Mr. David Crevier reports

GOLDSTAR MINERALS UPDATE ON THE PRIVATE PLACEMENT

Goldstar Minerals Inc. has provided an update on the private placement announced in its press releases of May 11 and May 19, 2023.

The corporation is proceeding with its non-brokered private placement for $550,000 consisting of 9,166,666 units, at a price of six cents per unit. Each unit consists of one common share and one purchase warrant, where each warrant shall entitle the holder thereof to subscribe for one additional common share at an exercise price of 12 cents at any time until two years after closing.

The private placement use of proceeds will be for general working capital, and will be used to pay transaction expenses, salaries, trade payables and exploration expenses to be incurred on the corporation's projects.

Following the closing of the private placement, the corporation will confirm the acquisition of the IMV project as disclosed in the May 11, 2023, press release.

Closing is subject to regulatory approval.