Canstar Resources Inc.

Canstar Resources Inc.

December 20, 2007 14:45 ET

Canstar Resources Announces Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - The Directors of Canstar Resources Inc. (TSX VENTURE:ROX) wish to announce that, subject to regulatory approval, an aggregate of 1,200,000 incentive stock options have been granted to directors, officers and a consultant of the Company at a price of $0.15 per share and exercisable for a period of five years, expiring on December 20, 2012. Earlier this month 800,000 options expired, resulting in a net increase of only 400,000 outstanding options year to date.

About the Company

Canstar Resources is a junior exploration company focused on base and precious metal exploration in eastern Canada. The Company is currently focused on its Mary March project in the Buchans area of Newfoundland and the McFauld's Lake properties in the James Bay Lowlands of Ontario, the latter which is proximal to the high-grade nickel-copper-PGE discovery of Noront Resources. The Mary March project, which is under option from Phelps Dodge Corporation of Canada, hosts the Mary March volcanogenic massive sulphide (VMS) deposit, which returned some of the highest-grade base and precious metal drill intersections (9.2m @ 10.33% Zn, 1.62% Pb, 0.66% Cu, 118.1g/t Ag and 4.1 g/t Au) outside of the historic Buchans Mine. The property is currently under litigation and Canstar expects the matter to be resolved in the near future. The McFauld's Lake properties comprise 70 claims covering 1,120 hectares of the McFaulds Lake volcanic belt, to the east of the recent high-grade nickel-copper-PGE discovery. Canstar has begun exploration on the McFaulds Lake properties, in preparation for a winter (2008) drilling program. In addition to these two properties, Canstar holds a 100% interest in the Shrimp Lake and Tahoe Lake VMS/gold properties north of Red Lake, Ontario, a 75% interest in the Slate Bay copper-gold project in Red Lake's "Mine Trend", and a 100% interest in the Miminiska gold property near Pickle Lake, Ontario. The Company is well financed and currently has 59.9M shares issued and outstanding.

Canstar's shares trade on the TSX Venture Exchange under the symbol ROX.

David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release. To find out more about Canstar Resources, visit our website at

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Canstar, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Canstar's expectations are exploration risks detailed herein and from time to time in the filings made by Canstar with securities regulators.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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