ROX:CC - Canstar Announces Final 2021 Field Work Results Commences 2022 Field Season at Golden Baie Project in Newfoundland

(TheNewswire)

Four New Gold Targets Identified in2021

13.1 g/t Au over 1.0 m in ChannelSample and 35.5 g/t Au in Grab Sample at 97 West Target

2022 Fully-funded Exploration Programis Largest Ever on Project

Toronto, Ontario – TheNewswire - June 7, 2022– CANSTAR RESOURCES INC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce final 2021exploration results and the commencement of the 2022 field season onits Golden Baie and Hermitage properties in south-centralNewfoundland.  Highlights of the 2021 field program on Golden Baieare provided below.

• Multiple new gold occurrencesidentified 2021 prospecting included thecollection of more than 1,600 grab samples, including outcrop samplesgrading up to 35.5 g/t gold*, located 300 metres (“m”) northeastof the 97 West target, and float/boulder samples grading up to 289.4g/t gold at Skidder, as previously announced. Sampling in new areasidentified four new gold occurrences, including Train Hill discovery,an anomalous gold zone spanning 800 m by 50 m.

• New drill target generated Channel sampling from the 97 West targetincluded 11.0 g/t gold over 1.8 m and 10.7 g/t gold over 0.6 m; theCompany expects to drill this target in the fall.

Canstar commenced the 2022 field season in May as partof a fully-funded exploration program with a full-year budget ofapproximately $6 million. The primary objectives of the 2022exploration program are to:

• Expand high-grade gold mineralizationat the Kendell prospect Canstar drilled 36diamond drill holes (2,920 m) in 2021.  Notable near-surfaceintercepts included 9.6 g/t gold over 7.75 m (GB-21-01) and 11.8 g/tgold over 5.69 m (GB-21-50). An additional 29 diamond drill holes werecompleted this past winter with assay results pending.  Goldmineralization remains open in several directions and additionaldrilling, aimed at extending gold mineralization, is planned for latesummer.

• Identify the source of the 289 g/tgold “Skidder boulder” – An angularboulder containing visible gold and grading 289 g/t gold wasdiscovered in 2021 approximately 1.2 kilometres (“km”)north-northeast of the Kendell prospect (see news release datedNovember 11, 2021 .  Based ongeophysical data, glaciation studies, and recent till sample results,the Company believes that this area likely hosts additionalstructurally-controlled gold prospects.  Additional work is plannedto vector in on the source of the Skidder boulder and other grabsamples in order to define an area to be drilled later thissummer.

• Conduct maiden exploration on remoteclaims – The Golden Baie and Hermitageproperties follow major crustal-scale faults and exhibit favourablegeology along a strike length of over 150 km.  The more remote claimsin the southwest portion of the project have had little or nohistorical gold exploration.  The Company has begunhelicopter-supported grassroots exploration, which has the potentialto extend the current 40 km strike length of anomalous gold at surface(Figure 1).

* Note that rock grab samples areselective by nature and values reported may not represent the truegrade or style of mineralization across the property.

Canstar’s VP Exploration Matthieu Lapointe commented:“The Canstar exploration team is very excited to be back out in thefield to find more gold at Golden Baie.  We have already drilled onesignificant gold prospect at Kendell, but we know from thepreponderance of gold anomalies on the Golden Baie project that thereare likely multiple sources of gold mineralization on our very large claim block.  Our goal is to make additionalgold discoveries with the drill bit this year while continuing tobuild our inventory of future drill targets.”

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Figure 1 – Central portion ofGolden Baie claims (red outline) highlighting key gold occurrences(see Figure 5 for full property outline)

2021 Prospecting Results

Prospecting work in 2021 focused on a combination ofinfilling this anomalous gold trend and extending it farther south. As well, prospecting was conducted on the Swanger’s Cove claimblock, which is located to the west of the main Golden Baie claims. A total of 1,645 grab samples were collected and assayed in 2021,and all assays have now been received andanalyzed.  Four new significant gold occurrences were identified byprospecting:

1. Train Hill – Prospectingidentified an anomalous trend spanning 800 m by 50 m (Figure 2), withgrab samples grading more than 1.0 g/t gold.  A soil sampling programwas recently completed on this area and assays are pending.

2. Kendell SW – An outcrop samplegrading 6.7 g/t gold and containing acicular arsenopyrite wascollected 1 km SW of the Kendell prospect. Acicular arsenopyrite isfrequently associated with gold mineralization at Golden Baie andoften found in the vicinity of gold-bearing quartz veins.  This areaalso yielded a float sample that contained quartz and arsenopyrite insiliceous sediments and assayed 63.7 g/t gold. Prospecting andtightly-spaced soil sampling are expected to begin this summer.

3. Swanger’s Cove – An outcropsample was collected which graded 2.4 g/t gold and contained quartzveining and up to 30% sulphides, primarily as pyrrhotite.  A tillsampling program is planned for this claim block in thesummer.

4. Lazy Man – An outcrop sample wascollected which graded 3.5 g/t gold and contained quartz veining andacicular arsenopyrite hosted in shale.  A soil sampling program wasrecently completed on this area and assays are pending.

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Figure 2 - New Train Hill golddiscovery east of Wolf Pond

A total of 578 samples characterized as float orboulders were collected in 2021. The average grade of these sampleswas 1.3 g/t gold. The highest grade was 289.4 g/t from thevisible-gold bearing Skidder boulder . Twenty two samples assayed more than 5.0 g/tgold, 48 samples assayed more than 1.0 g/t Au, and 33 samples returnedmore than 0.5 g/t gold.  Table 1 provides highlights of the 2021 grabsamples, with newly reported results shown in bold.

Table 1 - Highlights of the 2021 prospecting - new goldin outcrop occurrences shown in bold

An additional 1,067 samples from outcrop and subcropwere collected in 2021. The average grade of these samples was 0.3 g/tgold. The highest grading outcrop sample returned 35.5 g/t gold and islocated ~300 m NE of the 97 West target. Twelve samples graded morethan 5.0 g/t Au, 51 samples graded more than 1.0 g/t gold and 37samples contained more than 0.5 g/t gold.

2021 Trenching and Channel SamplingResults

In 2021, the Company completed trenching on the 97West, 90 West, Northbrush, Hillside and Blow Out targets (Figures 3& 4). A total of 230 m of channel samples were collected from thetrench exposures. Highlights from the channel results are reported inTable 2.

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Figure 3 – 97 West Trench 1(viewed from above) with locations of grab and channel samples

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Figure 4 – 97 West Trench 3(viewed from above) with locations of grab and channel samples

The best channel results were from the 97 West targetarea and, more specifically, from the 97W-21-TR01 trench. Goldmineralization grading in excess of 10.0 g/t was encountered in twochannel samples from this trench and highlights the potential for the97 West target to host high-grade mineralization. Like many of theoccurrences at Golden Baie, gold mineralization at 97 West isassociated with complex quartz vein arrays, silicification of wallrocks and disseminations of pyrite and arsenopyrite.

Table 2 - Highlights of 2021 channel sampling

2022 Exploration Plans

Canstar has budgeted approximately $6 million for the2022 exploration program, which is more than double the explorationbudget for 2021.  Work is already well underway, with a winter drillprogram successfully completed on the Kendell prospect inFebruary-March and soil sampling programs completed on the Train Hilland Lazy Man targets in April.

Regional Exploration

The regular field season commenced in early May withhelicopter-supported programs on the Hermitage property and SW GoldenBaie licenses (Figure 5). The Hermitage and SW Golden Baie claimblocks are situated along major crustal-scale faults known as theHermitage Flexure and Day Cove Thrust, respectively. These remoteareas have undergone very little exploration, which was primarily foruranium and base metals. Canstar is currently completing systematicmapping transects, prospecting, and stream sediment sampling along the45 km strike length of the Hermitage property and the 35 km strikelength of SW Golden Baie.

In combination with the helicopter-based activities,the Company currently has field crews prospecting and till sampling onthe Swanger’s Cove property and in the NE Golden Baie area. Bothtill sampling programs are reconnaissance in nature, with stationsspaced at 500 m intervals along lines spaced 500 m or 1,000 m apart.All till samples will be processed for gold grain characterization byOverburden Drilling Management Limited of Nepean, Ontario.

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Drill Target Generation

In early July, the company intends to focus itsexploration efforts on the prospective central Golden Baie area(Figure 6), which has excellent access due to the nearby Baied’Espoir highway. Planned work includes followup prospecting and potentially scout drilling with a power auger andtrenching on the newly discovered SW Kendell target as well as theSkidder area. To advance its drill targets, the Company is planning toacquire up to 10 line-kilometres of Induced Polarization (“IP”) onthe Kendell, Skidder and 97 West targets. The IP/resistivity data areexpected to aid in delineating zones of sulphide enrichment andsilicification. The company also intends to acquire Optical and/orAcoustic Televiewer (ATV/OTV) data from select 2021 and 2022 drillholes to gain a better understanding of the veining orientationsassociated with the gold mineralized zones.

Reconnaissance Drilling in the Skidder Area

The Skidder target is located approximately 1.2kilometres north-northeast of the Company’s Kendell prospect andappears to have a similar style of orogenic gold mineralization. Rocksampling in the target area has defined a 500 m by 400 m gold anomalywith outcrop samples containing up to 30.3 g/t gold. Multipleanomalous float rock samples were also found in this area, generallyassaying between 1 g/t and 10 g/t gold, and visible gold was noted intwo float rocks which assayed 21.7 g/t gold and 289.4 g/t gold . The latter sample is referred toas the “Skidder boulder” and it is likely to have a nearby bedrocksource, based on till analysis and an understanding of regionalglaciation.  The area is mostly covered by till, and systematicdrilling is planned with the aim of locating the source of the Skidderboulder.  The exact area to be drilled will be defined once theresults of the additional till sampling and aforementioned IP surveyhave been received and analyzed.

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Figure 6 - Golden Baie explorationfocus area

Kendell Prospect Drilling

Winter drilling results from the Kendell prospect arepending.  High-grade gold mineralization was trenched and sampled in2020 and 2021, with two subsequent rounds of diamond drillingcompleted to follow the orogenic style of gold mineralizationidentified in the trenches.  Gold mineralization typically occursbetween two graphitic shale units that dip at a shallow angle to thenorthwest (down-dip).  To date, gold mineralization has been definedfor 75 m along strike and approximately 200 m down-dip.  The Company believes that gold mineralization atKendell is open in several directions and plans to conduct additionaldrilling this fall, with the potential to extend the gold mineralizedzone.

QA/QC:

All 2021 drilling was of NQ-sized drill core. Coresamples were split with a diamond saw andhalf-core retained for further study after being detail logged andphotographed. Samples are collected by companypersonnel and shipped to Eastern Analytical of 403 Little Bay Road,Springdale, NL. Samples are analyzed for gold using fire assay (30g)with AA finish and an ICP-34, four acid digestion followed by ICP-OESanalysis for 34 additional elements. Metallic screening is being usedfor samples with visible gold and all samples with initial fire assaysover 1 g/t Au.

Beginning in 2022, samples aresent to SGS Labs, Lakefield, ON for preparation of assay pulps. Goldanalysis is completed in the SGS Labs, Burnaby, BC with a 30 g fireassay and AAS finish (code GE_FAA30V5). Samples returning >1 g/t Auare re-assayed with a gravimetric finish (code GO-FAG30V). Mineralizedzones with visible gold are also analyzed by a 500 g screen fire assaywith screening to 106 microns (code GO-FAS30M).

Soils are dried at a secure company facility and willbe processed at SGS Labs using the GE_FAM50V5 assay method for gold(1-2,000 ppb Au detection) and the GE-IMS21B20 method, an ICP-MSanalysis that captures 37 elements including trace level detection ofpathfinders such as, Sb and W.

Canstar's QAQC program utilizes four commerciallyavailable reference standards, blanks and duplicate samples to ensuredata quality. In addition, duplicates of selected samples are beingsent to a second laboratory as check assays.

Qualified Person

Matthieu Lapointe, B.Sc., P.Geo, Vice PresidentExploration of Canstar, and a Qualified Person as defined by NationalInstrument 43-101 - Standards of Disclosure for Mineral Projects, isresponsible for the scientific and technical data presented herein andhas reviewed and approved this release.

About Canstar Resources Inc.

Canstar Resources has a very experienced technical teamand board who are focused on new mineral discoveries in Newfoundland,Canada.  Central Newfoundland has emerged as one of the most excitinggold exploration districts due to recent high-grade orogenic golddiscoveries along crustal scale fault corridors.  The Company’sflagship Golden Baie project, comprised of 774 km 2 of claims insouth-central Newfoundland, has multiple high-grade gold anomalies atsurface along 40 km of strike. The Company also holds the Buchans-MaryMarch project and other mineral exploration properties inNewfoundland. Canstar Resources is based in Toronto, Canada, and islisted on the TSX Venture Exchange under the symbol ROX and trades onthe OTCPK under the symbol CSRNF.

For further information, pleasecontact:

Rob Bruggeman, President & CEO

Email: rob@canstarresources.com

Phone:        1-647-247-8715

Website: www.canstarresources.com

Forward-Looking Statements

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

This News Release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward looking statements include estimates andstatements that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward lookingstatements may be identified by such terms as “believes”,“anticipates”, “expects”, “estimates”, “may”,“could”, “would”, “will”, or “plan”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to, the Company’s objectives, goals or future plans,statements, exploration results, potential mineralization, theestimation of mineral resources, exploration and mine developmentplans, timing of the commencement of operations and estimates ofmarket conditions. Factors that could cause actual results to differmaterially from such forward-looking information include, but are notlimited to failure to identify mineral resources, failure to convertestimated mineral resources to reserves, the inability to complete afeasibility study which recommends a production decision, thepreliminary nature of metallurgical test results, delays in obtainingor failures to obtain required governmental, environmental or otherproject approvals, political risks, inability to fulfill the duty toaccommodate First Nations and other indigenous peoples, uncertaintiesrelating to the availability and costs of financing needed in thefuture, changes in equity markets, inflation, changes in exchangerates, fluctuations in commodity prices, delays in the development ofprojects, capital and operating costs varying significantly fromestimates and the other risks involved in the mineral exploration anddevelopment industry, an inability to predict and counteract theeffects of COVID-19 on the business of the Company, including but notlimited to the effects of COVID-19 on the price of commodities,capital market conditions, restriction on labour and internationaltravel and supply chains, and those risks set out in the Company’spublic documents filed on SEDAR. Although the Company believes thatthe assumptions and factors used in preparing the forward-lookinginformation in this news release are reasonable, undue reliance shouldnot be placed on such information, which only applies as of the dateof this news release, and no assurance can be given that such eventswill occur in the disclosed time frames or at all. The Companydisclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law.

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