Mr. Andre Gagne reports

GOLDSTAR MINERALS REACHES TARGET WITH CLOSING OF $550,000 PRIVATE PLACEMENT

Goldstar Minerals Inc. has closed its $550,000 private placement.

On May 11, 2023, the corporation announced that it would proceed with a $500,000 investment and on May 19, it announced that it would increase the amount of its private placement from $500,000 to $550,000. The target of the private placement was reached at closing on Aug. 16, 2023.

This private placement consists of 9,166,666 units at a price of six cents per unit. Each unit consists of one common share and one warrant, with each warrant allowing the holder to subscribe for one additional common share at the exercise price of 12 cents during two years after closing.

At closing, the corporation issued a total of 900,000 common shares and $5,880 in cash in finders' fees.

On May 11, the company announced a purchase and sale agreement for the acquisition of eight claims (the IMV project), a transaction that was approved at the board of directors meeting held on Aug. 17, 2023.

The new board of directors is composed of: David Crevier, president; Francois Perron, Danielle Giovenazzo, Daniel Routhier, Andre Gagne, Jacques Tremblay, directors; and Elisa Denise Turcot, secretary.