Mr. David Rovig reports

GREYSTAR RESOURCES LTD.: NOTICE OF CANCELLATION OF AIM LISTING

Greystar Resources Ltd. has decided to cancel the admission of its common shares to trading on the AIM market of the London Stock Exchange with effect from 7 a.m. (British Summer Time) on June 3, 2011. Greystar will continue to maintain its primary listing on the Toronto Stock Exchange.

The last trading day on AIM will be June 2, 2011. Prior to the cancellation date, the company's common shares will continue to be traded on AIM and the TSX on an uninterrupted basis.

This decision has been made following a review of the company's AIM listing by the company's board of directors and discussions with its advisers. Given the company's Canadian-focused shareholder base, as well as the relatively low volume of trading in shares on AIM, the board concluded that the costs incurred in maintaining a secondary listing on AIM exceed the benefits obtained from the listing. On this basis, the board considers it in the best interests of the company to seek a cancellation of its common shares from trading on AIM.

Shareholders holding shares on the CREST Depositary Interest (CDI) wishing to trade the company's common shares after the cancellation date will be able to do so through the TSX, a comparable dealing facility and AIM-designated market. Shareholders should not therefore be materially prejudiced by the cancellation of the AIM listing. CDI holders will not be required to move their holdings from CREST until such time as they wish to trade their shares. Shareholders are advised to consult their stockbroker or other independent professional adviser for the procedure to follow.

We seek Safe Harbor.