financial reporting requirements. The Deutsche Borse Group has stated that "the LEI will clearly assist the regulatory authorities in monitoring and analysing threats to the stability of the financial markets, (but) it can also be utilised by counterparties internally for risk management purposes."
Arctic meets the requirement for all companies listed on German Stock Exchanges (ie. Frankfurt Stock Exchange) to have an LEI number by January 3, 2018.
According to the website of the Deutsche Bӧrse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices. (See http://deutsche-boerse.com/dbg-en/regulation/regulatorytopics/legal-entity-identifier).
ABOUT ARCTIC STAR: The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The Project is located approximately 450km NW of the operating Grib Diamond Mine in Russia. Arctic is commencing its exploration in Finland on the Timantti Project, where two diamondiferous kimberlites may represent the first finds in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap). Arctic Star has a highly experienced diamond exploration team previously responsible for numerous world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
/s/ Patrick Power
Patrick Power, Executive Chairman
+1 (604) 218-8772
/s/ Scott Eldridge
Scott Eldridge, President and CEO
+1 (604) 722-5381
scott@arcticstar.ca
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.
