Announces Grant of Stock Options
220 Bay Street TSX-V: ROX
Suite 550
Toronto, ON M5J 2W4 www.canstarresources.com
Announces Grant of Stock Options
Toronto, Ontario – (GlobeNewswire – October 14 , 20 20) - CANSTAR RESOURCES INC.
(TSXV:ROX) ( “Canstar” or the “Company”) announces that a total of 3,800,000 options to
purchase common shares of the Company are being granted to officers, directors , consultants
and employees at an exercise price of $0.28 per share, expiring on October 14, 2025. The grant
is subject to regulatory approval and vesting requirements.
About Canstar Resources Inc.
Canstar Resources is focused on creating shareholder value through the discovery and
development of economic mineral deposits in Newfoundland and Labrador, Canada. Canstar has
an option agreement to acquire a 100% interest in the Golden Baie Project in south -central
Newfoundland, a large claim package ( over 66,000 hectares) with recently discovered, multiple
outcropping gold occurrences on a major structural trend. The Company also holds the Buchans-
Mary March project and other mineral exploration properties in Newfoundland. Canstar
Resources is based in Toronto, Canada , and is listed on the TSX Venture Exchange under the
symbol ROX.
For further information, please contact:
Rob Bruggeman P.Eng., CFA
President & CEO
Email: [email protected]
Phone: 1-416-884-3556
www.canstarresources.com
Forward-Looking Statements
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.
This News Release in cludes certain "forward -looking statements" which are not comprised of historical facts.
Forwardlooking statements include estimates and statements that describe the Company’s future plans, objectives or
goals, including words to the effect that the Compan y or management expects a stated condition or result to occur.
Forwardlooking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based
on information currently available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward -looking information could
cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward looking information in this news release includes, but is not limited
to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the
estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations
and estimates of market conditions, as well as the anticipated size of the Offering, the Offering price, the anticipated
closing date and the completion of the Offering, the anticipated use of the net proceeds from the Offering and the
receipt of all necessary approvals. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to failure to i dentify mineral resources, failure to convert estimated mineral
resources to reserves, the inability to complete a feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in obtaining or failur es to obtain required governmental,
environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and
other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes
in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of
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projects, capital and operating costs varying significantly from estimates and the other risks involved in the m ineral
exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced
or at all, an inability to predict and counteract the effects of COVID -19 on the business of the Company, including but
not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and
international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, other than as required by law.