Groundstar Resources Limited Provides Corporate Update

CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) -

NOT FOR DISTRIBUTION TO THE U.S.A. NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE U.S.A.

Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") announces that Mr. John Poulter has resigned as a director of the Company due to internal issues with his fund company. The Company thanks Mr. Poulter for his contributions to the Company to date and looks forward to continued support from several funds which he manages and which hold significant share positions in the Company.

About Groundstar Resources Limited

Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company's current portfolio of resource assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol "GSA" on the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.