CSRNF - Canstar Announces New Directors and Grants Options
(TheNewswire)
Toronto, Ontario - TheNewswire – April 26, 2021 – CANSTAR RESOURCESINC. (TSXV:ROX ) & ( OTC: CSRNF) (“ Canstar” or the “Company ”) is pleased to announce that Neil Burns and JamesClare have been appointed to the Company’s board of directors. Director Patrick Reid has resigned from the board, effectiveimmediately. The Company thanks Mr. Reid for his many years ofdedicated service to the Company as a director.
Neil Burns is a geologist with over 25 years ofextensive international experience in exploration, mining and resourceevaluation. He is currently the Vice President of Technical Servicesat Wheaton Precious Metals where he is responsible for the technicalreview of potential precious metals stream financing opportunities. Hehas been with Wheaton since 2008 and prior to Wheaton, Mr. Burns heldnumerous positions with mining and consulting firms. Neil holds amaster’s degree in mineral exploration from Queen’s University andis a registered Professional Geologist with Engineers andGeoscientists British Columbia. Mr. Burns also serves on the board ofdirectors of the BC Cancer Foundation and Au Gold Corp.
James Clare is a partner with Bennett Jones LLP, one ofCanada’s leading corporate law firms. Mr. Clare has a corporatecommercial and securities law practice, with an emphasis on corporatefinance and mergers and acquisitions, with a focus on the miningsector. His transactional experience includes domestic andcross-border public and private corporate finance transactionsrepresenting issuers and underwriters as well as merger andacquisitions transactions. Mr. Clare also serves on the board ofdirectors of SolGold plc, PJX Resources Inc., and Riverside ResourcesInc.
Dennis Peterson, Chairman of the Company, commented:“We welcome Neil and James to the board. Our goal is to growCanstar through mineral discovery and the acquisition of new projects. Their knowledge and experience will be extremely valuable inexecuting this strategy. We also thank Patrick Reid for hisinvolvement as a director of Canstar over the past twodecades.”
Canstar has granted the directors a total of 800,000options to purchase common shares of the Company at an exercise priceof $0.28 per share, expiring on April 26, 2026. The grant is subjectto regulatory approval and vesting requirements.
About Canstar Resources Inc.
Canstar is focused on the discovery and development ofeconomic mineral deposits in Newfoundland and Labrador, Canada.Canstar has an option to acquire a 100% interest in the Golden BaieProject, a large claim package (over 62,175 hectares) with recentlydiscovered, multiple outcropping gold occurrences on a majorstructural trend in south-central Newfoundland. The Company also holdsthe Buchans-Mary March project and other mineral explorationproperties in Newfoundland. Canstar Resources is based in Toronto,Canada, and is listed on the TSX Venture Exchange under the symbol ROXand trades on the OTCPK under the symbol CSRNF.
For further information, pleasecontact:
Rob Bruggeman P.Eng., CFA
President & CEO
Email: rob@canstarresources.com
Phone: 1-416-884-3556
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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