Greystar Resources Ltd.

Greystar Resources Ltd.

September 12, 2005 17:22 ET

Greystar Resources Ltd.: Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 12, 2005) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) - Pursuant to the rules of AIM of the London Stock Exchange, the Company has applied for a block listing on AIM of 805,000 common shares with no par value issuable in connection with the exercise of options granted with an effective date of September 6, 2005 at the exercise price of $7.10 each (the "Options") pursuant to the Company's Amended and Restated Incentive Share Stock Option Plan. These shares have not been issued and there is no assurance that they will be issued.

As part of this grant of options Mr. David Rovig, President of the Company was granted an Option to purchase 150,000 shares and Messrs. Brian Bayley, Emil Morfett, Attilio G. Spat and Fernando Suescun, directors of the Company, were each granted an option to purchase 75,000 shares. The Options are exercisable until September 6, 2010.

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

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