September 8th, 2016 – Arctic Star Exploration Corp, (“Arctic Star” or the “Company”) (TSXv-ADD) announces that it has been informed by North Arrow Resources (TSXv-NAR), the Optionee to the Redemption Diamond Exploration property in the Lac De Gras area NT, that it has elected not to complete the option. The property therefore reverts back to Arctic Star 100%.
Arctic Star wishes to take this opportunity to thank North Arrow for its professional and extensive work over the last three years where they spent approx. $4 million concentrating on drill testing numerous geophysical anomalies.
The source of the diamond indicator trains in the area remains illusive. Arctic will wait to receive all the materials from North Arrow before deciding on any further exploration.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Forward Looking Statements:
This news release contains “forward-looking statements” including but not limited to statements with respect to Arctic Star’s plans, the estimation of a mineral resource and the success of exploration activities. 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 successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although Arctic Star has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. 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.