NEWS!Canstar Resources Inc.- Mary March Hearing Completed: Awaiting Adjudication Board Decision
TORONTO, ONTARIO, Jun 01, 2009 (MARKETWIRE via COMTEX News Network) --
The directors of Canstar Resources Inc (TSX VENTURE: ROX) have been advised by legal counsel that the Adjudication Board final hearing on the dispute between the Newfoundland and Labrador Minerals Recording office and Vinland Resources, on Canstar's Mary March property has been completed.
We are further advised that the Newfoundland and Labrador Ministry of Natural Resources has ruled that the Board must render a decision within 90 days of the completion of the hearing.
The Canstar board of directors expects a positive decision well within the 90 day period, given that this dispute has been ongoing since 2000 and the Adjudication Board has had five months to hear and evaluate the evidence.
Harry Hodge, Canstar Chairman, states, "The Company has plans in place to resume comprehensive exploration, including detailed drilling, on the Mary March property as soon as is feasible this summer pending a favourable decision from the Adjudication Board. Given the excellent results of previous preliminary drilling, company management feels that the property offers excellent potential to host a number of commercial, high grade VMS type base and precious metals deposits similar to the nearby Buchans Mine."
The company wishes to thank shareholders for their support and patience in this long-running dispute.
On behalf of the Board of Directors
Harry J. Hodge, P.Eng.