Mr. Juan Giron reports

CANSTAR RECEIVES $410,000 FROM EARLY WARRANT EXERCISES & PROVIDES CORPORATE UPDATES

Canstar Resources Inc. has issued 8.2 million common shares to investors following the early exercise of warrants from its January, 2024, financing. The warrants had an exercise price of five cents and were set to expire on Jan. 23, 2026. The early warrant exercise has resulted in total proceeds of $410,000, which Canstar plans to use for general working capital. The company currently has 18,465,500 outstanding warrants, with an exercise price and expiration date of five cents and Jan. 23, 2026, respectively.

The company's board of directors also authorized the grant of 400,000 stock options to select employees under its stock option plan. The options are subject to vesting provisions and are exercisable until Aug. 13, 2029, at a strike price of four cents per share, reflecting the TSX Venture Exchange closing price of the company's shares on Aug. 14, 2024. Certain employees have voluntarily cancelled a total of 450,000 previously issued options, which were exercisable at 28 cents each.

About Canstar Resources Inc.

Canstar Resources is an exploration company focused on critical minerals and gold. The company's 100-per-cent-owned Golden Baie project (548.75 square kilometres) contains high-grade gold and antimony deposits along a major mineralized structure that hosts numerous gold deposits. The Buchans and Mary March projects (65.75 square kilometres), which include a joint venture with Glencore, are in the world-class, past-producing volcanogenic massive sulphide mining camp of Buchans, known for its rich deposits of zinc, copper and silver, and have yielded high-grade zinc and copper discoveries.