Greystar Resources Ltd.

Greystar Resources Ltd.

March 04, 2010 02:00 ET

Greystar Resources Appoints Steve B. Kesler to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) is pleased to announce the appointment of Steve Bogdan Kesler to the Board of Directors effective March 1, 2010.

As previously announced, Mr. Kesler will serve as an international consultant to the Company until a Canadian work permit is secured. Upon receipt of Canadian documents, Mr. Kesler will relocate to Vancouver, British Columbia and assume the role of President and CEO. Please refer to the news release of February 23, 2010 for information about Mr. Kesler.

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 and the United States Private Litigation Reform Act of 1995. They include statements regarding the securing of a work permit by the new CEO, the new CEO's ability to progress the Company's development plans and the estimated average annual production from the Company's Angostura gold-silver deposit. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while currently considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause events or results to differ materially from those expressed or implied in forward-looking statements including, the requirements and processing timelines of Canadian immigration authorities, the ability and the time necessary for the new CEO to have an effect on development timelines.  Other 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 Annual Information Form of Greystar dated March 25, 2008 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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