Greystar Resources Ltd.

Greystar Resources Ltd.

December 17, 2009 02:00 ET

Greystar Resources Appoints Richard Robinson to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2009) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) (the "Company") is pleased to announce the appointment of Richard L. Robinson to the Board of Directors effective January 1, 2010. Mr. Robinson will serve as a non-executive director.

Richard Robinson (56 years old) was formerly Chief Executive Officer of Gold Fields Limited (1997-1998) and an executive director of Gold Fields of South Africa Ltd (GFSA). During his tenure, Robinson led the successful merging of GFSA's and Gencor Ltd.'s gold assets to form Gold Fields Limited. In addition, at various times during his career at Gold Fields, Robinson had executive responsibility for gold operations, gold exploration, international operations, the base metals and coal operations, and all group commercial activities.

Following Gold Fields, Robinson became Managing Director of Normandy LaSource SAS (1998-2001), a joint venture between Normandy Mining Limited of Australia and the French State, with interests in Africa, Europe, Middle East and CIS. Robinson was responsible for the unbundling and restructuring of the joint venture to focus on precious metals with concurrent management of its gold operations, exploration and development projects.

Currently, Robinson is a Director of Recylex SA, a Euronext listed company involved in base metal recycling, refining and high purity special metals and Crew Gold Corporation, a Toronto and Oslo listed company involved in gold mining in Guinea. Robinson recently stepped down as Chairman of the Board of Metalor Technologies International SA following the sale of the company to private equity.

"Richard brings over 30 years of wide ranging experience in the mining industry to Greystar. His addition to the Board of Directors will add immediate depth as Greystar transitions from a developer to a producer," commented David Rovig, Chairman.

Except for the declarations above there is no further information to be disclosed in respect of the appointment of Mr. Robinson under AIM Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.

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 news release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding the intended use of proceeds of the Warrant exercises. 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 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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