Canstar Resources Announces Completion of Transaction/Consolidation and Resumption of Trading

TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- CANSTAR RESOURCES INC. (TSXV: ROX) (OTCQB:CSRNF) (“Canstar” or the “Company”) is pleased to announce that following the completion of the acquisition of the Newfoundland base-metal exploration assets of Adventus Zinc Corporation and the Daniel's Harbour zinc project from Altius Resources Inc. (the “Transaction”), the Company has completed a consolidation of its shares on a five-for-one basis whereby shareholders of the Company will receive one post-consolidation common share (each a “Share”) of the Company for each five (5) pre-consolidation common shares of the Company (the “Share Consolidation”).

The Company is pleased to announce that the Transaction and the Share Consolidation have received the final acceptance of the TSX Venture Exchange and effective August 15, 2018, the Shares of the Company will resume trading on the TSX Venture Exchange. After the consolidation, the Company has 44,500,473 Shares issued and outstanding.

About Canstar
Canstar Resources is a Canadian mineral exploration and development company, with the objective to discover and develop economic mineral deposits in North America. Currently, Canstar's focus is to advance its flagship Mary March project and other mineral exploration properties in Newfoundland. Canstar is based in Toronto, Canada and is listed on the Toronto Venture Exchange and trades under the symbol: ROX-V and on the OTCQB Exchange under the symbol CSRNF.

On behalf of Canstar Resources Inc.

Christos Doulis, BA, CFA
President and CEO

For further information, please contact:

Christos Doulis,
President & CEO
Tel:  647-557-3442
Email:  cdoulis@canstarresources.com

Karen Willoughby,
Director Corporate Communications,
TF:  1-866-936-6766
Email:  kwilloughby@canstarresources.com
www.canstarresources.com

Forward-looking Statement
This press release contains “forward -looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should” “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Canstar expect or anticipate will or may occur in the future. Although Canstar has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Canstar does not undertake to update any forward-looking information except in accordance with applicable securities laws. All monetary figures referenced in this press release are in Canadian dollars unless otherwise stated.