Goldstar Minerals reaches target with closing of $550,000 private placement

Goldstar Minerals Inc. (“

Goldstar

” or the “

Corporation

”) (TSX-V : GDM) announces that it has just closed its $550,000 private placement.

On May 11, 2023, the Corporation announced that it would proceed with a $500,000 investment and on May 19, it announced that it would increase the amount of its private placement from $500,000 to $550,000. The target of the private placement was reached at closing on 16 August 2023.

This private placement consists of 9,166,666 units at a price of CAD $0.06 per unit. Each unit consists of one common share and one warrant, with each warrant allowing the holder to subscribe for one additional common share at the exercise price of CAD $0.12 during two years after closing.

At closing, the Corporation issued a total of 900,000 common shares and $5,880 in cash, in finders fees.

On May 11, the Company announced a purchase and sale agreement for the acquisition of 8 claims (the “IMV Project”), a transaction that was approved at the Board of Directors meeting held on August 17, 2023.

The new Board of directors of GDM, GMI is composed of David Crevier, President, François Perron, Danielle Giovenazzo, Daniel Routhier, André Gagné, Jacques Tremblay, Directors, and Elisa Denise Turcot, Secretary.

For further information, please contact:André GagnéCEO of Green Mining InnovationPhone: [e-mail]

and go to the site:www.greenmininginnovation.ca