Mr. Will Rascan reports

WESTSTAR RESOURCES CLOSES FIRST TRANCHE OF FINANCING FOR $407,000

Weststar Resources Corp. has closed the first tranche of a non-brokered private placement financing for gross proceeds of $407,000.

The company has allotted and issued 8.14 million units at a price of five cents per unit. Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant is exercisable by the holder to acquire one additional common share of the company for a period of two years from issuance at an exercise price of 7.5 cents per share. The units are subject to a four-month-and-one-day hold period.

In addition, the company has paid a finder's fee of a total of $13,900 to arm's-length parties.

The net proceeds from the offering shall be used to finance due diligence related to previously announced business opportunities and for general working capital purposes.