Arctic Hunter Announces Completion and Production of Second Heavy Oil Well, the (“C-11”) in Landrose, Saskatchewan

ARCTIC HUNTER URANIUM INC.

Suite 501 - 675 West Hastings Street · Vancouver · British Columbia · V6B 1N2 Telephone: (604) 681-3131 Facsimile: (604) 408-3884

NEWS RELEASE

October 21, 2010 CNSX-V Trading Symbol: AHU

______________________________________________________________________________________

ARCTIC HUNTER ANNOUNCES COMPLETION AND PRODUCTION OF SECOND HEAVY OIL WELL, THE (“C-11”) IN LANDROSE, SASKATCHEWAN

____________________________________________________________________________________

CALGARY, ALBERTA - Arctic Hunter Uranium Inc.. (CNSX: AHU) (“Arctic Hunter” or the “Company”) announces that it has completed and placed on production its previously announced well located at C11-6-50-25 W3M (“C-11”) (NR October 15 ,2010). The initial production rates from the newly completed C-11 test well, have met or exceeded initial production flow expectations. The Company will control the well production, at approximately 80 bbls/d in accordance with established good oil field practices. The C-11 well is offsetting the Company’s producing C12-6-50-25 W3M (“C- 12”) well, which is situated in Landrose, Saskatchewan. The C-12 well is currently producing at 80 bbls/d gross of heavy oil (72 bbls/d net before payout and 40 bbls/d net after payout). Combined production flow from the C-11 and C-12 wells is approximately 160 bbls/d gross of heavy oil (108 bbls/d net before payout, and 58 bbls/d net after payout to Alberta Star). All production from the C-11 well is from the McLaren formation.

In addition, the Company has completed drilling and casing of the heavy oil well situated at C14-6-50- 25 W3M (“C-14”) in Landrose, Saskatchewan. The C-14 well is expected to be completed and in production in the next few days. The C-14 is also being completed in the Mclaren formation. Initial Oil shows from the C-14 test well location, which also tests the McLaren formation, have been extremely encouraging.

Alberta Star holds a 50% working interest in the C-11 and C-14 wells which form part of the heavy oil assets acquired by Alberta Star on August 6, 2010 from Western Plains Petroleum Ltd. (“Western Plains”). Arctic Hunter Uranium Inc. (“Arctic Hunter”) under a (Participation Agreement (NR October 15, 2010) has agreed to pay 100% of Alberta Star’s share of the cost to drill, complete and equip or abandon the s C-11 and C-14 wells to earn a 100% (50% net) interest before payout, reserving to Alberta Star a convertible overriding royalty of 10% until payout. After payout, Alberta Star has the option to convert the gross overriding royalty to a 50% working interest (25% net) in the C-11 and C-14 well spacing units or remain in a gross overriding royalty position. Western Plains is the operator of the C-11 and C-14 wells.

The C-11and the C-14 wells form part of the Company’s previously announced in-fill drilling program located on section 6-50-25 W3M in Landrose, Saskatchewan. Drilling completion and equipping costs are expected to average $400,000 per well ($200,000 net to Arctic Hunter). The locations of the C-11 and C-14 wells are adjacent to the Company’s successful C12-06-50-25 W3M well which was drilled and completed in July 2010, and which is currently producing approximately 80 bbls/d gross of heavy oil (4 bbls/d net before payout and 20 bbls/d net after payout to the Company).

The Company also wishes to announce that Morgan Brewster has resigned as a director of the Company effective October 20, 2010. The Company would like to thank Mr. Brewster for his efforts on behalf of the Company.

ABOUT ARCTIC HUNTER

The Company is Canadian resource exploration and Development Company that is involved in the acquisition, exploration and development of oil and gas properties in Western Canada and mineral exploration projects in North America. The Company is an Alberta based, junior heavy oil producer. The Company is currently producing 160 bbls/d gross of heavy oil on its Landrose, Saskatchewan heavy oil property (58 bbls/d net after payout to the Company). The Company has a growing production base, and is maximizing future production through its exploration drilling activities. The Company has a 100% interest in a uranium prospect comprised of eight mineral claims of approximately 6,271 hectares, located near Lever Lake, Northwest Territories. The Company also intends to devote a portion of its corporate efforts to reviewing the assessment and acquisition of additional oil and gas exploration and precious metal properties and will consider any acquisition of good exploration properties if the opportunity to acquire properties of value and interest to the Company arises.

The Company maintains a strong balance sheet and has a qualified management team in field exploration, drilling and the necessary manpower to development its natural resource properties. The Company is committed to creating long term shareholder value through the acquisition, exploration and development of petroleum and natural gas resources to increase its oil production and reserves through its exploration activities and strategic property acquisitions and the discovery of base and precious metals and by seeking to acquire additional exploration, development and production resource projects.

INVESTOR RELATIONS

Investors are welcomed to contact Benjamin Curry of Progressive I.R. Consultants Corp. at (604) 689- 2881, the Company’s Investor Relations specialists for all corporate updates, and investor inquiries.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO Arctic Hunter Uranium Inc.

Tel: (604) 681-3131 Fax: (604) 408-3884

Neither the CNSX Venture Exchange nor its Market Regulator, (as the term is defined in the Policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.

The calculation of barrels of oil equivalent (“boe”) are based on a conversion rate of six thousand cubic feet (“mcf”) of natural gas to one barrel of crude oil. Boe’s may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf:1 bbl is base on energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Reader Advisory

Certain information in this Press Release is forward-looking within the meaning of certain securities legislation, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Arctic Hunters beliefs, plans, expectations, anticipations, estimates and intentions, including the licensing, completion and success of future drilling and development activities, the performance of existing wells, the performance of new wells, general economic conditions, availability of required equipment and services and prevailing commodity prices. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this Press Release describes Arctic Hunter’s expectations as of the date of this Press Release.

Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, commodity price and exchange rate fluctuations; reliance on contractual rights such as licenses and leases in the conduct of its business, reliance on third parties, reliance on key personnel, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, competition, environmental matters, and insurance or lack thereof.

Arctic Hunter cautions that the foregoing list of material factors is not exhaustive, is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on Arctic Hunter’s forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.