Greystar Resources Ltd.

Greystar Resources Ltd.

April 08, 2010 02:00 ET

Greystar Resources Ltd.: Change of Senior Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2010) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) announces following the selection of Steve Kesler as President and Chief Executive Officer of the Company to lead the Company's anticipated transition from a gold exploration company to a gold production company that Tim Lallas has resigned as Vice-President Finance, Administration and Chief Financial Officer ("CFO").

David Rovig commented, "We thank Tim for his contributions and we wish him the best in his future endeavors."

Rick Low, the current Director Finance of Greystar, has been appointed interim CFO until a permanent successor is selected. Mr. Low is a chartered accountant (1981) with over 29 years of international experience. Before joining the Company, Mr. Low held the position of Vice President Finance for Jinshan Gold Mines Inc.

The Company is currently conducting a search for a permanent successor with demonstrated experience in major project financing and intends to appoint a new CFO as soon as a suitable candidate is identified.

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 about future management and the Company's anticipated transition from a gold exploration company to a gold production company. 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 Annual Information Form dated March 26, 2010 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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