MONTREAL, QUEBEC--(Marketwired - Oct. 25, 2016) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Goldstar Minerals Inc. ("Goldstar" or the "Company") (TSX VENTURE:GDM) is pleased to announce that agreements have been signed
with all private landowners with respect to the upcoming drilling program on its Lake George Property, located in New Brunswick,
Canada. The Company will begin its first phase diamond drill program with the mobilization of equipment and personnel on November
7, 2016 and expects to receive its first core the following day. Goldstar is focused on developing deposits that contain
technology metals such as high-value tungsten, tellurium, antimony, tin and bismuth, in leading mining jurisdictions in
Canada.
The 3 week delay in starting the drilling program was necessary due to additional ground prospecting required as a result of
induced polarization ("ÌP") anomalies being of much larger size than expected. Moreover, Goldstar has discovered new outcrops
that radically change the interpretation of buried intrusions, initially thought to be essentially uniform. Field evidence
suggests that these intrusions range from diorite to a whitish muscovite granite.
The Company has now determined the location of 10 drill holes which are targeting both magnetic and IP anomalies, all
supported by field geology. Accordingly, 4 holes will be investigating tungsten mineralization with possible copper and
molybdenum associated to granodiorite buried intrusions, 4 other holes will be drilled for possible copper-gold mineralization in
the vicinity of an altered diorite intrusion surrounded by breccias and faults, 1 hole will test a 250 metre long gold-tellurium
soil anomaly, and a final hole will be drilled for possible tin and tungsten mineralization near a potential buried muscovite
granite.
Goldstar will shortly start preparing drilling sites by using existing lumber and old drill roads to minimize environmental
impact and required tree cutting. These roads provide excellent access to every drill target. The Company is also finalizing
arrangements for renting an existing core handling facility, for determining assaying packages and standards, and will soon
select the drilling contractor for its 3,000 metre drilling campaign.
Next steps
Upon commencing its first diamond drilling program, Goldstar expects to release its first drilling results early in December
2016.
Benoit Moreau, President and CEO of Goldstar comments: "The Company is very pleased with the agreements signed by every
private landowner for its first phase diamond drilling program. Additional field work has also provided more geological
insight which has helped in determining and positioning the best possible targets. Our geological team is now gearing up for
final preparation and is excited with the prospect of receiving its very first core at Lake George within two weeks."
Disclosure
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and
director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking information. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ materially from those anticipated in these
statements.