Canstar Files Factum on Mary March Property; Grants Director's Replacement Options
TORONTO, ONTARIO - (Marketwire - March 24, 2010) The Directors of Canstar Resources Inc. (TSX.V-ROX) wish to report that it’s Legal Counsel has filed a Factum in response to the Factum filed by Vinland Resources (see News Release dated February 26th, 2010 www.canstarresources.com). Vinland had filed an appeal against the decision of the Newfoundland and Labrador Mineral Rights Adjudication Board, which had earlier rejected Vinland’s claim to the Mary March mineral property. The entire Factum will be available for viewing on Canstar’s website www.canstarresources.com.
The Company will continue to provide updates on the legal process as soon as they are available.
Further, subject to regulatory approval, a total of 951,666 options have been granted to directors and officers of the Company at a price of $0.10 per share. The options are exercisable for a period of five years, and will expire on March 22nd, 2015. This grant is to replace options due to expire on April 26, 2010 and will not result in an increase in the number of net options outstanding
On behalf of the Board of Directors
Harry J. Hodge, P.Eng.
Neither 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 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