CSRNF - Canstar Samples 289 g/t Au from the Skidder Target and Engages GoldSpot Discoveries for Golden Baie Exploration

(TheNewswire)

Toronto, Ontario - TheNewswire – November 11, 2021 – CANSTAR RESOURCESINC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce partial assay resultsfrom extensive prospecting activities on its Golden Baie project in2021.  Highlights of this year’s prospecting activity resulted inthe delineation and/or expansion of multiple new target areas andinclude the discovery of (i) up to 30.3 g/t Au in outcrop and ofvisible gold in quartz float returning 289 g/t Au from the new Skiddertarget, (ii) up to 63.7 g/t Au located in the new SW Extension targetadjacent to Kendell, (iii) up to 10.2 g/t Au a further 600 metersnorth of historic high-grade samples of the Heart Hill target, and anew auriferous bedrock area located further east of the main trend.Prospecting this season was focussed in historically underexploredareas on the property. ( Note: the reader iscautioned that rock grab samples are selective by nature and valuesreported may not represent the true grade or style of mineralizationacross the property.)

Canstar is also pleased to announce that it has engagedGoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot“) to apply itsproprietary machine learning technology and geoscience data managementexpertise to assist in advancing exploration targeting on the districtscale Golden Baie property.

Highlights

• - 289 g/t Au returned from quartz float (Figure 1) fromthe Skidder target, which is located 1.2 km north of the Kendellprospect and appears to have a similar style of gold mineralization(Figure 2). Nearby rock sampling has defined a 500 meter by 400 meteranomalous area with float samples up to 21.7 g/t Au and outcrop up to30.3 g/t Au. The sample that returned 30.3 g/t Au is from outcropapproximately 370 meters NE of the Skidder boulder location.

  - Quartz float samples 2 kilometers southwest, and onstrike of Kendell, have returned 63.7 g/t Au and 3.7 g/t Au insilicified metasedimentary rocks with disseminated arsenopyrite.Assays are pending for additional rock samples from this new ‘SWExtension’ target area.

  - Quartz float grading 10.2 g/t Au from Heart Hill hasexpanded the “area of interest” to a 1,000 meter by 300 meterfootprint. Assays are pending for soils and rock samples.

  - Discovery of a new bedrock occurrence of gold in anarea the company has named Train Hill (Figure 1). Fifteen outrcropsamples were collected over a NE-striking area ~900 meters by 100meters wide. Six of the fifteen samples returned >1.0 g/t Au.Results range from below detection to 1.5 g/t Au with an average of0.7 g/t Au.

Matthieu Lapointe, VP Exploration, “Remarkableprogress was achieved by Canstar at Golden Baie this field season.High-grade results from early-stage drilling and multiple grassrootsdiscoveries that span 30 km are a testament to our high-performingexploration team and the underexplored nature and district-scalepotential of the Golden Baie property. Our intent is to accelerate oursystematic exploration strategy and continue to identify, prioritize,and advance targets. Canstar has inherited extensive drill,geochemical and geophysical datasets from the 25 years of sporadicexploration campaigns and government initiatives. We are excited topartner with GoldSpot to interrogate these data and leverage thesuccesses they have gleaned from years of experience targetingorogenic gold systems in Newfoundland and beyond.”

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Figure 1 - Golden Baie project partialclaim block map showing key targets and prospects.

Discussion of Assay Results

Skidder:

The visible gold-bearing float from Skidder (Figure 2)was discovered during 2021 prospecting of the 6-kilometer-longanomalous gold trend that strikes NE and extends from the historicBower’s Tickle occurrence to the 90 West prospect(Figure 3). TheSkidder float is 40 cm in the maximum dimension. Coarse visible goldis hosted in recrystallized grey quartz in close association witharsenopyrite (galena also present). Wall rock shale fragments hostedwithin the quartz suggests a similar host sequence as Kendell andmatch observed outcrop in the area, suggesting a local source.

Further sampling in the Skidder target area by theCompany has defined a prospective area at least 500 meters by 400meters. A total of 76 float samples and 32 outcrop samples werecollected in this area (Table 1). Excluding the 289 g/t Au float,results for other float samples average 1.3 g/t Au and range frombelow detection to 21.7 g/t Au with 18 samples reporting >1.0 g/tAu and 5 samples reporting >5.0 g/t Au. Results for outcrop samplesaverage 1.8 g/t Au and range from below detection to 30.3 g/t Au with7 samples grading >2.0 g/t Au and 2 samples grading >10.0 g/tAu. Gold mineralization in outcrop (and float) is hosted in silicifiedshale with quartz veining and up to several percent arsenopyrite,pyrrhotite and trace chalcopyrite and galena.

Canstar has completed 15 holes totalling 1,748 metersof drilling in the Skidder area and 11 holes in 1,300 meters from theBlow Out area (Figure 3). Assay results are pending for these drillholes. The Company is planning to collect basal till samples this fallto aid in vectoring towards the bedrock source of gold mineralization.Heavy Mineral Concentrates (HMC) and gold grain analyses will beprocessed by Overburden Drilling Management (ODM), global leaders inheavy mineral geochemistry and indicator mineral exploration.

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Figure 2 - Cut surfaces of boulderfrom the Skidder target, grading 289 g/t Au.  Visible gold in redcircles.  Top: shows 2 coarse visible gold (vg) grains to the rightof the image and galena to the left (hand lens for scale). BottomLeft: Coarse visible gold associated with arsenopyrite (apy). Note thedark grey-black inclusion of fine-grained sediment. Bottom right:photomicrograph of visible gold associated with arsenopyritemineralization.

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Figure 3 - Golden Baie projectpartial claim block map showing area of 2021 exploration focus anddrilling .

Train Hill:

The Train Hill discovery is located approximately 16kilometers NE of the Kendell prospect and is a new gold in bedrockoccurrence (Figure 1). There is no documentation of this occurrence inhistoric assessment work or the Newfoundland and Labrador MineralOccurrence Data System (MODS).  The new target area is particularlyinteresting as it sits off the main trend and highlights the potentialfor significant gold showings east of the Collins Brook Fault, ahistorically underexplored region of the property.

Initial rock sampling in 2021 included fifteen outrcropsamples collected over a NE-striking area approximately 900 meters by100 meters. Six of the fifteen samples returned >1.0 g/t Au.Results range from below detection to 1.5 g/t Au with an average of0.7 g/t Au (Table 1). Anomalous gold samples are characterized assiliceous metasedimentary rocks hosting centimeter-scale quartzveining with pyrite and arsenopyrite disseminations.

The Company is very encouraged by the extent ofconsistent gold values returned from the limited sampling. Theexploration team anticipates that with additional sampling andexploration activity there is potential to discover higher gradezones. To advance the Train Hill discovery the Company is planning asoil grid/prospecting to be completed this fall followed by trenching,channel sampling and geological mapping scheduled for 2022.

Heart Hill :

Heart Hill is located approximately 29 kilometersnortheast of the Kendell prospect (Figure 1). Prospecting from2016-2017 by the original property vendors resulted in sampling ofboulders grading 62.7 g/t Au and 43.9 g/t Au (2016-2017 historicalresults). These float samples were described as angular and comprisedof quartz-vein material with disseminations of arsenopyrite andgalena.

During 2021, a quartz-vein float sample taken roughly600 meters north-northeast of the historic high-grade samples,returned 10.2 g/t Au and expanded the zone of anomalous quartz float material to an area of 1,000 meters by 300meters. The anomalous footprint now contains 29 float samples.Excluding the >10.0 g/t Au samples, the 26 samples average 0.4 g/tAu and range from below detection to 2.6 g/t Au (Table 1).

To follow-up the Heart Hill target the Company intendson designing a basal till sampling with HMC analyses along withprospecting, geological mapping and channel sampling to be completedin 2022.

Kendell - SW Extension :

Nine float samples were collected in 2021 in an areatwo kilometers SW and along strike of the Kendell prospect (Table 1).63.7 g/t Au was returned from a subangular float described as a siliceous metasedimentary rock containing arsenopyrite. Floatsampling within a 50-meter radius of the high-grade sample hasreturned 3.7 g/t Au and 0.8 g/t Au from additional angular floatsamples containing quartz veining and arsenopyrite. There are samplespending assay results from this trend. The Company plans on advancingthis target in 2022 with a combination of till sampling, prospecting,trenching and channel sampling.

At present, prospecting is ongoing in some of theseareas and elsewhere on the property. Nine-hundred seventy-six (976)grab samples have been submitted for which laboratory results areanticipated throughout November and December. This includes metallicscreen re-assays of samples which assayed over 1.0 g/t Au.

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 additionalelements. Metallic screening is being used for samples with visiblegold and all samples with initial fire assays over 1.0 g/t Au. Inaddition to Eastern Analytical's quality control program of standards,blanks and duplicates, Canstar's QAQC program utilizes fourcommercially available reference standards, blanks and duplicatesamples to ensure data quality. In addition, duplicates of selectedsamples are being sent to a second laboratory as check assays.

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 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 (62,175 hectares) with recentlydiscovered, multiple outcropping gold occurrences on a majorstructural trend in south Newfoundland. The Company also holds theBuchans-Mary March 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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