CANSTAR RESOURCES INC. announced that it has acquired a total of 658 additional mineral claim licenses, covering 16,450 hectares, in south-central Newfoundland. The claims have been acquired through a combination of map staking by Company personnel and acquisition from several third-party claim holders. With these additional claims, Canstar now controls a total of 939 square kilometres (km2) or 93,875 hectares of claims in favourable geology along the Day Cove Thrust and Hermitage Flexure crustal-scale faults (Figure 1). At the Company's flagship Golden Baie project, 16 claims, covering 400 hectares, were staked by Canstar personnel in the key Little River Trend area (Figure 2). These claims, which were previously
held by another company, are just northeast of the till sample containing 502 gold grains (reported in the Company's May 4, 2022, news release), and host the Golden Eye and Osprey targets. Historical work on these claims includes three shallow drill holes drilled in 2009, which the Company does not
believe were sampled. Rock grab samples included a boulder grading 142.1 g/t gold and outcrop samples grading up to 19.8 g/t gold, and there were 1,014 historic soil samples of which 102 returned gold values of 10 ppb or higher with a maximum of 577 ppb gold. These are historic results that have
not been confirmed by the Company. Readers should also note that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property. An additional four claims, covering 100 hectares, located along the Little River Trend, were acquired from an arm's length third party in exchange for a nominal cash payment and a 2% Net Smelter Royalty ("NSR"). Six diamond drill holes were completed on these claims in 2009/2010. Drill hole LR-09-09 encountered a 1.0 metre interval containing 2.4 g/t gold and this hole also contained a
separate 1.5 metre interval of 0.46% antimony. Drill hole LR-10-02, located 300 metres southwest of hole LR-09-09, intersected visible gold in an interval which returned 2.95 g/t gold over 0.7 metres. A third drill hole (LR-10-03) returned assays with 1.49 g/t gold over 0.8 metres. No subsequent drilling has been completed on the property since 2010. A total of 509 historic soil samples have reportedly been collected on these claims, with 68 returning assays of at least 10 ppb gold with a maximum of 323 ppb gold. The Company also acquired 20 new claims, covering 500 hectares, in the vicinity of the Le Pouvoir fault within the Golden Baie project area. These claims were also previously held by another company and were recently map staked by Canstar personnel. Historic work on these claims includes 617 soil samples, of which 98 returned gold assays of at least 10 ppb with a maximum of 159 ppb gold. The Le Pouvoir area is notable because it has the grade stibnite (the principal ore of antimony) sample ever reported in Newfoundland. The Bernards Pond area is located to the north of the Company's existing Swangers Cove claims, which in turn are located to the north of the central portion of the Golden Baie project claims (Figure 1). The area geology consists of Ordovician marine siliciclastics of the Baie d'Espoir Group. Canstar recently map staked two licenses in this area covering 440 claims (11,000 hectares) on which there is no reported historical exploration work. An additional 106 claims covering 2,650 hectares (the "Bernards Pond Claims") were acquired from local prospectors in exchange for approximately 148,876 Canstar common shares. The vendors have conducted some preliminary prospecting work on the acquired claim block, including 65 lake sediment samples of which 20 returned gold assays of at least 5 ppb and up to 177 ppb gold, which is highly anomalous. Historic soil sampling consisted of 102 samples of which seven assayed at least 10 ppb gold with a maximum of 39 ppb gold. Limited historical prospecting on the acquired claims yielded rock grab samples of up to 3.4 g/t gold in float.