Canstar Resources Inc. provided an update on gold exploration work on its properties in south-central Newfoundland. Since completing a successful winter drill program on the Kendell prospect in March, the Company's exploration team has been focused on regional exploration and drill target generation on the Hermitage, Swangers Cove and Golden Baie claim blocks. As of the end of July, approximately 42 stream sediment samples, 1,541 soil samples, 348 till samples, and 1,386 rock grab samples have been collected and submitted for assaying.

The Company has also recently completed 11 trenches, and 10 line-kilometres of IP surveying as part of the ongoing ~$6M 2022 exploration program. The majority of assays remain outstanding, but early results are encouraging and include till sample T5926 from the Golden Baie project that contained 1,049 gold grains, which is highly anomalous. This till sample was collected approximately 20 metres northeast of the previously-reported till sample containing 502 gold grains, making this emerging trend one of the top targets for drilling later this year.

Ten till samples were collected to follow up on the previously-reported 502 gold grain sample and to initiate systematic exploration of the newly acquired Golden Eye mineral claim licenses nearby. Sampling at a tighter spacing of approximately 100 metres in the vicinity of the 502 grain sample confirms strongly anomalous gold grain counts in till. Highlights include three till samples containing more than 100 gold grains (1049, 289 and 280 total grains) among which 77%, 72% and 82% of the grains, respectively, have a pristine shape.

The till samples returning in excess of 100 gold grains form an anomaly that trends northeast for approximately 200 metres and coincides with a regional-scale structure located along the contact of the Isle Galet and Riches Island Formations. A sample collected 1.5 kilometres northeast of this area, in the newly acquired Golden Eye claims, returned 102 total gold grains of which 86% are characterized as pristine shaped. The company has prioritized these target areas for trenching and drilling in late 2022.