Toronto, Ontario – TheNewswire – April 26, 2021 – CANSTAR RESOURCES INC. (TSXV: ROX) & ((OTC: CSRNF) (“Canstar ”or the“ Company”) is pleased to announce that Neil Burns and James Clare have been appointed to the company’s Board of Directors. The director Patrick Reid has resigned from the board with immediate effect. The company thanks Mr. Reid for his many years of dedicated work as director for the company.
Neil Burns is a geologist with over 25 years of extensive international experience in exploration, mining and resource appraisal. He is currently Vice President of Technical Services at Wheaton Precious Metals, where he is responsible for the technical review of potential funding opportunities for precious metals streams. He has been with Wheaton since 2008, and prior to Wheaton, Mr. Burns held numerous positions with mining and consulting firms. Neil holds a master’s degree in mineral exploration from Queen’s University and is a registered professional geologist with engineers and geoscientists in British Columbia. Mr. Burns is also a member of the Board of Directors of the BC Cancer Foundation and Au Gold Corp.
James Clare is a partner at Bennett Jones LLP, a leading Canadian law firm. Mr. Clare practices in commercial and securities law with a focus on corporate finance and mergers and acquisitions with an emphasis on the mining sector. His transactional experience includes domestic and cross-border public and private corporate finance transactions for issuers and subscribers, as well as merger and acquisition transactions. Mr. Clare is also a member of the Board of Directors of SolGold plc, PJX Resources Inc. and Riverside Resources Inc.
Dennis Peterson, Chairman of the Company, commented, “We welcome Neil and James to the Board of Directors. Our goal is to grow Canstar through mineral discovery and new project acquisitions. Your knowledge and experience will be extremely valuable in implementing this strategy. We also thank Patrick Reid for his dedication as director of Canstar over the past two decades. “
Canstar has granted directors a total of 800,000 options to purchase common stock in the company at an exercise price of $ 0.28 per share, expiring April 26, 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 further information please contact:
Rob Bruggeman P.Eng., CFA
President and CEO
Phone: 1-416-884-3556
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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 relate to future events and conditions, 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 operations 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 foreign 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 price, capital market conditions, restriction of 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 required by law.
