Goldstar Minerals Inc.

August 28, 2012 16:01 ET

Goldstar Amends Payment to Auger Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Goldstar Minerals Inc. ("Goldstar" or the "Company") (TSX VENTURE:GDM) announces that in connection with its acquisition of Auger Resources Ltd. ("Auger"), it has received approval of the Exchange to issue an additional 350,000 common shares to previous Auger shareholders who were not fully compensated in accordance with the Amalgamation Agreement entered into with Auger, due to a discrepancy in the private company share register of Auger Resources Ltd.

Following the share issuance, Goldstar will have issued 41,609,999 in consideration for the Auger shares, and will have a total of 58,142,999 common shares issued and outstanding.

On behalf of the Board of Directors of


Benoit Moreau, Chief Executive Officer

Cautionary Notes

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the anticipated timing with respect to the finalization of the feasibility study; the potential of the Brockaby property; the potential results and timetable for further exploration with respect to the project and the anticipated closing of the acquisition of the property, the appointment of Renmark, the timetable with respect to future acquisitions and exploration developments at the property, the timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

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