Toronto, Ontario - TheNewswire October 22, 2021 Canstar Resources Inc. & announces that its board of directors approved the adoption of an advance notice by-law establishing a framework for advance notice of nominations of directors by shareholders of the Company . Among other things, the Advance Notice By-law fixes certain deadlines by which Shareholders must submit a notice of director nominations to the Company ...

(TheNewswire)

Canstar Resources Inc.

Toronto, Ontario - TheNewswire October 22, 2021 Canstar Resources Inc. (TSXV:ROX ) & ( OTC:CSRNF) (" Canstar" or the "Company ") announces that its board of directors approved the adoption of an advance notice by-law (the " Advance Notice By-law "), establishing a framework for advance notice of nominations of directors by shareholders of the Company (" Shareholders "). Among other things, the Advance Notice By-law fixes certain deadlines by which Shareholders must submit a notice of director nominations to the Company prior to any annual or special meeting of shareholders where directors are to be elected and sets forth the information that must be included in the notice.

The Advance Notice By-law provides a clear process for Shareholders to follow for director nominations and sets out a reasonable time frame for the submissions of nominees and the accompanying information. The Advance Notice By-law will help to ensure that all Shareholders receive adequate notice of the nominations to be considered at a Shareholder meeting at which directors are to be elected and can thereby exercise their voting rights in an informed manner. The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies.

More specifically, the Advance Notice By-law requires advance notice to the Company in circumstances where nominations of persons for election as a director of the Company are made by Shareholders other than pursuant to a request for a meeting or through a Shareholder proposal, in each case in accordance with the Business Corporations Act (Ontario) (the " OBCA ")

In the case of an annual meeting of Shareholders, notice to the Company must be given not less than 30 or more than 65 days prior to the date of the annual meeting. In the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be given not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of Shareholders (which is not also an annual meeting), notice to the Company must be given not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Advance Notice By-law is effective immediately and will be placed before Shareholders for approval, confirmation and ratification at the next annual and special meeting of Shareholders of the Company to be held on November 29, 2021 (the " Meeting "). Pursuant to the provisions of the OBCA, the Advance Notice By-law will cease to be effective unless approved, ratified and confirmed by a resolution adopted by a majority of the votes cast by Shareholders at the Meeting.

About Canstar Resources Inc.

Canstar is focused on the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. Canstar has an option to acquire a 100% interest in the Golden Baie Project, a large claim package (62,175 hectares) with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.

For further information, please contact:

Rob Bruggeman P.Eng., CFA

President & CEO

Email: rob@canstarresources.com

Phone: 1-647-247-8715

www.canstarresources.com

Forward-Looking Statements

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 includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the obtaining of Shareholder approval at the Meeting in respect of the Advance Notice By-law, the expected timing of the Meeting, the Company's expectation that the Advance Notice By-law will provide the Company's shareholders, directors and management with a transparent, fair and structured framework under which Shareholders may submit director nominations, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Green River Gold Corp. Commences Exploration Drilling at Its High-Grade Quesnel Nickel/Cobalt/Talc Project in British Columbia

Green River Gold Corp. Commences Exploration Drilling at Its High-Grade Quesnel Nickel/Cobalt/Talc Project in British Columbia

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce an Initial Phased Exploration Drill Program at its wholly owned Quesnel NickelCobaltTalc Project in British Columbia, Canada.

Further to the news release of October 28, 2021, the Company is pleased to announce that is has begun drilling short holes using a backpack drill with multiple new targets identified. Core samples have been transported to the Company's facility in Quesnel to be logged and sent for assay. The talc showing outcrops at several locations on the Company's claims, making drilling a relatively simple process and allowing for drilling throughout the Winter.

The Company has contracted a drilling company to test a "modified backpack drilling technique". If successful, this technique could result in drilling up to 20 meters deep. The drilling company has arrived in Quesnel and trail cutting to access the drill targets is currently underway. A larger diamond core drill rig capable of reaching depths exceeding 100 meters has been located and will be used for deeper drilling during this Winter's drill program. The larger drill is expected to be mobilized within the next two weeks.

The Quesnel Nickel/Cobalt/Talc Project is adjacent to the Company's Fontaine Gold Project. The two projects border Osisko Development Corp.'s Cariboo Gold Project, which contains 5 million ounces of gold and is expected to go into production late in 2023.

Drilling short holes will determine the grade and quality of the talc exposures, which outcrops at multiple locations in the Project area. The Company will also drill deeper holes to determine the vertical extent of the talc mineralization. Depending on the results of the initial drilling, the Company will undertake additional drilling throughout the Winter to further determine the extent of the talc mineralization.

The area to be targeted with the drilling program is host to talc and nickel mineralization (see the Sovereign nickel showing, Minfile 093A 130). The area covered by these mineral rights was subject to an exploration program targeting the potential for a commercial talc deposit during the 1980's. The exploration resulted in the preparation of a preliminary talc mining plan in 1986.1

The drilling completed on the talc showing in the 1980's consisted of relatively shallow holes. The holes resemble what can be achieved by using the modified backpack drilling technique that the Company will employ this Winter. Follow-up drilling with a larger drill rig will be able to explore potential talc mineralization to depths exceeding 100 meters versus the shallow exploration completed in the past.

Quesnel Nickel/Cobalt/Talc Project Highlights:

There are 3 BC MINFILE occurrences as follows:

  • 093A 013 - Sovereign Creek - developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.
  • 093A 130 - Sovereign - showings containing talc and nickel sulfides. 093H 061 - R.T. - showing containing nickel, chromium, and cobalt.

Talc is a soft mineral used in a variety of industries. Talc is used in the production of plastics, ceramics, paint, paper, roofing, rubber, and for other industrial uses. The U.S. Geological Survey (USGS) indicates that total sales of talc by U.S. Producers in 2020 was about 430,000 tons valued at about US $100 million. The USGS estimates total mine production worldwide in 2020 was 5,800,000 tons with about 220,000 tons produced in Canada. To the best of the Company's knowledge, there are no talc mines in Western Canada.

In addition to acquiring more knowledge of the talc occurrences on the Property, the Company intends to drill using the larger rig to gain more knowledge of the potential for nickel and cobalt in the same general area as the talc. The Company will be concentrating on known and potential new nickel and cobalt targets with the plan to continue drilling with larger RC/DD rigs in 2022.

The recently completed UAV-MAG survey results over the Quesnel Nickel/Cobalt/Talc Project area indicates the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. This is similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.

Kyle Townsend, Mine Manager for Green River Gold Corp., says, "I am very excited for the trial run of the modified backpack drilling technique. If successful, this technique will greatly lower our exploration costs while producing valuable results quickly. The first target we chose is twinning drill hole 86-1, drilled by Trifco Minerals in 1986. The existing records indicate favorable conditions for this drilling method. Our intent is to delineate the talc mineralization indicated by Trifco Minerals. This round of drilling is an exciting step towards obtaining the important data we need."

Perry Little, Green River Gold's President and CEO stated, "We are very pleased with the progress made within a few short weeks. We are excited to expand our exploration program at the Quesnel Nickel/Cobalt/Talc Project. In addition to finding out more about the potential for a commercial talc deposit, the focus will be on nickel and cobalt. Preliminary metallurgical work completed in 1971 has suggested the presence of nickel sulfide or nickel alloy minerals. One focus in the initial phase of exploration is to prioritize the multiple Nickel/Cobalt targets within the project area for a follow-up RC/DD drill program and to expand the areas of mineralization in 2022."

Regional Exploration Plan:

Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel/Cobalt/Talc Project and also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Green River is also awaiting assay results from the recent grab sampling program completed at both the Quesnel Nickel/Cobalt/Talc Project and the Kymar Silver Project.

Qualified Person:

Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned, high-grade Fontaine Gold Project, Quesnel Nickel/Cobalt Project and Kymar Silver Project which are located in renowned mining districts in British Columbia. The properties straddle an 18km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.

The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,440 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

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