Mary March Hearing Completed: Awaiting Adjudication Board Decision
Toronto, Ontario, June 1, 2009 - The directors of Canstar Resources Inc ( ROX-TSX.V ) have been advised by legal counsel that the Adjudication Board final hearing on the dispute between the Newfoundland and Labrador Minerals Recording office and Vinland Resources, on Canstar’s Mary March property has been completed.
We are further advised that the Newfoundland and Labrador Ministry of Natural Resources has ruled that the Board must render a decision within 90 days of the completion of the hearing.
The Canstar board of directors expects a positive decision well within the 90 day period, given that this dispute has been ongoing since 2000 and the Adjudication Board has had five months to hear and evaluate the evidence.
Harry Hodge, Canstar Chairman, states, “The Company has plans in place to resume comprehensive exploration, including detailed drilling, on the Mary March property as soon as is feasible this summer pending a favourable decision from the Adjudication Board. Given the excellent results of previous preliminary drilling, company management feels that the property offers excellent potential to host a number of commercial, high grade VMS type base and precious metals deposits similar to the nearby Buchans Mine.”
The Company wishes to thank shareholders for their support and patience in this long-running dispute.
On behalf of the Board of Directors
Harry J. Hodge, P.Eng.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Canstar, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Canstar’s expectations are exploration risks detailed herein and from time to time in the filings made by Canstar with securities regulators
Harry J. Hodge, P.Eng.
Manager, Corporate Affairs