Goldstar Closes Second and Final Tranche of Private Placement

Montreal, Quebec, CANADA


NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

MONTRÉAL, June 17, 2021 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) is pleased to announce that it has completed a second and final tranche of its previously announced private placement (see press releases dated May 12, 2021 and June 4, 2021) by issuing an additional 2,887,777 flow-through common shares (the “Flow-Through Shares”) at a price of $0.18 per share for gross proceeds of $519,800.The Corporation has raised aggregate gross proceeds of $720,000 under this financing.

At closing, the Corporation issued to finders an aggregate of 152,976 common shares in payment of finders’ fees.

Two insiders of the Corporation subscribed for a total of 345,556 Flow-Through Shares, having an aggregate subscription price of $62,200.

All shares issued pursuant to this private placement are subject to a four month hold period.

The proceeds from the issuance of the Flow-Through Shares will be used to incur Canadian Exploration Expenses on properties of the Corporation located in the Province of Québec.

For further information, please contact:

David Crevier
Chairman
Telephone: 514-284-3663
dcrevier@goldstarminerals.com

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 statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.