(via Thenewswire.ca)

Petrostar Petroleum Corp. ("Petrostar" or "the Company") announces that the sale of its Lashburn 1/4 section heavy oil lease in Saskatchewan will not be proceeding. The Lashburn divestment was originally announced on May 24, 2012 and was tentatively scheduled to be effectively executed by way of a formal purchase and sale agreement by June 15, 2012.

About Petrostar Petroleum Corp.

Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange. The long-term objective of management is to aggressively seek properties with high potential that can be advanced with minimum expenditures. The policy of the Company is to lower shareholders' risk exposure to various stages of exploration by entering into joint ventures with third parties or acquiring projects that the Company can operate as the sole owner-operator.

For further information please contact Bruce Scafe, President / CEO at 1-877-737-8864.

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.

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