Arctic Fox Lithium Corp. — Capital/Financing Update 2021

Jan 25, 2021

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RECEIPT

Arctic Fox Ventures Inc.

This is the receipt of the British Columbia Securities Commission for the Preliminary Long Form Prospectus of the above Issuer dated January 22, 2021 (the preliminary prospectus).

This receipt also evidences that the Ontario Securities Commission has issued a receipt for the preliminary prospectus.

January 25, 2021

Allan Lim

Allan Lim, CPA, CA Manager, Corporate Finance

SEDAR Project Number 3163139

Tel: 604 899-6500 Fax: 604 899-6506 Toll Free: 1 800-373-6393 www.bcsc.bc.ca P.O. Box 10142, Pacific Centre, 701 West Georgia Street Vancouver, BC, Canada V7Y 1L2