Molystar Resources Inc.

Molystar Resources Inc.

August 07, 2008 15:07 ET

Molystar Resources Inc. Announces Receipt for Final Prospectus for $1.5 Million Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2008) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRES

Molystar Resources Inc. ("Molystar" or the "Company") is pleased to announce that it has received a final receipt for its initial public offering prospectus (the "Prospectus") from the regulators in British Columbia, Ontario, and Alberta. The Prospectus, which is filed under the Company's profile on SEDAR (click here to download: http://www.sedar.com/search/search_form_pc_en.htm), qualifies the issuance of up to 6,800,000 common shares of the Company to investors in those jurisdictions. As detailed in the Prospectus, the shares are being offered at a price of $0.25 per common share.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares of Molystar in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This offering is only made by means of Prospectus. The Prospectus contains important detailed information about the securities being offered. Copies of the Prospectus may be obtained by contacting David Lim at Global Securities Corporation, Three Bentall Centre, 1100 - 595 Burrard Street, Vancouver, BC V7X 1C4, 604-689-5400 or toll-free at 1-800-455-5778, from one's own broker, or downloaded at the following link (PDF format): http://www.sedar.com/search/search_form_pc_en.htm

Investors should read the Prospectus before making an investment decision.

Note: This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Note: This document contains forward-looking statements about Molystar's planned initial public offering in Canada; planned listing on The TSX Venture; information on Molystar's business, operations, mining exploration or the environment in which it operates, and expectations related to the offering and listing. Forward-looking statements are based on Molystar's plans, estimates, forecasts and projections and are not guarantees of future results or performance and involve risks and uncertainties that are difficult to predict, or are beyond Molystar's control, including market conditions, investor expectations and business and operating risks. There can be no assurance that Molystar will complete the proposed offering or that its common shares will be listed on the TSX Venture. Consequently, you should not place any undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

MOLYSTAR RESOURCES INC.

Peter R. Hughes, Chief Executive Officer

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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