Vancouver, April 16, 2018 - Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) ("Arctic Star" or the "Company") is pleased to announce that it has received diamond results from caustic fusion analyses on the recent kimberlite discoveries within the 100% owned Timantti Diamond Project in Finland (the "Project"), namely the Grey Wolf kimberlite and the Vasa Dykes. Both kimberlitic bodies were discovered by excavator, and these first results are from samples within the discovery pits. In addition, the Company is awaiting caustic fusion analyses results from its diamond drill program.
The results are shown in Table 1, together with the previous caustic fusion results reported by Arctic Star as per the July 26, 2017 news release. The White Wolf and Grey Wolf results are also shown as a combined total as the 2 kimberlitic bodies occur in close proximity.
Table 1: Caustic Fusion Results Timantti Project
| Kimberlite | Sample
Weight (Kg1,2,3) | +0.106
mm | +0.15
mm | +0.212
mm | +0.3
mm | +0.425
mm | +.60
mm | +.85
mm | +1.18
mm | Total
Stones |
| Grey Wolf | 99.98 | 28 | 18 | 20 | 8 | 1 | 2 | 0 | 1 | 76 |
| Vasa Dykes | 25.74 | 1 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 11 |
| White Wolf | 67.55 | 70 | 61 | 24 | 15 | 3 | 5 | 0 | 1 | 169 |
| Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 245 |
Notes:
1. Samples processed at Microlithics Laboratories Inc., of Thunder Bay, ON ("Microlithics"). Microlithics is independent of the issuer
2. Dry weights
3. The samples followed a chain of custody and were received sealed at the laboratory
4. Diamond results as per CIM guidelines
In general, diamondiferous kimberlites show an exponential relationship between the size and frequency of small diamonds and larger diamonds. Microdiamond counts can thus be used as a semi-quantitative, predictive guide to diamond grade. The higher the diamond count and the more larger diamonds present in a sample, the higher the expected grades for a particular kimberlite. The accuracy and reliability of this grade estimation method increases with the size (weight) of the sample and the numbers of stones.
Arctic Star's goal at this early stage of the evaluation of the Timantti kimberlites is to gather and process enough caustic fusion sample to give guidance on the grade of each discovery.
For comparison purposes and to understand the significance of these discoveries, the Company has compiled published caustic fusion micro-diamond results from other kimberlites located elsewhere in Finland and recent discoveries Canada.
Table 2: Recent Micro-Diamond Results Comparison
| Kimberlite | Sample
Weight (Kg) | +0.106
mm | +0.15
mm | +0.212
mm | +0.3
mm | +0.425
mm | +.60
mm | +.85
mm | +1.18
mm | +1.70 mm | Total Stones |
| Rabbits Foot1 | 99.75 | 81 | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 156 |
| Pikoo (150)2 | 582 | 618 | 348 | 150 | 82 | 45 | 32 | 29 | 2 | 2 | 11 |
| Seitapeira3 | 100.2 | 28 | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 |
| No. 21 Kimberlite4 | 287 | - | 87 | 55 | 29 | 10 | 4 | 0 | 0 | 0 | 185 |
| Lahtojoki5 | 1771.17 | - | 410 | 326 | 208 | 102 | 27 | 13 | 7 | 1 | 1096 |
| Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 0 | 245 |
Sources:
1. Rio Tinto Diamonds Exploration Ltd. Assessment Report 2015 Oskabukuta Property near White River, Ontario. Rio Tinto Thunder Bay laboratories
2. North Arrow Minerals website. Saskatchewan Pikoo kimberlite discoveries
3. A kimberlite near Kuhmo, Finland, Karelian Diamond July 2008 NR, Lakefield Laboratories
4. Nordic Diamonds News Release 2002, Koupio Kaavi Kimberlite Field Finland
5. European Diamonds 2004 Koupio Kaavi Kimberlite Field Finland
Table 3: Comparison Caustic Fusion Results Normalize to 100kg Including Ratio of Larger Macro to Smaller Micro Diamonds
| Kimberlite | +0.15
mm | +0.212
mm | +0.3
mm | +0.425
mm | +.60
mm | +.85
mm | +1.18
mm | +1.70
mm | St/100kg | Ratio >.6/>.425mm |
| Rabbits Foot | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 75 | 0.01 |
| Pikoo (150) | 60 | 26 | 14 | 1 | 5 | 5 | 0.3 | 0.3 | 111 | 0.1 |
| Seitapeira | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 | - |
| No. 21 Kimberlite | 30 | 19 | 10 | 3 | 1 | 0 | 0 | 0 | 63 | 0.01 |
| Lahtojoki | 23 | 18 | 12 | 5.7 | 1.5 | 0.73 | 0.39 | 0.056 | 62 | 0.045 |
| Total Wolves | 47 | 26 | 14 | 2 | 4.2 | 0 | 1.19 | 0 | 94 | 0.06 |
Note: To date about 30 kimberlites have been discovered in the country of Finland by previous workers, from three main kimberlite fields, Lenturia, Kuhmo and Koupio Kaavi, most discoveries where from the Koupio Kaavi field near Outokumpo, 250km to the SW of Kuusamo where more than 20 separate bodies were found, the most diamondiferous examples from this field are Lahtojoki and 21# shown in table 2 and 3. A result from another field around the town of Kumho is shown from the Seitapeira Kimberlite, 200km to the south of Kuusamo.
Buddy Doyle, VP of Exploration stated, "We are greatly encouraged by the results, to date. So far every kimberlite we have discovered on the Timantti property has proven to be diamondiferous. We are particular pleased by the results from the Wolves, as demonstrated from table 3, these are the best diamond results to date ever reported from Finland, at least at this initial discovery phase. We look forward to adding to this as the diamond results from our drilling become available."
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years' experience in diamond exploration, discovery and evaluation.
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 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first discoveries 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 several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF Arctic Star Exploration Corp.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
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.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The diamond results reported here are first pass exploration results and although they encourage further study they do not constitute an "economic" discovery at this time. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
