Groundstar Resources Limited
TSX VENTURE : GSA

Groundstar Resources Limited

September 14, 2007 17:50 ET

Groundstar Resources Limited Announces Granting of Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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 1,480,000 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 $0.55 per share and will expire on September 14, 2012.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.

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

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