Artek Exploration Ltd. announce that, in connection with its previously announced offering of common shares (Common Shares) and common shares on a flow-through basis (Flow-Through Common Shares), the Corporation and the syndicate of underwriters led by Cormark Securities Inc. and including Peters & Co. Ltd., National Bank Financial Inc., Stifel Nicolaus Canada Inc., Clarus Securities Inc., GMP Securities L.P., FirstEnergy Capital Corp. and Macquarie Capital Markets Canada Ltd. (collectively, the "Underwriters"), have agreed to increase the size of the offering to an aggregate of 2,150,000 Flow-Through Common Shares at a price of $4.20 per Flow-Through Common Share.

The size of the previously announced offering of Common Shares at a price of $3.45 per Common Share remains unchanged at 8,700,000 Common Shares. Aggregate gross proceeds of the offering will now be $39.0 million.

Proceeds of the offering will initially be used to reduce bank indebtedness thereby freeing up additional borrowing capacity to fund a portion of the Corporation's ongoing capital program with the Flow-Through Common Share proceeds used to incur eligible Canadian exploration expenditures that will be renounced to subscribers effective on or before December 31, 2013.

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