December 17, 2018 – Vancouver, British Columbia – Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) announces the resignation of Jared Lazerson a Director of the Company.
Mr. Lazerson has recently become CEO of Margaret Lake Diamonds (“Margaret Lake”). Margaret Lake and Arctic Star are 60/40 joint venture partners on the Diagras Diamond Project. Diagras is comprised of 22,595 hectares located in the prolific Lac de Gras diamond field proximate to the Diavik Diamond Mine in the Northwest Territories. The property is comprised of 20 known kimberlites.
“While we lose a Director we gain a partner on our Diagras Diamond Project, as Mr. Lazerson becomes CEO of our joint venture partner Margaret Lake Diamonds. With Margaret Lake as the operator of the joint venture, we look forward to continuing to work with Mr. Lazerson in the future,” stated Arctic Star CEO Patrick Power.
About Arctic Star
The Company owns a 100% interest in Timantti Diamond Project including a 243 Ha Exploration Permit and a 193,700 Ha Exploration Reservation near the town of Kuusamo, Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic Star is currently focussed on exploration at Timantti, where four diamondiferous kimberlite bodies have been discovered. The Company has interests in additional diamond exploration properties in northern Canada including Diagras (40% contributing), Redemption (100%), and Stein (Optioned to a JV) as well as the Cap rare metals project in British Columbia. Arctic Star has a world-class exploration team responsible for several world-class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power, President & CEO
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Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project transaction is a pre-eminent opportunity.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that the Timantti Project does not contain as much promise as expected or that despite promise, its minerals cannot be economically mined.
There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law.