Vanstar Mining Resources Inc.

Vanstar Mining Resources Inc.

July 14, 2015 10:59 ET

CORRECTION FROM SOURCE: Vanstar Signs Agreement for Financing

LA PRAIRIE, QUÉBEC--(Marketwired - July 14, 2015) -

This document corrects and replaces the press release that was sent today at 8:30 a.m EDT

The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) announces the signing of a letter of intent with a US private investment fund based in Florida, for a $450,000 CDN financing at a price of $0,15 CDN per share with a warrant allowing additional share purchase at $0,25 CDN.

This financing offer does not constitute a firm underwriting commitment and there is no guarantee that it will be completed. The projected closing date is July 25. This financing is subject to the approval of the TSX Venture.

The funds will be allocated for cash flow purposes, if completed.

As previously mentioned, management is currently considering high tech opportunities, namely in mobile applications.

Regarding the Nelligan project, the management of the company has no intention to sell the project for the moment. This project recently optioned to IAMGOLD Corp, is currently under geological and geophysics exploration works. All the exploration works are paid by the Toronto based corporation.

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 press release contains forward-looking statements on our intentions and our plans. Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management and entail a number of risks and uncertainties. Therefore, actual results may vary materially from those projected or suggested in such forward-looking statements and readers should not place undue reliance on forward-looking statements. Please note that forward-looking statements involve risks and known and unknown uncertainties, as discussed in filings by the Company with securities regulators in Canada. Various factors may prevent or delay our plans, including availability and contractor performance, weather, access, metal prices, the success or failure of the exploration and development work at various stages of the program and the economic, competitive, political and social in general. The Company expressly disclaims any obligation to update any forward looking statements, except as required by law.

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