SOURCE: Gold Star Resources Corp.

May 02, 2008 14:10 ET

Gold Star Announces Private Placement

VANCOUVER, BC--(Marketwire - May 2, 2008) - Gold Star Resources Corp. (the "Company") (TSX: GXX.H) is pleased to announce it has arranged, subject to the approval of the TSX Venture Exchange and subject to the Company obtaining Tier 2 status on the TSX-V Exchange, a non-brokered private placement of up to 4,000,000 units at a price of $0.15 per unit for total gross proceeds of up to $600,000.

Up to 4,000,000 units will be issued at a price of $0.15 per unit, with each unit consisting of one common share and one full warrant for gross proceeds of $600,000. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.175 per share for one year from the date of closing.

Proceeds of the private placement will be used for general working capital to ensure the Company maintains Tier 2 status on the TSX-V Exchange. Finders fees may be payable in cash and or securities up to the maximum allowable by the TSX-V Exchange policy.

The Company is a mineral exploration company based in Vancouver, British Columbia.

On Behalf of the Board,

"Patrick Morris"
Patrick Morris, President and CEO

THE BOARD OF THE TSX VENTURE EXCHANGE (ALSO KNOWN AS THE NEX) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • For further information, contact
    Patrick Morris
    President and Chief Executive Officer of the Company at:

    Telephone: (604) 641-4450
    Facsimile: (604) 669-9335