Arctic Star Exploration : Corporate Presentation (March 2022)

TSX-V:ADD | FRA: A182.F

CORPORATE PRESENTATION

March 2022

CAUTIONARY STATEMENT ON FORWARD LOOKING

INFORMATION

These presentation materials ("the Presentation Materials") are being supplied to you for information purposes only on Arctic Star. (the "Company"). These Presentation Materials have been prepared by and are the sole responsibility of the Company. The Company have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge, information and belief. / These Presentation Materials are being distributed only to and are directed at (a) persons who have professional experience in matters relating to investments being investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the "FPO"), (b) high net worth companies, unincorporated associations and other bodies within the meaning of Article 49 of the FPO or (c) persons to whom it may otherwise lawfully be communicated (together "Relevant Persons"). Any person who is not a Relevant Person or who does not have professional experience in the matters relating to investments should not act or rely on this document or any of its contents. / These Presentation Materials do not constitute, or form part of, a prospectus relating to the Company, nor do they constitute or contain any invitation or offer to any person to underwrite, subscribe for, otherwise acquire, or dispose of any shares in the Company or advise persons to do so in any jurisdiction, nor shall it, or any part of it, form the basis of or be relied on in any connection with any contract. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this document or on its completeness and no liability whatsoever is accepted for any loss howsoever arising from any use of this document or its contents otherwise in connection therewith. Prospective investors are encouraged to obtain separate and independent verification of information and opinions contained in the Presentation Materials as part of their own due diligence. / By accepting these Presentation Materials, the Recipient agrees that the information contained herein or sent herewith or made available is for information purposes only. Without prejudice to the foregoing, neither the Company, nor its advisers nor its representatives accept liability whatsoever for any loss howsoever arising, directly or indirectly, from use of this document or its contents or otherwise arising in connection therewith. / The distribution of these Presentation Materials in certain jurisdictions may be restricted by law and persons into whose possession these Presentation Materials come should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdictions. / Some statements contained in these Presentation Materials or in documents referred to therein are or may be forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors. Past performance of the Company or its shares cannot be relied on as a guide to future performance. Any forward-looking information contained in these Presentation Materials has been prepared on the basis of a number of assumptions which may prove to be incorrect, and accordingly, actual results may vary.

Qualified Person:

The Person responsible for the technical aspects of this presentation is Buddy Doyle, Member AUSIMM Geologist with 40 years experience, 13 years as manager of Rio Tinto PLC North American Diamond exploration, cowinner of the Hugo Dummett award for excellence in diamond exploration 2005.

2

ARCTIC STAR EXPLORATION CORP.

ARCTIC STAR EXPLORATION CORP. Established in 2001 and has been pre-dominantly focused on diamond exploration since.

The Company Currently has Three Projects:

The Flagship Property: DIAGRAS project in the Lac de Gras district, (Canada's premier diamond

production area) of the Northwest Territories. This is a Joint Venture, 81.5% Arctic Star, 18.5% Margaret Lake Diamonds Inc.

TIMANTI project near the town of Kuusamo Finland. The company has identified a new diamondiferous kimberlite field.

STEIN: A joint venture with GGL Resources Corp. where they may earn 60% by drilling the first kimberlite. Currently 100% Arctic Star in Nunavut.

Arctic Star has an Experienced Diamond Mine Finding Team at the Helm.

Buddy Doyle: The leader of the team who discovered Diavik, now a major world class diamond mine. Over 40 years of experience in diamond exploration.

David Kelsch: On the Diavik team who discovered the A418 kimberlite at Diavik. Over 30 years of experience in diamond exploration.

3

DIAMONDS ARE BACK

Rough diamond prices are at all time historic highs!

Peak diamond production was in 2017 @ 156 million carats of rough.

Now at 110 million carats of production.

$15 billion at peak now at $11 billion.

Source: Bain and Co.

4

DIAMONDS RECENT HISTORY

Like many commodities, diamond sales suffered due to the global Covid lock-downs. During this time there were a number of bankruptcies, Dominion, Stornoway, and Firestone.

This time has passed and diamond producer stocks are rebounding.

5