Canstar Resources Inc.
TSX VENTURE : ROX

Canstar Resources Inc.

November 11, 2013 08:47 ET

Canstar Resources Commences Fall 2013 Drilling at its Flagship Mary March Property

TORONTO, ONTARIO--(Marketwired - Nov. 11, 2013) - Canstar Resources (Canstar) (TSX VENTURE:ROX) is pleased to announce the commencement of its Fall 2013 drilling program on its 50/50 Joint Ventured Mary March Property near Buchans Junction, Newfoundland. This program will follow up on previous drilling results on the property and will focus on the historic Mary March and the Nancy April zones. A total of 1,200 meters is planned.

The Mary March zone was discovered in 1999 by previous operator, Phelps Dodge and yielded impressive grades of 10.1% Zn, 1.68% Pb, 0.64% Cu, 122.1 grams per tonne (g/t) Ag, and 4.2 g/t Au over 9.63 meters. These grades are very similar to the historic mining grades found at the former operating Buchans Mine, suggesting that Mary March may be genetically related to Buchans and share similar attributes, including a well-established hydrothermal system, as can be observed at the Nancy April discovery.

The Nancy April zone, which occurs as broad zone of lower grade massive sulphides to the west of Mary March and within the Company's property, was discovered concurrently with Mary March but received limited attention at the time. Nancy April is distinguished by a consistent footwall zone of sulphide mineralization that has been traced over 200 metres of strike length from the original discovery. Similarities also exist at the Buchan's deposit where a footwall zone is present named the "Lundberg Zone". The Lundberg Zone was not mined during Buchans' producing years, but contains 20.7MT with a historic grade of 1.68% Zn, 0.72% Pb, 0.38% Cu, 5.9 g/t Ag, and 0.1 g/t Au. The Lundberg Zone is spatially associated with the highest grade orebody at Buchans, known as the Lucky Strike deposit. The current drill program will be testing the Nancy April deposit for continuity along strike as well as the potential presence of an associated high-grade body similar to Lucky Strike.

During Canstar's 2012-2013 drilling program the best results were found in drill hole MM-12-23 which intersected an interval of pyritic massive sulphide over 3.15m averaging 2.24% Zn, 0.48% Pb, 0.04% Cu, 21.02 g/t Ag, 0.80 g/t Au. This hole was designed as a twin-hole to the Mary March discovery hole but deviated from its projected path. Full results are reported in the Company's February 25, 2013 press release available on SEDAR (www.sedar.com) and on the Company's website.

Glencore Canada Corporation is the acting joint venture partner on the property, and has elected not to participate in this phase of exploration.

Significant assay results will be reported upon receipt.

Mr. Danniel Oosterman, P.Geo., the President and CEO of the Company, is a "Qualified Person" under National Instrument 43-101 and has reviewed the technical disclosure in this press release.

On behalf of myself and the Board of Directors,

Danniel J. Oosterman, P.Geo, President & CEO

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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