Groundstar Resources Limited
TSX VENTURE : GSA

Groundstar Resources Limited

May 29, 2009 15:04 ET

Groundstar Resources Limited Announces Granting of Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - May 29, 2009) -

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 975,000 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 $0.45 per share, fully vested by May 28, 2011 and will expire on May 28, 2014.

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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