Goldstar begins initial prospecting at its Nemenjiche property in Québec, Canada

Goldstar Minerals Inc. (“

Goldstar

” or the “

Corporation

”) 

(

TSX-V: GDM) is pleased to announce that it has begun prospecting work on its Nemenjiche property in the Chibougamau area.

The Nemenjiche property is located approximately 15 km east of the Nelligan Project, where an inferred resource of 3.2 million ounces of gold, totaling 96,990,000 tonnes averaging 1.02 grams per tonne was announced (NI-43-101 Technical Report and Initial Estimate for the Nelligan Project, Iamgold Inc., October 2019).

The prospecting campaign will cover a target area approximately 6 square kilometres, stretching on both sides of the presumed position of the Druillettes syncline. The team has been mobilized and has begun executing a systematic grid for detailed mapping and sampling of outcrops. Samples gathered will be sent for assays at the end of the five-week campaign.

David Crevier, Chairman and CEO of Goldstar states “The regional understanding of mineralization controls has been greatly advanced with the Nelligan discovery and this new understanding will be applied in our efforts on the Nemenjiche project. This first part of the campaign which will extend to the end of the year will guide our efforts in the new year.”

Next steps

The exploration team will also prepare and design a detailed prospecting program for the Anctil property and airborne surveys for both the Nemenjiche and Anctil properties.

Corporate presentation

The Corporation’s corporate presentation is available at the following:

https://www.goldstarminerals.com/documents/en/2020/corporate_presentation.pdf

Disclosure

The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., a consultant of the Corporation. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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.