Arctic Star Announces Diamonds Recovered From The New Kimberlite Discoveries, Timantti Project, Finland, Business News

PUBLISHED ONApril 17, 2018 2:39 AM

VANCOUVER, British Columbia, April 17, 2018 /PRNewswire/ -- Arctic Star Exploration Corp. ("Arctic Star" or the "Company") (TSX-V: ADD, OTC: ASDZF, FRA: 82A1.F) 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 (Kg^1,2,3)	+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 microdiamond results from other kimberlites located elsewhere in Finland and recent discoveries Canada.

Table 2: Recent Microdiamond 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 Microdiamonds

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 particularly 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.

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.