Goldstar Minerals Announces Private Placement Financing

MONTRÉAL, Feb. 27, 2014 - Goldstar Minerals Inc. ("Goldstar" or "the Company") (TSX VENTURE:GDM) announces that it intends to complete a brokered private placement financing of Flow-Through Shares and Units through Industrial Alliance Securities Inc. acting as exclusive agent (the "Agent") for the sale of up to 800,000 Flow-Through Shares at a price of $0.125 per Flow-Through Share and up to 2,000,000 Units at a price of $0.10 per Unit for aggregate gross proceeds in the amount of $300,000.

Each Unit will be comprised of one Common Share of the Company and one full Warrant entitling the holder to acquire a Common Share at $0.15 for a period of 24 months following the completion of the Offering.

As consideration to the Agent, the Company has agreed to pay a cash commission in an amount equal to 8.5% of the gross proceeds raised in the Offering and shall issue the Agent compensation options to acquire that number of Common Shares equal to 5% of the number of Flow-Through Units and Units sold pursuant to the Offering (the "Compensation Options"). Each Compensation Option shall be exercisable at a price of $0.10 for a period of up to 24 months from the date of issue.

Closing date of the Offering is expected to occur on or before March 17, 2014. All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period. The Offering is subject to a number of conditions, including the receipt of all regulatory approvals and the approval of the TSX Venture Exchange.

The net proceeds of the sale of the Flow-Through Shares will be used by the Company to incur Canadian exploration expenditures on its Québec properties (as defined in the Income Tax Act (Canada)), which will be renounced for the 2014 taxation year. The net proceeds of the sale of the Units will be used for general corporate purposes.


About Goldstar Minerals Inc.

Goldstar Minerals is focused on developing high-value tungsten and related metals deposits in leading mining jurisdictions in Canada. Goldstar Minerals has two properties located in Québec - Julien and Brockaby -, and one in New Brunswick - Lake George property -, all with year-round access. The Company is led by a talented team with expertise and major company experience in resource exploration and development and a clear understanding of the mining business.


On behalf of the Board of Directors of
GOLDSTAR MINERALS INC., Benoit Moreau, Chief Executive Officer

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.

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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Contact Information

Benoit Moreau
514.591.8058
bmoreau@goldstarminerals.com