Groundstar Resources Limited
TSX VENTURE : GSA

Groundstar Resources Limited

September 27, 2005 12:36 ET

Groundstar Grants Incentive Stock Options

CALGARY, ALBERTA--(CCNMatthews - Sept. 27, 2005) - Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited ("Groundstar") (TSX VENTURE:GSA), is pleased to announce that, subject to TSX Venture Exchange approval, Groundstar has today granted 1,365,000 incentive stock options to certain officers, directors, employees and consultants of Groundstar pursuant to its Stock Option Plan. These options will be exercisable at a price of $0.54 per share and will expire on September 26, 2010.

Groundstar Resources Limited is a publicly traded Canadian based junior oil and gas company actively pursuing international exploration and production opportunities, particularly in Guyana, Libya, and Central Asia.

ON BEHALF OF THE BOARD

KAM FARD, President & Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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