Stream sediment samples recovered by the Yukon Geological Survey in drainages from the property show encouraging levels for Carlin-style gold deposit pathfinders. The geology on both the Hemingway Property and Arcturus’ adjacent Keele Property include the necessary limestone units, impermeable layers and faulting necessary for Carlin-style gold mineralization.

In consideration for the option Arcturus will issue 100,000 shares to the Vendor upon TSX approval and apply a minimum of one year’s worth of assessment work on the claims. To fully exercise the option for the Hemingway Property Arcturus will be required, in various stages, to make $375,000 in payments and issue an additional 750,000 shares to the Vendor in addition to performing $500,000 in work on the Property by April 1, 2016. Upon full exercising of the option the property will be subject to a 2.5% NSR including an Arcturus option to reduce it to a 2% NSR for a $1,000,000 cash payment. The Vendor will be entitled to a $50,000 annual Advanced Royalty Payment starting on April 1, 2018. The agreement is subject to TSX approval.

All of Arcturus’ work and disclosures on the company’s properties in Yukon are supervised and reviewed by Robert Stroshein, P.Eng, who is a qualified person under the definition of National Instrument 43-101.

Blake Macdonald, Arcturus’ President commented: “This acquisition allows the company to capitalize on the positive market attention the bidding war for Hathor by Cameco and Rio Tinto has brought back onto uranium and the Athabasca Basin. Arcturus is indeed very fortunate to have the opportunity to acquire this highly prospective property; quality land in the Athabasca Basin is extremely hard to come by in a region dominated by majors and well established mid-tier companies.”

Background

The Shift Lake Uranium Zone, which lies only 500m east of the Ford Lake Project, 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).

The Company will be testing the extent of the Shift Lake alteration system, which may trend onto the Ford lake Project.

Robert Stroshein, P.Eng, Arcturus’s qualified Person, has neither reviewed the drill hole data nor the core from the Shift Lake Uranium Zone. The work was completed by accredited professional geologists and the Company believes the information to be reliable.

The regional program on the Mer property was performed in June and July and consisted of drainage silt sampling and over 300 soil samples in a widely spaced grid. The two most anomalous samples showed evidence of gold mineralization as repeated tests on different sub-samples led to highly variable results. Arcturus intends to follow up on these areas and perform bulk sampling to minimize the so-called “nugget effect” and allow for a better identification of the true strength of these anomalies. The two samples were approximately 7.7 kilometres apart indicating that there could be multiple gold systems on the Mer property.

The results of this program have allowed the company to identify areas for detailed evaluation on a follow-up program. This program will consist of additional conventional soil sampling, bulk soil sampling, prospecting and geological mapping.

Analysis of the samples was carried out by AGAT Laboratories of Mississauga, Ontario, which has no relationship to the Company. Gold was analyzed by Aqua Regia Digest with ICP-MS finish and additional element content was determined by Aqua Regia Digest with ICP-OES finish.

This press release has been supervised by Robert Stroshein, P.Eng, who is a qualified person under the definition of National Instrument 43-101.

Three diamond drill holes were completed on the RB property for a total of 540 meters. Two significant foliaform sulphide-bearing horizons were intersected in drill hole RB11-01 that tested the JD showing. The JD horizon was intersected at a depth of nine meters, the upper 0.6 meters true width (TW) yielded assays of 0.314 ppm Gold, 2800 ppm Copper and 78.1 ppm Cobalt. A previously unidentified horizon was intersected at a depth of 67 meters that yielded 0.26 ppm Gold, 2835 ppm Copper, 2488 ppm Zinc and 46.6 ppm Cobalt over 1.1 meters TW that included 0.6 meters TW at 0.433 ppm Gold, 5840 ppm Copper, 1160 ppm zinc and 64.4 ppm Cobalt.

The JD horizon is hosted by the Fyre Lake Formation in the upper portion of the stratigraphy. The mineralization is similar in style, setting and metallogeny to the Fyre Lake Deposit that is located 12 kilometers south-east of the RB Property.

The remaining two holes on the RB property contained finely disseminated sulphides but did not intersect any significant metal values.

The 1st Base property had 2 holes drilled for a total of 240 meters. No significant mineralization was intersected in the drill holes.

Analysis of the samples was carried out by AGAT Laboratories of Mississauga, Ontario, which has no relationship to the Company. Gold was analyzed by Fire Assay with ICP-OES finish and base metals content was determined by Aqua Regia Digest with ICP-OES finish.

This press release has been supervised by Robert Stroshein, P.Eng, who is a qualified person under the definition of National Instrument 43-101.

The RB property has two showings (JD and DM) with disseminated copper bearing sulphides and gold within Fire Lake Formation volcanic rocks. The Company is aiming to demonstrate with the drilling that the two showings, 1.8 km apart, are part of a continuous sulphide-bearing horizon.

Past results from the showings on the property yielded 1.0% Copper and 0.16 g/t Gold at the DM showing and 0.65% Copper and 0.53 g/t Gold at JD. Soil samples taken on the property outline a broad horizon of anomalous copper (greater than 200 ppm) with strike lengths of 700m and 600m at JD and DM, respectively.

The Company expects drilling to last approximately 2 weeks with results available within a month of completion.

The RB property is located in the Finlayson Lake District of the Yukon Territory and has two copper bearing sulphide showings in the Fire Lake Formation volcanic rocks. Arcturus’ exploration work on the property has outlined a broad anomalous horizon and the Company believes the property is prospective for a substantial Copper-Gold VMS system.

“We are very happy to have been one of the chosen applicants in such a competitive process,” said Arcturus Vice-President Brandon Macdonald, “and pleased that the Yukon Government is as excited as we are about the potential of our RB property.”

Drilling on the RB property will commence in mid-June and will consist of an initial 4-hole 800m exploratory program to test the grade and extent of the copper and gold mineralization on the property.