Hamel and Germain to Join Vanstar

LA PRAIRIE, Quebec, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The management of Vanstar Mining Resources Inc. (the « Corporation ») announce that Mr. Jonathan Hamel and Mr. Pascal Germain are candidates for appointment as directors of the Corporation. These appointments should be confirmed at the next Annual General Meeting of shareholders that will take place on August 21.

Mr. Hamel is internationally recognized for his involvement in the development of the Bitcoin and Ethereum ecosystems in Canada. Mr. Hamel is also a member of the Innovation Fintech Technology Committee of the AMF since January 2017 and is an associate researcher at the Montreal Economic Institute in the fields of Blockchain and Cryptocurrencies. Mr. Hamel is also a strategic advisor to different private companies operating in those fields.

Mr. Germain is also involved in the cryptocurrency industry and acts as the Managing Founder of an important private mining farm located in Quebec.  Mr. Germain has extensive knowledge of this new industry which will help the Corporation with its future strategic business decisions in this area.

« We are very happy that Mr. Hamel and Germain have accepted to join our board of directors. This will complete our board of directors in order to implement our new development strategy. »   commented Mr. Guy Morissette, CEO of Vanstar.

As mentioned in previous months, management of the Corporation is currently evaluating various strategic business opportunities in the high technology sector. Many projects are being investigated, but no formal offers nor any letters of intent have been signed to this day. Management is also evaluating internal projects such as a multifunctional transactional platform based on blockchain technology allowing for the record keeping of certain mining activities such as option agreements and royalties ( NSR ).

The board of directors also awarded 200,000 stock options to a Director of the Corporation at a price of $0.12. These options are valid for a period of 5 years.

Nelligan Project

In other news, IAMGOLD Corporation, strategic partner of Vanstar in the development of the Nelligan gold project, resumed drilling after the spring thaw.           

Since the resumption of the drilling, 14 drill holes were completed for a total of 6,250 metres. Visible gold was found on many areas of the drill holes and most of them fulfilled the objectives of the ongoing program.

The results from the winter drilling program should be available in the coming weeks. The current drilling program should be completed towards the end of Fall 2018.

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