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  • Goldstar (GDM) begins permitting for drilling at Lac Anctil
  • The company expects to begin its first phase diamond drilling program after permitting is completed
  • Goldstar is also pleased to announce the appointment of Roy McDowall to its board of directors
  • McDowall has been instrumental in over 500 financings for companies globally, with a focus on the mining industry
  • Goldstar Minerals Inc. (GDM) is unchanged, trading at C$0.13

Goldstar Minerals Inc. (GDM) has commenced the permitting process for its upcoming drilling campaign at Lac Anctil.

Goldstar has completed its targeting exercise and has initiated the permitting process on its Anctil property in the Chibougamau area of Québec.

Goldstar expects to begin its first phase diamond drilling program after permitting is completed. A total of two thousand metres consisting of 10 to 15 holes are budgeted for the program.

David Crevier, CEO comments, “The 2020 Fall prospecting campaign along with the VTEM airborne survey has significantly refined our approach.”

“The permitting process brings us one step closer to being able to drill the interpreted structure, which will provide new information to further our understanding of the potential at Anctil,” added Crevier.

Goldstar is also pleased to announce the appointment of Roy McDowall to its board of directors.

McDowall is a capital markets professional with over 25 years of experience with Canadian-based boutique and bank-owned investment firms, and most recently served as Managing Director, Head of Equity Sales for Macquarie Capital Markets Canada.

He also held similar positions with Credit Suisse, CIBC World Markets, Orion Securities and National Bank Financial.

Over his career, McDowall has been instrumental in over 500 financings for companies globally, focusing on the mining industry, leveraging self-established relationships with Canadian and international institutional investors.

Goldstar has granted an option on 200 thousand shares to its new director, exercisable at C$0.16. This option vests immediately and has a five-year term.

Goldstar has engaged the Independent Trading Group’s services (ITG) Inc. as its Issuer Designated Market-Maker for its shares on the TSX Venture Exchange and other trading platforms.

Goldstar has agreed with ITG for an initial term of three months at the cost of C$5,000 per month, which can be extended thereafter every month.

Goldstar Minerals Inc. (GDM) is unchanged, trading at C$0.13.

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