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Canstar Samples 289 g/t Au from the Skidder Target and Engages GoldSpot Discoveries for Golden Baie Exploration

Toronto, Ontario - TheNewswire – November 11, 2021 – CANSTAR RESOURCES INC. (TSXV:ROX ) & ( OTC:CSRNF) (“ Canstar” or the “Company ”) is pleased to announce partial assay results from extensive prospecting activities on its Golden Baie project in 2021.  Highlights of this year’s prospecting activity resulted in the delineation and/or expansion of multiple new target areas and include the discovery of (i) up to 30.3 g/t Au in outcrop and of visible gold in quartz float returning 289 g/t Au from the new Skidder target, (ii) up to 63.7 g/t Au located in the new SW Extension target adjacent to Kendell, (iii) up to 10.2 g/t Au a further 600 meters north of historic high-grade samples of the Heart Hill target, and a new auriferous bedrock area located further east of the main trend. Prospecting this season was focussed in historically underexplored areas on the property. ( Note: the reader is cautioned that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property.)

Canstar is also pleased to announce that it has engaged GoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot“) to apply its proprietary machine learning technology and geoscience data management expertise to assist in advancing exploration targeting on the district scale Golden Baie property.

Highlights

  • - 289 g/t Au returned from quartz float (Figure 1) from the Skidder target, which is located 1.2 km north of the Kendell prospect and appears to have a similar style of gold mineralization (Figure 2). Nearby rock sampling has defined a 500 meter by 400 meter anomalous area with float samples up to 21.7 g/t Au and outcrop up to 30.3 g/t Au. The sample that returned 30.3 g/t Au is from outcrop approximately 370 meters NE of the Skidder boulder location.

    - Quartz float samples 2 kilometers southwest, and on strike of Kendell, have returned 63.7 g/t Au and 3.7 g/t Au in silicified metasedimentary rocks with disseminated arsenopyrite. Assays are pending for additional rock samples from this new ‘SW Extension’ target area.

    - Quartz float grading 10.2 g/t Au from Heart Hill has expanded the “area of interest” to a 1,000 meter by 300 meter footprint. Assays are pending for soils and rock samples.

    - Discovery of a new bedrock occurrence of gold in an area the company has named Train Hill (Figure 1). Fifteen outrcrop samples were collected over a NE-striking area ~900 meters by 100 meters wide. Six of the fifteen samples returned >1.0 g/t Au. Results range from below detection to 1.5 g/t Au with an average of 0.7 g/t Au.

Matthieu Lapointe, VP Exploration, “Remarkable progress was achieved by Canstar at Golden Baie this field season. High-grade results from early-stage drilling and multiple grassroots discoveries that span 30 km are a testament to our high-performing exploration team and the underexplored nature and district-scale potential of the Golden Baie property. Our intent is to accelerate our systematic exploration strategy and continue to identify, prioritize, and advance targets. Canstar has inherited extensive drill, geochemical and geophysical datasets from the 25 years of sporadic exploration campaigns and government initiatives. We are excited to partner with GoldSpot to interrogate these data and leverage the successes they have gleaned from years of experience targeting orogenic gold systems in Newfoundland and beyond.”



Click Image To View Full Size

Figure 1 - Golden Baie project partial claim block map showing key targets and prospects.

Discussion of Assay Results

Skidder:

The visible gold-bearing float from Skidder (Figure 2) was discovered during 2021 prospecting of the 6-kilometer-long anomalous gold trend that strikes NE and extends from the historic Bower’s Tickle occurrence to the 90 West prospect(Figure 3). The Skidder float is 40 cm in the maximum dimension. Coarse visible gold is hosted in recrystallized grey quartz in close association with arsenopyrite (galena also present). Wall rock shale fragments hosted within the quartz suggests a similar host sequence as Kendell and match observed outcrop in the area, suggesting a local source.

Further sampling in the Skidder target area by the Company has defined a prospective area at least 500 meters by 400 meters. A total of 76 float samples and 32 outcrop samples were collected in this area (Table 1). Excluding the 289 g/t Au float, results for other float samples average 1.3 g/t Au and range from below detection to 21.7 g/t Au with 18 samples reporting >1.0 g/t Au and 5 samples reporting >5.0 g/t Au. Results for outcrop samples average 1.8 g/t Au and range from below detection to 30.3 g/t Au with 7 samples grading >2.0 g/t Au and 2 samples grading >10.0 g/t Au. Gold mineralization in outcrop (and float) is hosted in silicified shale with quartz veining and up to several percent arsenopyrite, pyrrhotite and trace chalcopyrite and galena.

Canstar has completed 15 holes totalling 1,748 meters of drilling in the Skidder area and 11 holes in 1,300 meters from the Blow Out area (Figure 3). Assay results are pending for these drill holes. The Company is planning to collect basal till samples this fall to aid in vectoring towards the bedrock source of gold mineralization. Heavy Mineral Concentrates (HMC) and gold grain analyses will be processed by Overburden Drilling Management (ODM), global leaders in heavy mineral geochemistry and indicator mineral exploration.



Click Image To View Full Size

Figure 2 - Cut surfaces of boulder from the Skidder target, grading 289 g/t Au.  Visible gold in red circles.  Top: shows 2 coarse visible gold (vg) grains to the right of the image and galena to the left (hand lens for scale). Bottom Left: Coarse visible gold associated with arsenopyrite (apy). Note the dark grey-black inclusion of fine-grained sediment. Bottom right: photomicrograph of visible gold associated with arsenopyrite mineralization.



Click Image To View Full Size

Figure 3 - Golden Baie project partial claim block map showing area of 2021 exploration focus and drilling .

Train Hill:

The Train Hill discovery is located approximately 16 kilometers NE of the Kendell prospect and is a new gold in bedrock occurrence (Figure 1). There is no documentation of this occurrence in historic assessment work or the Newfoundland and Labrador Mineral Occurrence Data System (MODS).  The new target area is particularly interesting as it sits off the main trend and highlights the potential for significant gold showings east of the Collins Brook Fault, a historically underexplored region of the property.

Initial rock sampling in 2021 included fifteen outrcrop samples collected over a NE-striking area approximately 900 meters by 100 meters. Six of the fifteen samples returned >1.0 g/t Au. Results range from below detection to 1.5 g/t Au with an average of 0.7 g/t Au (Table 1). Anomalous gold samples are characterized as siliceous metasedimentary rocks hosting centimeter-scale quartz veining with pyrite and arsenopyrite disseminations.

The Company is very encouraged by the extent of consistent gold values returned from the limited sampling. The exploration team anticipates that with additional sampling and exploration activity there is potential to discover higher grade zones. To advance the Train Hill discovery the Company is planning a soil grid/prospecting to be completed this fall followed by trenching, channel sampling and geological mapping scheduled for 2022.

Heart Hill :

Heart Hill is located approximately 29 kilometers northeast of the Kendell prospect (Figure 1). Prospecting from 2016-2017 by the original property vendors resulted in sampling of boulders grading 62.7 g/t Au and 43.9 g/t Au (2016-2017 historical results). These float samples were described as angular and comprised of quartz-vein material with disseminations of arsenopyrite and galena.

During 2021, a quartz-vein float sample taken roughly 600 meters north-northeast of the historic high-grade samples, returned 10.2 g/t Au and expanded the zone of anomalous quartz float material to an area of 1,000 meters by 300 meters. The anomalous footprint now contains 29 float samples. Excluding the >10.0 g/t Au samples, the 26 samples average 0.4 g/t Au and range from below detection to 2.6 g/t Au (Table 1).

To follow-up the Heart Hill target the Company intends on designing a basal till sampling with HMC analyses along with prospecting, geological mapping and channel sampling to be completed in 2022.

Kendell - SW Extension :

Nine float samples were collected in 2021 in an area two kilometers SW and along strike of the Kendell prospect (Table 1). 63.7 g/t Au was returned from a subangular float described as a  siliceous metasedimentary rock containing arsenopyrite. Float sampling within a 50-meter radius of the high-grade sample has returned 3.7 g/t Au and 0.8 g/t Au from additional angular float samples containing quartz veining and arsenopyrite. There are samples pending assay results from this trend. The Company plans on advancing this target in 2022 with a combination of till sampling, prospecting, trenching and channel sampling.

At present, prospecting is ongoing in some of these areas and elsewhere on the property. Nine-hundred seventy-six (976) grab samples have been submitted for which laboratory results are anticipated throughout November and December. This includes metallic screen re-assays of samples which assayed over 1.0 g/t Au.

Acknowledgements

Canstar wishes to acknowledge the financial support of the 2021 exploration program through the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.

QA/QC:

All rock samples were collected by company personnel and shipped to Eastern Analytical of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Canstar Resources Inc. Samples are analyzed for gold using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis for 34 additional elements. Metallic screening is being used for samples with visible gold and all samples with initial fire assays over 1.0 g/t Au. In addition to Eastern Analytical's quality control program of standards, blanks and duplicates, Canstar's QAQC program utilizes four commercially available reference standards, blanks and duplicate samples to ensure data quality. In addition, duplicates of selected samples are being sent to a second laboratory as check assays.

Table 1 – Rock sample assays received from areas mentioned in this release  to date in 2021

Sample ID

Easting (NAD27)

Northing (NAD27)

Au (g/t)

Area

Type

18506

597306

5298986

289.385

Skidder

Float

16202

597381

5299227

30.293

Skidder

Outcrop

17047

597294

5299001

21.703

Skidder

Float

16157

597385

5299221

10.590

Skidder

Outcrop

16190

597163

5299114

10.020

Skidder

Float

13

597152

5299114

9.668

Skidder

Float

18295

597347

5299063

6.536

Skidder

Float

16414

597355

5299137

5.761

Skidder

Float

16222

597353

5299134

4.854

Skidder

Float

18544

597313

5299014

4.537

Skidder

Float

16233

597389

5298962

4.431

Skidder

Float

16109

597122

5298915

4.257

Skidder

Float

16199

597270

5298958

3.999

Skidder

Float

16230

597234

5298977

3.885

Skidder

Outcrop

16203

597424

5299225

3.473

Skidder

Float

16191

597163

5299114

3.157

Skidder

Float

18509

597388

5299212

2.862

Skidder

Outcrop

17050

597388

5299212

2.489

Skidder

Outcrop

78

597338

5299009

2.165

Skidder

Float

16204

597426

5299221

2.164

Skidder

Outcrop

16154

597287

5299033

2.003

Skidder

Outcrop

16236

597447

5298900

1.698

Skidder

Float

16193

597167

5299105

1.610

Skidder

Float

16198

597196

5298847

1.539

Skidder

Float

16288

597423

5299113

1.176

Skidder

Float

19349

597343

5299231

1.089

Skidder

Float

18299

597222

5298810

0.985

Skidder

Outcrop

81

597342

5298993

0.857

Skidder

Float

18249

597517

5299151

0.855

Skidder

Float

14

597140

5299102

0.806

Skidder

Float

17049

597256

5299059

0.775

Skidder

Float

16239

597271

5298963

0.729

Skidder

Float

18563

597142

5298771

0.710

Skidder

Outcrop

16161

597283

5299198

0.484

Skidder

Float

16232

597320

5298982

0.459

Skidder

Outcrop

16231

597275

5298935

0.429

Skidder

Outcrop

16158

597385

5299223

0.398

Skidder

Outcrop

17048

597288

5299032

0.390

Skidder

Outcrop

17227

597135

5298772

0.317

Skidder

Outcrop

18545

597430

5299072

0.311

Skidder

Float

16195

597190

5299098

0.284

Skidder

Float

18234

597297

5298993

0.236

Skidder

Float

16194

597190

5299098

0.234

Skidder

Float

18293

597428

5299144

0.230

Skidder

Float

17093

597327

5299021

0.219

Skidder

Float

17091

597326

5298982

0.198

Skidder

Outcrop

19295

597111

5298916

0.190

Skidder

Float

16197

597194

5299081

0.185

Skidder

Float

17092

597330

5299015

0.159

Skidder

Float

17231

597320

5298980

0.136

Skidder

Outcrop

16323

597124

5298891

0.131

Skidder

Float

16106

597122

5298928

0.127

Skidder

Float

16201

597347

5299232

0.119

Skidder

Float

16155

597310

5299016

0.102

Skidder

Float

18560

597186

5298814

0.097

Skidder

Outcrop

18292

597427

5299144

0.088

Skidder

Float

17094

597297

5299025

0.083

Skidder

Float

79

597335

5299003

0.075

Skidder

Float

18507

597294

5299002

0.071

Skidder

Float

17033

597303

5298997

0.065

Skidder

Float

18562

597182

5298809

0.052

Skidder

Outcrop

16105

597129

5298928

0.046

Skidder

Float

16238

597199

5298857

0.034

Skidder

Outcrop

19368

597337

5299001

0.031

Skidder

Outcrop

16192

597160

5299117

0.027

Skidder

Float

214

597341

5299012

0.026

Skidder

Float

16159

597355

5299015

0.021

Skidder

Float

18559

597320

5298996

0.015

Skidder

Outcrop

18508

597266

5299052

0.014

Skidder

Outcrop

16104

597129

5298928

0.013

Skidder

Float

16234

597444

5298911

0.012

Skidder

Float

16235

597448

5298903

0.012

Skidder

Float

18296

597347

5299063

0.010

Skidder

Float

16107

597097

5298922

0.009

Skidder

Float

16237

597452

5298893

0.008

Skidder

Float

18297

597357

5299174

0.008

Skidder

Float

18299

597222

5298810

0.007

Skidder

Outcrop

17230

597459

5299000

0.006

Skidder

Float

18246

597302

5298998

0.006

Skidder

Float

18247

597453

5299207

0.006

Skidder

Float

215

597356

5298989

0.005

Skidder

Float

16110

597087

5298911

0.005

Skidder

Float

16156

597325

5299010

0.005

Skidder

Float

16160

597443

5299149

0.005

Skidder

Float

16205

597441

5299214

0.005

Skidder

Float

16207

597471

5299212

0.005

Skidder

Float

16253

597473

5298989

0.005

Skidder

Float

16278

597351

5299008

0.005

Skidder

Float

16279

597480

5298983

0.005

Skidder

Float

16324

597129

5298909

0.005

Skidder

Float

16412

597196

5299030

0.005

Skidder

Float

16413

597245

5299113

0.005

Skidder

Float

17034

597303

5298999

0.005

Skidder

Float

18233

597305

5298974

0.005

Skidder

Float

18250

597385

5299218

0.005

Skidder

Float

18294

597502

5299146

0.005

Skidder

Float

18543

597308

5299016

0.005

Skidder

Float

19366

597198

5299232

0.005

Skidder

Float

19367

597264

5299239

0.005

Skidder

Float

16206

597462

5299211

0.005

Skidder

Outcrop

16410

597155

5298968

0.005

Skidder

Outcrop

16411

597197

5299030

0.005

Skidder

Outcrop

18235

597328

5299226

0.005

Skidder

Outcrop

18236

597238

5299226

0.005

Skidder

Outcrop

18298

597330

5298999

0.005

Skidder

Outcrop

18561

597193

5298807

0.005

Skidder

Outcrop

19347

597325

5299226

0.005

Skidder

Outcrop

19348

597325

5299226

0.005

Skidder

Outcrop

16396

610208

5308390

1.454

Train Hill

Outcrop

16397

610260

5308439

1.449

Train Hill

Outcrop

263

609767

5307845

1.348

Train Hill

Outcrop

19390

610315

5308501

1.337

Train Hill

Outcrop

44

610112

5308326

1.263

Train Hill

Outcrop

41

610218

5308466

1.259

Train Hill

Outcrop

40

610296

5308465

0.950

Train Hill

Outcrop

262

609805

5307905

0.688

Train Hill

Outcrop

16398

610260

5308447

0.437

Train Hill

Outcrop

19389

610247

5308429

0.227

Train Hill

Outcrop

42

610221

5308469

0.007

Train Hill

Outcrop

43

610255

5308493

0.007

Train Hill

Outcrop

47

609726

5307842

0.005

Train Hill

Outcrop

260

610065

5308222

0.005

Train Hill

Outcrop

261

609913

5308109

0.005

Train Hill

Float

619619

613952

5320564

62.660

Heart Hill

Float

555476

613946

5320552

43.845

Heart Hill

Float

106

614101

5321156

10.215

Heart Hill

Float

619620

613949

5320515

2.749

Heart Hill

Float

555452

613919

5320336

1.916

Heart Hill

Float

555477

613920

5320330

1.153

Heart Hill

Float

57

613771

5320328

0.955

Heart Hill

Float

555453

613769

5320673

0.810

Heart Hill

Float

619623

613791

5320511

0.536

Heart Hill

Float

1032166

613916

5320811

0.471

Heart Hill

Float

1032168

613720

5320365

0.462

Heart Hill

Float

1032167

613737

5320634

0.440

Heart Hill

Float

1032165

613916

5320811

0.333

Heart Hill

Float

113

613716

5320366

0.219

Heart Hill

Float

1032169

613726

5320315

0.212

Heart Hill

Float

619621

613939

5320520

0.161

Heart Hill

Float

619617

614173

5321225

0.115

Heart Hill

Float

58

613721

5320369

0.052

Heart Hill

Outcrop

18593

614024

5321082

0.015

Heart Hill

Float

122

613765

5320533

0.012

Heart Hill

Float

555459

613846

5320620

0.010

Heart Hill

Float

105

613984

5320851

0.007

Heart Hill

Float

59

613916

5320262

0.005

Heart Hill

Float

121

613851

5320518

0.005

Heart Hill

Float

168

613900

5320541

0.005

Heart Hill

Float

169

613918

5320530

0.005

Heart Hill

Float

170

614010

5320570

0.005

Heart Hill

Float

18591

613994

5320914

0.005

Heart Hill

Float

18592

614008

5320978

0.005

Heart Hill

Float

17

595254

5296655

63.730

SW Kendell

Float

16

595250

5296647

3.690

SW Kendell

Float

19

595205

5296657

0.840

SW Kendell

Float

18

595257

5296663

0.055

SW Kendell

Float

15

595234

5296635

0.045

SW Kendell

Float

60

595225

5296616

0.015

SW Kendell

Float

61

595254

5296648

0.005

SW Kendell

Float

160

595222

5296642

0.005

SW Kendell

Outcrop

161

595226

5296650

0.005

SW Kendell

Float

Qualified Person

Bob Patey, B.Sc., P.Geo, Senior Geologist of Canstar, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.

About Canstar Resources Inc.

Canstar is focused on the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. Canstar has an option to acquire a 100% interest in the Golden Baie Project, a large claim package (62,175 hectares) with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.

For further information, please contact:

Rob Bruggeman, President & CEO

Email: [email protected]

Phone:        1-647-247-8715

Website: www.canstarresources.com

Forward-Looking Statements

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.

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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