Canstar Trenching Reveals up to 5% Copper, +30% Zinc in Early Bedrock Spot Analysis, Reveals Semi-Massive Sulphide in Footwall Mineralization
Canstar Trenching Reveals up to 5% Copper, +30% Zinc in Early
Bedrock Spot Analysis, Reveals Semi-Massive Sulphide in
Footwall Mineralization
Toronto, ON – October 16, 2025 – Canstar Resources Inc. (TSX-V: ROX) (“Canstar” or the
“Company”) reports that the 2025 trenching program at Canstar’s Mary March project,
located in Newfoundland’s historic Buchans Mining District, has advanced to the final
stages. Trenching exposed more than 20 metres of footwall mineralization, containing thin
lenses of high-grade base metal mineralization in bedrock. Identification of copper-,
lead- and zinc-rich zones is encouraging as they potentially represent the up-dip extension
of mineralization first identified in 1999/2000 in drill hole MM-294-03, extending it 130
metres to the surface and 80 metres to the northeast. This discovery further confirms the
project’s potential to host very high-grade volcanogenic massive sulphide (“VMS”)
mineralization.
Highlights
• Bedrock samples from two trenches4, 125m apart, exposed a strongly mineralized
zone containing semi-massive pyrite-sphalerite-galena-chalcopyrite lenses. The
presence of these sulphide minerals has been confirmed by various portable X-
ray fluorescence device (“pXRF”) spot analyses, which returned maximum yields
up to +30% zinc, 3% lead and 4% copper.1 Analysis of one sample providing
readings ranging from 16.9% to 31.57% zinc and 0.17% to 3.08% lead. A separate
sample had readings ranging from 0.81% to 4.28% copper.
• High-grade lenses, containing pyrite-sphalerite-galena-chalcopyrite stringers, occur
in a zone of lower-grade footwall mineralization, at least 20 m thick.
• This style of mineralization closely resembles mineralization intercepted in drill hole
MM-294-03, which intercepted 20.6 m grading 3.02% zinc and 1.08% lead.
• The trenching program produced 130 samples in total, sent for whole rock
geochemistry and assaying, the results of which the Company will release when
available.
• This prospect is located 590m west of the Mary March intercept (9.63 metres
grading 4.2 g/t gold, 122 g/t silver, 10.1% zinc, 1.8% lead, and 0.64% copper2) and is
believed to be part of the same mineralizing system.
• Mineralized zones occur in proximity to newly mapped chargeability anomalies,
strengthening confidence in chargeability surveys for defining drill targets.
• The Mary March project, located in the historic Buchans district, remains one of
the least explored parts of one of the world’s highest-grade VMS camps.
• Detailed mapping and re-logging of historic drill holes are currently ongoing; results
will be used in geological modelling and data integration by Terra AI.
• The results of this season’s programs will be used to refine drill targets for
exploration drilling expected to commence at the beginning of the 2026
exploration season.
“Our trenching results reinforce why we are so excited about Mary March, ” said Juan
Carlos Girón Jr., President & CEO of Canstar Resources. “We know from historical work
that this district has hosted some of the highest-grade VMS deposits globally, and these
new exposures provide further, direct evidence of high-grade mineralization in new areas.
They also coincide with recently defined geophysical anomalies, illustrating how our
geology-first, data-driven approach, led by Dr. Harold Gibson, is steadily converging
toward high-confidence drill targets. We’re very pleased with the quality of the work and
continue building momentum across our Newfoundland exploration portfolio. ”
Program Update
The Company is trenching and conducting geological mapping across priority targets to
better characterize surface mineralization and structure. All historic drilling on the project
has now been digitized and spatially verified, providing a robust foundation for the
construction of a geological model. A detailed graphic relogging and geochemistry
program is ongoing to develop a thorough understanding of the volcanic stratigraphy,
alteration, mineralization and structural deformation of the area. This dataset will be used
with Terra AI’s machine-learning platform to refine target generation ahead of drilling.
Canstar’s technical team analyzed the trenching samples in the field with a pXRF device to
obtain preliminary geological observations, project analysis, and vectoring. These readings
are preliminary and selective, measuring only a tiny fraction of the most mineralized
portions of hand samples. Assay results from accredited laboratories will be reported when
available.1
Project Context
The Buchans mining district produced five major deposits between the 1920s and 1980s3
with average ore grades of 14.51% zinc, 7.56% lead, 1.33% copper, 126 g/t silver, and 1.37
g/t gold – exceeding 20% combined base metals. These deposits also produced over 60
million oz of silver and more than 700,000 oz of gold. Mary March, situated in an
underexplored sector of this prolific belt, continues to demonstrate potential for similar
high-grade, polymetallic mineralization.
Next Steps
Canstar has almost completed mapping and channel sampling of the mineralized trenches
and intends to ship the final samples for assay within the week. The Company plans to
integrate all new and historical data into its 3-D model and finalize drill targeting in
collaboration with Terra AI. Pending results, the Company anticipates a first-phase drill
program during the 2026 exploration season, subject to additional permitting and
conditions.
Acquisition of Newfoundland Mining Claims
The Company has entered into option agreements dated September 25, 2025 (the “Option
Agreements”) with certain arm’s length parties (each, an “Optionor”) to acquire an
undivided 100% legal and beneficial interest in certain mineral licenses located in
Newfoundland and Labrador, Canada.
The new acquisitions expand Canstar’s land position in the Mary March area of the
Buchans District, Central Newfoundland, one of Canada’s most prolific volcanogenic
massive sulphide (“VMS”) camps. These licenses directly adjoin the Mary March project,
a polymetallic VMS target prospective for copper, zinc, lead, gold, and silver, and extend
Canstar’s footprint over areas of strong geophysical anomalism, including part of a ~1.2
km IP chargeability trend recently identified and being trenched by the Company.
The additions increase Canstar’s strategic control of highly prospective ground within
the Buchans VMS corridor, strengthening its district-scale position and aligning with the
Company’s strategy to consolidate and systematically explore key VMS belts in
Newfoundland. The newly acquired claims are geologically analogous to those hosting
significant historical mineralization within the camp, including the nearby Mary March and
Buchans deposits.
Under the terms of the agreements:
Canstar has been granted an option to acquire a 100% undivided interest in mineral
licenses 037025M, 038219M, 038658M, and 038582M, comprising a total of twenty-nine
(29) mineral claims located in Newfoundland and Labrador.
To maintain the option in good standing, Canstar will make aggregate payments of $71,000
in cash and issue 350,000 common shares of the Company over a three-year period. Upon
exercise of the option, each Optionor will retain a 2.0% net smelter returns (“NSR”) royalty
on their respective license, one-half (1.0%) of which may be repurchased by the Company
for $1,000,000.
All securities issued pursuant to the Option Agreements will be subject to a statutory hold
period of four months and one day from the date of issuance. The transactions remain
subject to TSX Venture Exchange approval.
Qualified Person
Bob Patey, P. G e o, VP Exploration for Canstar and a Qualified Person as defined in NI 43-
101, has reviewed and approved the scientific and technical information in this news
release.
Acknowledgement
Canstar acknowledges the financial support of the Junior Exploration Assistance (“JEA”)
Program from the Government of Newfoundland and Labrador Department of Industry,
Energy and Technology, which has been a valuable contribution to the exploration
programs on the Company’s Buchans-Mary March and Golden Baie projects.
About Canstar Resources Inc.
Canstar Resources Inc. (TSXV: ROX) is an exploration company focused on critical minerals
and gold. The Company’s 100%-owned Golden Baie Project (489.5 km2) hosts high-grade
gold and antimony showings along a major mineralized structure that also hosts a large
number of gold deposits. The Buchans and Mary March projects (122.5 km2) are located
within the world-class, past-producing VMS zinc-, copper-, and silver-rich Buchans Mining
Camp and boast high-grade zinc and copper discoveries.
For further information, please contact:
Juan Carlos Giron, Jr.
President & Chief Executive Officer
Email: [email protected]
Phone: (647) 557-3442
Website: www.canstarresources.com
Notes
1. pXRF readings are screening-level only and are not a substitute for assaying. The pXRF model used is a V2MR
Vanta Max from Evident Scientific, calibrated at the factory and monitored for accuracy using three certified
reference materials.
2. Reported by Phelps Dodge in 1999 : 9.63 metres grading 4.2 g/t gold, 122 g/t silver, 10.1% zinc, 1.8% lead, and
0.64% copper
3. Historical production source: Zinc and Lead, Mineral Commodities of Newfoundland and Labrador, Geological
Survey of Newfoundland and Labrador, Compiled by R.J. Wardle, 2008
4. Trench MM25 -TR-05 534,221m E 5,408,899m N azimuth 135, Trench MM25- TR-06 533,984m E 5,408,671m N
Azimuth 140. Coordinates are in NAD 27, Zone 21 N
Neither 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 release.
Forward-Looking Statements
This news release contains “forward-looking statements” that are not historical facts.
Forward-looking statements relate to future events or performance and include, but are not
limited to: the objectives, scope, and anticipated benefits of the $11.5 million joint venture
with VMSC; expectations that geological mapping, relogging, LiDAR surveys, and
geophysical modelling will identify and refine VMS drill targets; planned trenching, drilling,
and other exploration activities; interpretations of geological similarities to the historic
Buchans deposits; and the expected completion of a revised geological model and
definitive joint venture agreements.
Such statements are based on current assumptions and subject to known and unknown
risks and uncertainties that may cause actual results to differ materially, including: failure
to complete the definitive JV agreement; geological interpretations proving inaccurate;
exploration activities not yielding expected results; delays or inability to commence
planned programs; permitting or logistical challenges; and general exploration, market,
and commodity price risks. Additional risks are described in the Company’s public filings
on SEDAR+.
The Company does not guarantee that forward-looking statements will prove accurate, and
actual results may differ materially. Forward-looking information is provided as of the date
of this news release, and the Company undertakes no obligation to update or revise it
except as required by law.