Greystar Resources Ltd.
TSX : GSL
AIM : GSL

Greystar Resources Ltd.

September 20, 2007 14:16 ET

Greystar Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL), pursuant to its Amended and Restated Incentive Share Option Plan, has today granted 685,250 incentive stock options exercisable at $6.60 per share for a period of five years to directors, officers and employees of the Company. The options granted to the President and Chief Executive Officer, Executive Vice President and senior employees in Colombia vest as to one-third each after the first, second and third year from the date of grant and the options to junior employees in Colombia vest as to one-third each after 6 months, 12 months and 18 months from the date of grant.

Forward-Looking Statement

Certain statements included in this release are "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold prices, results, mineral resources and anticipated grades. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, resource estimates, exploration, development and operating risks, limited experience with development-stage mining operations, dependence on one principal exploration stage property, political and foreign risk, uninsurable risks, competition, production risks, environmental regulation and liability, government regulation, currency fluctuations, potential title disputes and dependence on key employees as set out under the heading "Risk Factors" in the Annual Information Form of the Company dated March 30, 2006 which is available in SEDAR. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

All dollar amounts are in Canadian dollars, unless otherwise stated.

No Stock Exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.

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