October 30, 2017 – Arctic Star Exploration Corp. (TSXV:ADD) (the “Company” or “Arctic Star”) announces that further to its previously announced private placement in its news release dated October 26, 2017, the Company has received conditional acceptance from the TSX Venture Exchange and is in the process of closing a first tranche of the private placement of up to $965,000.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
/s/ Patrick Power
Patrick Power, President
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 completion of further tranches of the planned private placement and the Company’s plan to use all or some portion of the proceeds for exploration of the Foriet Diamond Property. 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. Factors that could affect our plans include the possibility that we are unable to raise all of the funds we are seeking to raise, in which event we may require all funds raised, if any, to be used for working capital rather than for exploration of the Foriet Diamond Property; in addition, our acquisition of the Foriet Diamond Property has not yet been approved by the TSX Venture Exchange, and our proposed use of proceeds is subject to receipt of that approval. 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.