CSRNF - Canstar Intersects 11.8 g/t Gold over 5.7 Metres at Kendell Commences Winter Drill Program

(TheNewswire)

Toronto, Ontario – February 8, 2022 – TheNewswire - CANSTAR RESOURCES INC.(TSXV:ROX ) ( OTCPK:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce additional assay resultsfrom 2021 drilling and channel sampling from the Kendell prospect atits Golden Baie project in south Newfoundland. The Company alsoannounces that a winter diamond drill program has commenced at theKendell prospect.  This program is expected to include up to 35 newdrill holes which total approximately 2,000 metres and reflect theshallow nature of the mineralization.

Drilling highlights from the final 2021 drill holeassays at the Kendell prospect are provided in Table 1 and includesome of the highest-grade intervals to date from this prospect.  Inaddition, gold mineralization was extended by approximately 50 metresdown-dip. Notable intervals and higher grade interceptsinclude:

• 11.8 g/t gold over 5.69 metres in drill holeGB-21-50

• 45.7 g/t gold over 1.07 metres near surface in drillhole GB-21-20

• 11.7 g/t gold over 3.00 metres including 249.7 g/t goldover 0.09 metres in drill hole GB-21-51

Selected detailed drill hole assay results and collardata are provided in Tables 3 and 4, respectively. All assays fromdrill hole and channel samples from Kendell have now been received andreported. Additional infill sampling of selected 2021 drill core isnow being done to ensure that all core from the interpreted zone ofmineralization has been assayed.

Table 1 - Highlight assay resultsfrom Kendell reported drill holes

Notes:

1. All intersections are downhole length as there isinsufficient information to calculate true width.

2. Reported grades have not been capped.

Matthieu Lapointe, VP Exploration of Canstar,commented: “We continue to be encouraged by the shallow, high-gradegold intercepts at the Kendell prospect. Gold mineralization has beenobserved in a 50 by 100 metre footprint that remains open along strikeand down-dip/plunge. With less than 3,000 metres drilled to date, andlimited drilling below 150 metres vertically, there is remarkablepotential to expand the mineralization. Given the results announcedtoday, we are excited to commence a winter drill program to furtherimprove our understanding of the controls on gold mineralization andto better define and extend the high-grade gold mineralizationidentified from the 2021 drilling.”

Additional channel samples from the Kendell prospecttrench were also collected in the summer of 2021.  The highlights ofthe channel samples are provided in Table 2 and are interpreted as thesurface expression of the gold mineralization intercepted by the drillholes.

Table 2.  Highlight assay resultsfrom Kendell channel sampling

Discussion of Assay Results

Drill holes GB-21-17 to GB-21-19 were drilled from thesame platform to test the area below Channel F from the Kendell TGB-20-01 trench ,which returned 2.9 g/t gold over 11.0 metres, including 6.2 g/t goldover 5.0 metres (announced November 30,2020 ) .  See the plan map in Figure 1and vertical section in Figure 2. Drill holes GB-21-18 and GB-21-19intersected gold mineralization associated with quartz veining andacicular arsenopyrite starting from a depth of two to three metresdown hole. Drill hole GB-21-17 was not sampled at the projected depthof the mineralization and this interval is now being sampled as partof the infill sampling program.

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Figure 1 - Plan view of Kendell Target showing collarsof 2021 drill holes (36 holes drilled, 2,620 metres total)

Drill holes GB-21-20 to GB-21-22 were drilled from thesame platform to test the area below Channel G in trench TGB-20-01,which yielded an average grade of 4.7 g/t gold over 6.7 metres,including 10.2 g/t gold over 3.0 metres (see Figures 1 and 3). Drillholes GB-21-20 and GB-21-21 intersected 2.0 metre intervals of 24.3g/t gold and 9.5 g/t gold, respectively. Coarse gold is generallyassociated with quartz veining and acicular arsenopyrite.

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Figure 2 – Kendell Section A-A’Showing newly reported drill hole assays (looking northeast).Mineralization is open to depth (down-dip) and along strike to the NEand SW.

Drill holes GB-21-50 to GB-21-55 were drilled from twoplatforms, with three holes per platform, and were designed to testthe area 20 to 50 metres down-dip of the mineralization intersected indrill holes GB-21-01 to GB-21-13 (see vertical section in Figure 4).It is interpreted that these drill holes have intersected twomineralized zones, an upper zone approximately one to three metres inlength and a lower zone which ranges from three to six metres inlength. Both zones are associated with quartz veining and arsenopyriteplus antimony-bearing minerals that are hosted in deformed blackshales. The intersection lengths and mineralization styles arecomparable to those noted up-dip and the zones appear to form acontinuous horizon.

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Figure 3 – Kendell Section B-B’Showing newly reported drill hole assays (looking northeast).Mineralization is open to depth (down-dip) and along strike to the NEand SW.

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Figure 4 – Kendell Section C-C’Showing highlights of newly reported assays (looking northeast).Mineralization is open to depth (down-dip) and along strike to the NEand SW

Winter Drill Program

Gold mineralization at Kendell was delineated over adown-dip length of approximately 100 metres and a strike length of 50metres based on assays from 36 drill holes in the 2021 drill program(Figure 5).  Mineralized intercepts ranged from one metre to 11metres in length and are spatially associated with metasedimentaryrocks within the interpreted hanging wall of a fault zone that isdefined by a four metre to 10 metre thick strongly sheared unit ofdark grey to black graphitic shale.

Gold mineralization remains open along strike anddown-dip/plunge at the Kendell prospect, as shown in Figure 5.  Awinter diamond drill program has now commenced to test the continuityof the shallow-dipping gold mineralization along strike, down-dip, anddown-plunge.  The Company anticipates that the drill program willconsist of approximately 2,000 metres in up to 35 drill holes.

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Figure 5 - Kendell Plan Map Showing MineralizedIntercepts and Areas to be Drill Tested

Acknowledgements

Canstar wishes to acknowledge the financial support ofthe 2021 exploration program through the Junior Exploration AssistanceProgram from the Department of Natural Resources, Government ofNewfoundland and Labrador.

QA/QC:

All rock samples were collected by company personneland shipped to Eastern Analytical of 403 Little Bay Road, Springdale,NL, a commercial laboratory that is ISO/IEC 17025 accredited andcompletely independent of Canstar Resources Inc. Samples are analyzedfor gold using fire assay (30g) with AA finish and an ICP-34, fouracid digestion followed by ICP-OES analysis for 34 additional elements. Metallic screening is being used forsamples with visible gold and all samples with initial fire assaysover 1.0 g/t Au. In addition to Eastern Analytical’s quality controlprogram of standards, blanks and duplicates, Canstar’s QAQC programutilizes four commercially available reference standards, blanks andduplicate samples to ensure data quality. In addition, duplicates ofselected samples are being sent to a second laboratory as checkassays.

Qualified Person

Bob Patey, B.Sc., P.Geo, Senior Geologist of Canstar,and a Qualified Person as defined by National Instrument 43-101 -Standards of Disclosure for Mineral Projects, is responsible for thescientific and technical data presented herein and has reviewed andapproved this release.

About Canstar Resources Inc.

Canstar is focused on district-scale gold explorationin Newfoundland, Canada. Canstar has a 100% interest in the GoldenBaie and Hermitage projects, large claim packages at the south end south-central Newfoundland covering 77,350 hectares or 774km 2 with multiple outcropping gold occurrences on a major structuraltrend. The Company also holds the Buchans-Mary March project and othermineral exploration properties in Newfoundland. Canstar Resources isbased in Toronto, Canada, and is listed on the TSX Venture Exchangeunder the symbol ROX and trades on the OTCPK under the symbolCSRNF.

For further information, pleasecontact:

Rob Bruggeman, President & CEO

Email: rob@canstarresources.com

Phone:        1-647-247-8715

Website: www.canstarresources.com

Table 3 - Selected drill holesample assays

Table 4 - Collar Data for Reported Drill Holes

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 date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor 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.

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