Mar 21st, 2022 Vancouver, British Columbia – Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) (TSXV: ADD) (Frankfurt: 82A2) (WKN: A2DFY5) (OTC: ASDZF) is pleased to announce that field crews are mobilizing to the Diagras diamond project Northwest Territories. The first work to commence is the phase 2, airborne, “Resolve” survey, flown by Xcalibur, designed to cover the entire, 48,346 ha property with a 75m line-spaced survey. The phase 1 survey was successful in generating over a dozen high-priority kimberlite-like geophysical signatures, that, based on public domain records have never seen exploration activity in the past. Arctic Star anticipates a similar amount of targets will be generated in phase 2.
Zimtu will be hosting a Zoom meeting discussing the upcoming drill program this Wednesday Mar 23 at 10am PDT, Investors are encouraged to ask questions. You may register for the meeting through the homepage on our website www.arcticstar.ca or with this link http://bit.ly/ASEWebinar.
Quickly following the airborne geophysical survey ground geophysical crews from Aurora Geosciences, Yellowknife, will commence follow-up the airborne targets in preparation for drill testing.
A drill rig will mobilize concurrently with the ground crew.
The Diagras project is a joint venture between Arctic Star Exploration Corp. (81.5%) and Margaret Lake Diamonds Inc. (18.5%) with Margaret lake electing to participate.
Mr. Buddy Doyle VP Exploration commented, “We begin this exploration program with high anticipation of success in a global environment where there are record rough diamond prices and declining supply. We are one of the few junior diamond exploration companies with recent exploration success, with a portfolio of diamond-bearing kimberlites in two projects, Diagras and our Timanti project in Finland. What will a successful spring exploration program look like? The discovery of one or more new diamond-bearing kimberlites! Continuing evaluation of the Sequioa kimberlite complex, our major discovery from 2021, should map out the different kimberlite types, and give us the first view of the size and tonnes of the complex. The diamond counts from sampling the complex will give a view of the grade distribution and guide bulk sampling planned for 2023.”
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist with over 35 years of experience in diamond exploration, discovery, and evaluation. A Qualified Person under the provisions of the National Instrument 43-101.
About Arctic Star
Arctic Star is predominantly a diamond explorer, recently discovering 5 new kimberlites in the prolific Lac De Gras kimberlite field that supports 2 multi-billion dollar kimberlite mining complexes. The company also has a 958Ha Exploration permit containing several diamond-bearing kimberlites on its Timantti project, Kuusamo Finland. Arctic Star has optioned its Stein diamond project in Nunavut to GGL diamonds who plan work once Covid restrictions lift. The company continues to look for appropriate diamond opportunities elsewhere.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power, President & CEO
+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) accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
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. In this release it is not certain if the kimberlite discovered will be economic or not as this depends on many factors. 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. 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 our potential inability to raise funds as intended, and in such event we may require all funds raised, if any, to be used for working capital rather than the intended uses as outlined. 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.