Goldstar Announces Increase in Private Placement

Goldstar Minerals Inc. (“Goldstar” or the “Corporation”) (TSX-V: GDM) announces that it has increased the amount of its non-brokered private placement from $500,000 to $550,000.

On May 11, 2023 the Corporation announced that it would proceed with a non-brokered private placement for $500,000 consisting of 8,333,333 units, at a price of CDN $0.06 per unit.

The Corporation will now proceed with a non-brokered private placement for $550,000 consisting of 9,166,666 units, at a price of CDN $0.06 per unit. Each unit will consist of one common share and one purchase warrant where each warrant shall entitle the holder thereof to subscribe for one additional common share at an exercise price of CDN $0.12 at any time until two years after closing.

Closing is subject to regulatory approval.

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For further information, please contact:

David CrevierChairmanTelephone: [e-mail]

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 may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.