Mr. Tyron Pfeifer reports

GROUNDSTAR RESOURCES LIMITED PROVIDES CORPORATE UPDATE

Groundstar Resources Ltd. has filed its unaudited interim financial statements, and accompanying management's discussion and analysis for the three-month period ended July 31, 2015. These statements are available on the company's SEDAR profile.

As previously disclosed, as a result of the remedial accounting efforts completed by the company in connection with the change in management which took place during fiscal 2015, various misstatements were discovered in the company's previously filed unaudited interim financial statements for the first three quarters of the year ended April 30, 2015. The comparable quarterly figures for the three-month period ended July 31, 2014, disclosed in the financial statements, and accompanying management discussion and analysis for the three-month period ended July 31, 2015, have been updated and corrected, and the statements include an explanatory note for the adjustments made.

As a result of the fact that the financial statements, and accompanying management's discussion and analysis for the year ended April 30, 2015, were not filed on or prior to the deadline, the securities commissions in the jurisdictions where the company is a reporting issuer implemented a cease trade order on the company's common shares until such time as the company files its annual financial statements and applied for a revocation of the cease trade order. As the company is now current with its continuous disclosure filings, it intends to apply for a revocation of the cease trade order and will seek the relisting of its common shares on the facilities of the TSX Venture Exchange. Further particulars will be provided in due course.