Greystar Resources Ltd.
LSE : GSL

Greystar Resources Ltd.

November 09, 2009 02:00 ET

Greystar Resources Announces Drill Results From the Los Laches Area at Angostura

FOR:  GREYSTAR RESOURCES LTD.

TSX, AIM SYMBOL:  GSL

November 9, 2009

Greystar Resources Announces Drill Results From the Los Laches Area at Angostura

107.6 Metres Grading 6.26 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) is
pleased to announce that the Company will initiate two exploration drill programs to investigate both the extensions of
high grade mineralization at the Angostura gold-silver deposit and near surface oxide gold mineralization recently
discovered at the Mongora prospect.

High Grade Drill Program

The high grade drill program will focus on targeting extensions of high grade shoots that exist within the Angostura
deposit. In addition, the drill program will probe the unexplored potential for feeder mineralization underlying
Angostura. The first drill holes will target the Los Laches area were previously drilled, but not published, core holes
LL08-24 and QP08-03 returned excellent results. A cross section has been posted at Greystar Resources website
www.greystarresources.com.

/T/

------------------------------------------------------------------------
Los Laches                           Drill Intercept
------------------------------------------------------------------------
                      From         To      Interval                Grade
Drill Hole ID      (metres)   (metres)      (metres)   (grams/tonne gold)
------------------------------------------------------------------------

------------------------------------------------------------------------
LL08--24             158.4      164.3           5.9                24.36
------------------------------------------------------------------------

------------------------------------------------------------------------
QP08-03              184.0      291.6         107.6                 6.26
------------------------------------------------------------------------
 including           214.0      284.5          70.5                 8.50
------------------------------------------------------------------------
 including           221.5      236.5            15                17.84
------------------------------------------------------------------------
 including           250.7      257.0           6.3                18.07
------------------------------------------------------------------------
 Including           273.5     281.85          8.35                 9.98
------------------------------------------------------------------------

/T/

Note 1: Down hole width has not been corrected but based on drill holes and structural dip of the mineralization, the
interval is considered to be close to true width.

Mongora Drill Program

Similar to the Angostura deposit, the Mongora prospect hosts higher-grade gold mineralization including 16.3 grams gold
per tonne over 1.05 metres and 12.35 grams over 1.6 metres within broader zones of lower-grade gold mineralization. The
delineation of oxide gold mineralization at the Mongora area could be very important for the Angostura project. The
potential of outlining a new oxide resource that could be added to the 2.26 million ounce oxide resource (measured and
indicated) already defined at the Angostura deposit could have favorable implications for the overall economics of the
entire Angostura project. Preliminary metallurgical evaluations are underway.

The above information has been reviewed and approved by Mr. Frederick Felder, P.Geo., a "qualified person" as that term
is defined in National Instrument 43-101 and Guidance Note for Mining, Oil and Gas Companies issued by the London Stock
Exchange in respect of AIM companies, which outline standards of disclosure for mineral projects. Mr. Felder is a
geologist with more than 40 years of industry experience and a member in good standing with the Association of
Professional Engineers and Geoscientists of British Columbia.

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a
feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A
positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000
ounces of gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this press release are "forward-looking" within the meaning of Canadian securities legislation.
They include statements regarding the anticipated effect of the new appointments, estimated annual production and
estimated mineral resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive,
political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to
differ materially from those expressed or implied in the forward-looking statements. These factors include, among
others, conclusions or realization of mineral resources, the actual results of exploration activities, possible
variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional
funding requirements, political and foreign risks, production risks, environmental regulation and liability, government
regulation as well as other risk factors set out under the heading "Risk Factors" in the Company's final short form
prospectus dated September 22, 2009 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put
undue reliance on forward-looking statements due to the inherent uncertainty therein.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Greystar Resources Ltd. - Contact in North America
Mr. Geoff Chater
VP
(604) 614-7830
www.greystarresources.com

OR

NCB Stockbrokers Limited - Contact in London
Christopher Caldwell
+44 (0) 20 7071 5200
Christopher.Caldwell@ncb.ie

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts
responsibility for the adequacy or accuracy of this news release.

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