1.  Name and address of the offeror.
    
    Amber Capital LP 
    900 Third Avenue 
    Suite 200 
    New York, NY  10022 

2.  The designation and number or principal amount of securities and the
    offeror's securityholding percentage in the class of securities of which
    the offeror acquired ownership or control in the transaction or
    occurrence giving rise to the obligation to file the news release, and
    whether it was ownership or control that was acquired in those
    circumstances.
    
    On March 31, 2011, Amber Capital LP, on behalf of Amber Global
    Opportunities Master Fund Ltd., PM Manager Fund, SPC on behalf of and
    for the account of Segregated Portfolio 22 and Amber Latin America LLC
    on behalf of and for the account of Series One and Series Three, which
    are investment funds managed by it (collectively, the "Offeror"),
    acquired ownership and control of 1,684,400 common shares (the "Acquired
    Shares") of Greystar Resources Ltd. (the "Company"). The Acquired Shares
    represent approximately 2.00% of the issued and outstanding common
    shares of the Company (based upon the 84,222,987 common shares stated to
    be outstanding as of March 25, 2011 by the Company in the Company's
    Management's Discussion and Analysis for the year ended December 31,
    2010, filed with Canadian securities regulators on March 25, 2011).   

3.  The designation and number or principal amount of securities and the
    offeror's securityholding percentage in the class of securities
    immediately after the transaction or occurrence giving rise to the
    obligation to file a news release. 
    
    After giving effect to the acquisition noted in item 2 above, the
    Offeror beneficially owns and controls 15,160,143 common shares in the
    capital of the Company, representing in the aggregate approximately 18%
    of the outstanding common shares of the Company (based upon the
    84,222,987 common shares stated by the Company to be outstanding as of
    March 25, 2011). 

4.  The designation and number or principal amount of securities and the
    percentage of outstanding securities of the class of securities referred
    to in paragraph 3 over which: 
    
    i.  the offeror, either alone or together with joint actors, has
        ownership and control, 
        
        After giving effect to the acquisition noted in item 2 above, the
        Offeror beneficially owns and controls 15,160,143 common shares in
        the capital of the Company, representing in the aggregate
        approximately 18% of the outstanding common shares of the Company
        (based upon the 84,222,987 common shares stated by the Company to be
        outstanding as of March 25, 2011).
          
    ii. the offeror, either alone or together with joint actors, has
        ownership but control is held by other persons or companies other
        than the offeror or any joint actor,
        
        Not applicable. 
        
    iii.the offeror, either alone or together with joint actors, has
        exclusive or shared control but does not have ownership. 
        
        Not applicable.
        
5.  The name of the market in which the transaction or occurrence that gave
    rise to the news release took place. 
    
    The Toronto Stock Exchange ("TSX"). 

6.  The value, in Canadian dollars, of any consideration offered per
    security if the offeror acquired ownership of a security in the
    transaction or occurrence giving rise to the obligation to file a news
    release. 
    
    The Acquired Shares were purchased on the TSX at an average price of
    $2.625 per common share. 

7.  The purpose of the offeror and any joint actors in effecting the
    transaction or occurrence that gave rise to the news release, including
    any future intention to acquire ownership of, or control over,
    additional securities of the reporting issuer.
    
    The Offeror acquired the Acquired Shares for investment purposes and may
    or may not purchase or sell securities of the Company in the future on
    the open market or in private transactions, depending on market
    conditions and other factors material to the Offeror's investment
    decisions, and reserves the right to dispose of any or all of its
    securities in the open market or otherwise, at any time and from time to
    time, and to engage in any hedging or similar transactions with respect
    to the securities.
    
    The Offeror may seek to influence the strategic direction of the
    Company, which may occur through discussions with representatives of the
    Company or by influencing control of the Company's board of directors. 

8.  The general nature and the material terms of any agreement, other than
    lending arrangements, with respect to securities of the reporting
    issuer, entered into by the offeror, or any joint actor, and the issuer
    of the securities or any other entity in connection with the transaction
    or occurrence giving rise to the news release, including agreements with
    respect to the acquisition, holding, disposition or voting of any
    securities. 
    
    Not applicable. 

9.  The names of any joint actors in connection with the disclosure required
    by this form. 
    
    Not applicable. 

10. In the case of a transaction or occurrence that did not take place on a
    stock exchange or other market that represents a published market for
    the securities, including an issuance from treasury, the nature and
    value in Canadian dollars of the consideration paid by the offeror. 
    
    Not applicable. 

11. If applicable, a description of any change in any material fact set out
    in a previous report by the entity under the early warning requirements
    or Part 4 of National Instrument 62-103 in respect of the reporting
    issuer's securities. 
    
    Not applicable. 

12. If applicable, a description of the exemption from securities
    legislation being relied on by the offeror and the facts supporting that
    reliance. 
    
    Not applicable.