Arctic Star Announces Application for a Management Cease Trade Order

(TheNewswire)

April 22, 2025 – Vancouver, BritishColumbia – TheNewswire - Arctic Star ExplorationCorp. (“ Arctic Star ” or the “ Company ”) wishes toannounce that its annual financial statements for the year endedDecember 31, 2024, including the related management discussion andanalysis, and CEO and CFO certifications (collectively, the“ Annual Filings ”) are not expected to be filed as required under Canadiansecurities legislation by the required filing deadline of April 30,2025 (the “ FilingDeadline ”).

The Company is working diligently with its accountingstaff and external auditors to file the Annual Filings as soon aspracticable; however, the Annual Filings are not expected to be filedbefore the Filing Deadline due to issues preparing the financialstatements for the Company’s wholly owned Finnish subsidiary, ForietOy. The Company will not be able to accurately prepare and file theRequired Filings until Foriet Oy’s audit can be completed and theCompany can consolidate the results of Foriet Oy. The Companycurrently expects to be able to file the Annual Filings on or beforeMay 30, 2025.

The Company has applied to the applicable Canadiansecurities regulatory authorities for a management cease trade orderrelated to the Company’s securities to be imposed against the ChiefExecutive Officer and Chief Financial Officer of the Company to tradesecurities of the Company. The Company will update the marketfollowing a decision on the cease trade order application.

About Arctic Star

Arctic Star is predominantly a diamond explorer,recently discovering 5 new kimberlites in the prolific Lac De Graskimberlite field that supports 2 multi-billion dollar kimberlitemining complexes. The Company also has a 958 Ha Exploration permitcontaining several diamond-bearing kimberlites on its Timanttiproject, Kuusamo Finland. The Company continues to look forappropriate diamond opportunities elsewhere.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.

“Patrick Power”

Patrick Power, President & CEO
+1 (604) 218-8772
ppower@arcticstar.ca

This news release contains"forward-looking statements" including but not limited tostatements with respect to Arctic Star’s plans and timing for filingthe Annual Filings. Forward-looking statements, while based onmanagement's best estimates and assumptions, are subject to risks anduncertainties that may cause actual results to be materially differentfrom those expressed or implied by such forward-looking statements,including but not limited to: risks related to filing the AnnualFilings. There can be no assurance that such statements will prove tobe accurate, as actual results and future events could differmaterially from those anticipated in such statements. Factors thatcould affect our plans include the possibility that the Annual Filingscontinue to be delayed.  Accordingly, readers should not place undue reliance on forward-lookingstatements. Arctic Star undertakes no obligation or responsibility toupdate forward-looking statements, except as required by law.

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

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