The share consolidation was approved at the December 2012 Annual General Meeting and was approved by Director’s Resolution in February 2013. The share structure will be altered by consolidating all of the 39,674,292 issued common shares into 7,934,858 common shares, five (5) common shares being consolidated into one (1) common share.

Upon effect of the consolidation the Company will convert $ 171,670 of debt into shares by issuing one common share for every $0.05 of debt. This will result in the issuance of 3,433,400 new common shares.

Also upon completion of the consolidation the Company will commence a private placement of up to 3,000,000 units at a price of $0.05 per unit. Each unit will consist of a common share only and no warrants will be issued in this placement. Total gross proceeds from this private placement will be up to $150,000.

The consolidation, private placement and debt settlement are all subject to the approval of the TSX Venture Exchange.

Blake Macdonald, Tom Adamson, John McClintock and Brandon Macdonald remain as directors following the AGM and Brandon Macdonald will take over Mr Hussein’s duties as CFO and Secretary. The AGM also saw the passing of a special resolution allowing the Board to execute a share consolidation of a ratio of up to 1 new share for ever 10 old shares. There are no immediate plans to execute the consolidation however the Board recognizes that the current share price and prevailing market conditions may force the matter.

In property related matters the Company has decided to drop the option on the Ford Lake uranium property in the Athabasca basin, Saskatchewan. In light of current, and likely ongoing, economic conditions Arcturus has decided to narrow focus rather than continue with option agreements which are not currently affordable.

It is with great sadness that the Company also reports the recent passing of advisor and friend Robert Stroshein. He will be remembered as excellent counsel to Arcturus in exploration matters, a hard-working geologist in the field and most importantly as a kind and thoughtful friend to management. The Company and all involved pass their sincerest and heartfelt condolences to his family.

The survey consisted of helicopter borne EM using the versatile time-domain electromagnetic (VTEMplus) system with Z and X component measurements and horizontal magnetic gradiometer using two cesium magnetometers. The intention of the survey, which consisted of 652 line kilometers flown in a combination 50m and 100m spacing, was to test conductive anomalies associated with graphite, or subtle conductive zones/halos associated with alterations within the sandstone column (above the unconformity) and at the unconformity. In addition, the survey was designed to map structural features, such as faulting, that could act as a conduit and control for mineralizing epithermal fluids.

The interpretation of magnetic data focuses on locating district scale faults. This requires the use of advanced derivative products, such as the First Vertical Derivative of the Reduced to the Magnetic Pole (RTP) and the Tilt-angle Derivative (TDR) of the RTP. Finally, the survey was planned to establish a relationship between the Shift Lake Uranium Zone (SLZ) and a northeast trending magnetic low which extends from the SLZ onto the southwest region of the Ford Lake Project. The Shift Lake Uranium Zone, lies only 500m east of the Ford Lake Project and consists of several drill holes which intersected anomalous uranium values and outlined a mineralized alteration zone of 775m. Forty eight holes (79-15 to 79-62), totaling 9,752.1 m (31,995.1 ft) were completed by Phelps Dodge Corporation of Canada Ltd. to test HLEM and pulse EM anomalies. Four of the holes intersected values greater than 0.10% U3O8 (0.08% U). At 189m, Union Carbide hole 79-17 intersected a 2.75 m (9.0 ft) interval which returned 0.62% U3O8 (0.53% U).

Interpretation led to the identification of the Ford Lake Zone, which lies within the larger northeast trending Brown Lake Fault Zone (BLFZ). Selection of this roughly 300m long by 50m wide target was based on RDI and MAG3D sections that show the subtle but clear resistivity lows (conductive halos) coinciding with the district scale fault running NNE direction across the zone. These resistivity lows may correspond to illite clay alterations above the unconformity. Immediately to the SE of the target zone is the Brown Lake. The conductive lake sediment is clearly visible as the top conductive layer south of the conductive halo over the target zone. Processing and Interpretation were carried out under the supervision of Alexander Prikhodko, P. Geo.

The Company is extremely pleased with the identification of this target which lies on the same magnetic trend (BLFZ) as the Shift Lake Uranium Zone and after further analyzing data will design further programs to investigate this highly prospective zone.

The content of this News Release has been reviewed by Robert Stroshein, P.Eng, who is a qualified person under the definition of National Instrument 43-101.