Toronto, Ontario – TheNewswire – February 9, 2021 – CANSTAR RESOURCES INC. (TSXV: ROX) & (OTC: CSRNF) (“Canstar ”or the“ Company”) is pleased to announce that Dawn Evans-Lamswood, M.Sc., P.Geo, through her consulting firm DEL Exploration based in St. John’s, Newfoundland, has been appointed Vice President Exploration. In addition, the company is pleased to announce that Dr. Laurence (Laurie) Curtis has agreed to join the company as a technical consultant.
Dr. Curtis brings over 40 years of experience in the mining industry and capital markets with a proven track record of business development, mine development and project finance. He was the founder of Intrepid Minerals and a key member of the senior management and technical teams that oversaw all aspects from discovery to operations. Under his guidance as CEO and COO, Intrepid merged and acquired to become a gold producer and developer, eventually reaching a market capitalization of over $ 1.2 billion. During his career as an exploration geologist, Dr. Curtis was involved in a number of worldwide discoveries, including the first discovery and staking of the Back River gold belt, which is now the 5 million ounce gold deposit of Sabina Gold & Silver Corp. is located. and led teams to discover multiple epithermal systems in the Caribbean Basin. Dr. Curtis has also held various positions in the financial sector, including research and mining analyst for Clarus Securities, vice president and senior analyst Global Resources for Dundee Capital Markets.
Rob Bruggeman, Canstar President & CEO, commented, “Canstar’s Golden Baie project is a very large loss package with numerous exploration targets along a large gold bearing structure. The challenge for our exploration team is to crack the code of where to find the highest levels of gold mineralization over the best latitudes, and do it in a cost-effective manner. Today’s announcements build our technical team significantly. Our technical committee now consists of Dr. David Palmer (Director), Dr. Lawrence Winter (technical advisor) and Dr. Laurie Curtis. That is an impressive list of vast experience geologists that we can use. “
Mr. Bruggeman continued, “I am also delighted that Dawn has joined Canstar to lead the Newfoundland-based exploration team. Their understanding of structural geology and their methodological approach to exploration fit well with our Golden Baie project. With Dawn’s knowledge and guidance from the technical committee, we are excited to return to Golden Baie in the spring to prioritize the targets for the first drill program on the property in a decade. “
Canstar has granted exploration team employees and consultants a total of 1,200,000 options to purchase common stock of the company at an exercise price of $ 0.28 per share, expiring on February 8, 2026. The grant is subject to regulatory approval and exercise requirements.
About Canstar Resources Inc.
Canstar is focused on the discovery and development of economic mineral resources in Newfoundland and Labrador, Canada. Canstar has the option to acquire a 100% interest in the Golden Baie Project, a major loss package (over 62,175 hectares) of recently discovered multiple occurrences of gold due to an important structural trend in south-central Newfoundland. The company also owns the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is headquartered in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.
For more information please contact:
Rob Bruggeman P.Eng., CFA
President and CEO
Phone: 1-416-884-3556
Forward-Looking Statements
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This press release contains certain “forward-looking statements” that are not historical facts. Forward-looking statements include estimates and statements that describe the company’s future plans, goals, or objectives, including words that indicate that the company or management expects a certain condition or result to occur. Forward-looking statements may be identified by terms such as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will,” or “plans”. Since forward-looking statements are based on assumptions and take future events and conditions into account, they are inherently associated with risks and uncertainties. Although these statements are based on information currently available to the company, the company cannot guarantee that actual results will meet management’s expectations. Risks, uncertainties and other factors associated with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied in such forward-looking information. Forward-looking information in this press release includes, but is not limited to, the Company’s goals, objectives, or future plans, statements, exploration results, potential mineralization, mineral resource estimates, exploration and mine development plans, and timing of start-ups and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, non-conversion of estimated mineral resources to reserves, and the inability to conduct a feasibility study to recommend a production decision. the preliminary nature of metallurgical test results, delays in obtaining or failing to obtain required regulatory, environmental or other project approvals, political risks, inability to meet the obligation to accommodate First Nations and other indigenous peoples, uncertainties about the availability and cost of funding required in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in project development, capital and operating costs that differ materially from estimates and other risks in the mineral exploration and development industry; an inability to predict and counteract the impact of COVID-19 on the company’s business, including, but not limited to, the impact of COVID-19 on commodity prices, capital market conditions, restrictions on labor and international travel and supply chains as well as those filed in the company’s public documents at SEDAR. While the company believes that the assumptions and factors used in preparing the forward-looking information in this press release are appropriate, undue reliance should not be placed on such information, which speaks only as of the date of this press release, and can No assurance can be given that such events will occur in the timeframe disclosed or at all. The company disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, future events or for reasons other than as required by law.
