Greystar Resources Ltd.
TSX : GSL
AIM : GSL

Greystar Resources Ltd.

March 25, 2010 03:00 ET

Greystar Resources Announces Drill Results from Mongora Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2010) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) is pleased to announce additional drill results from the Mongora prospect located immediately to the south of the Angostura gold-silver deposit in the California mining district, Colombia.

Mongora is similar to Angostura, hosting higher-grade gold mineralization within broader zones of lower-grade gold mineralization. While the drill program at Mongora is focused on the delineation of open pit oxide gold mineralization, drill results have identified promising sulphide mineralization as well. Drilling at Mongora has the potential to outline a new oxide resource that could be added to the 2.26 million ounce oxide resource (measured and indicated) already defined at Angostura. To date 8,670 metres have been drilled in 26 holes at Mongora (see attached plan map and cross sections or visit greystarresources.com). Preliminary metallurgical evaluations are underway. Mongora remains open in all directions as well as to depth.

Hole From (m) To (m) Interval (m)* Gold (g/t) Silver (g/t)
MO09-14 159 174.55 15.55 2.15 2.0
253.75 255.85 2.1 11.25 13.0
315 317.5 2.5 11.4 4.6
324.9 332.9 8.0 1.38 0.5
MO09-15 94.9 110.3 15.4 0.53 1.1
149.75 154 4.25 1.53 4.2
MO09-16 33.5 36.8 3.3 24.3 2.5
117.4 130.9 13.5 1.09 2.0
352 359 7.0 1.12 1.5
MO09-17 26.1 36.1 10.0 1.01 2.3
43 56.1 13.1 0.63 1.2
109.9 116 6.1 2.09 7.3
191 214 23.0 0.87 2.9
223.5 246 22.5 0.80 2.7
257 269 12.0 0.57 1.3
MO09-18 87 94.3 7.3 2.16 7.5
104 128 24.0 0.73 1.7
180 191.05 11.05 2.81 6.0
378.2 392.3 14.1 0.86 1.2
MO09-19 145 171.7 26.7 0.67 1.7
182 202.6 20.6 1.11 3.7
216 230.15 14.15 0.64 0.9
314.5 332 17.5 0.75 1.1
MO10-01 43.45 45.05 1.6 2.57 12.0
314.5 319.55 5.05 1.01 2.3
MO10-02 193 204.5 11.5 0.56 1.0
210 231.1 21.1 0.82 2.4
250.95 259 8.05 1.26 5.3
276 290 14.0 0.84 6.9
329.7 332.05 2.35 13.0 5.3
Note: * -   Down hole width, not corrected but based on drill holes and structural dip of the
mineralization, the interval is considered to be close to true width.

Immediately to the west of Mongora, the Violetal area covers another strong gold-in-soil anomaly. In total, the Mongora-Violetal exploration area covers approximately 340 hectares. For 2010, a total of 12,000 metres of drilling is planned for the Mongora-Violetal area. Two drill rigs are currently dedicated to the exploration program. Additional drill results will be published upon receipt and interpretation of assay results.

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.

To view the maps accompanying this press release please visit the following link: http://media3.marketwire.com/docs/GSLMaps325.pdf

Forward-Looking Statements

Certain statements in this news release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding mineral exploration and drilling programs. 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.

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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