Canstar Resources Inc. closed the non-brokered private placement financing previously announced on December 27, 2023, for gross proceeds of $856,215. The lead order for the offering came from Mr. J. Paul Austin III, who has been appointed to the Canstar board of directors. In addition, the company announced the appointments of Mr. Juan Carlos Giron Jr. as President, Mr. William P. Upshur as corporate secretary, and Ms. Nyla Beth Gawel as Observer and special advisor to the board of directors.

Juan Carlos Giron Jr. brings 15 years of experience in executive management, capital markets, finance and commercial and strategic development. He most recently served as Executive Vice President, Strategy and Capital Markets, at a Canadian-listed mining technology company and as President and CFO of a US-listed mining company operating in Nevada. Prior to focusing on the natural resources sector, Juan Carlos spent 10 years in UBS?s International Division.

William Upshur brings over 17 years of experience in business operations, finance, strategy, and data analytics, working in sectors including US national security, natural resources, and technology. He previously led corporate affairs and investor relations strategy at a natural resources startup and built a boutique consulting practice in the mining sector. William holds a Master?s degree in Economics from The School of Advanced International Studies at The Johns Hopkins University (SAIS), and post-graduate certificates in Corporate Finance and Accounting from Harvard.

J. Paul Austin III is a professional investor and corporate advisor with over 25 years of experience in finance, capital markets, venture capital and corporate governance. Paul served as Managing Director of BlueArc Capital Management?s hedge fund strategies for approximately 10 years, and spent seven years as Chief Investment Officer of Beach Capital Management, the private investment office of Mr. S. Daniel Abraham. Paul began his career at Goldman, Sachs & Co.

after graduating from the Georgia Institute of Technology with Highest Honors. He is currently CEO of Austin & Company. He also serves on the board of Rabun Gap Nacoochee Schools and has served as a member of the Board of Trustees for the Georgia Tech Alumni Association.

Nyla Beth Gawel brings over 20 years of strategic planning, corporate executive and US public sector experience. She has servedin senior roles at Fortune 500 companies, including as Vice President at Booz Allen Hamilton, as Senior Vice President, Corporate Strategy at SAIC and as Director of Public Sector Strategy at Verizon. Nyla Beth also has extensive experience advising early-stage companies, including technology startups.

She holds a Bachelor of Science degree in Foreign Service from Georgetown University and management certificates from Yale and Duke. Concurrent with closing the offering, as previously announced, Robert Bruggeman has stepped down as President and CEO, Jack Hurley has retired as CFO and Sam Leung has departed from the company?s board of directors.