Canstar Resources Inc. announced that it has completed a non-brokered private placement of aggregate gross proceeds of CAD 735,000 on December 27, 2023. The company will issue 10,000,000 hard dollar units at a price of CAD 0.03 per hard dollar unit for a gross proceeds CAD 300,000, 8,000,000 charity flow-through units at a price of CAD 0.0325 per flow-through unit for a gross proceeds CAD 260,000 and 5,000,000 of Critical Minerals Exploration Tax Credit charity flow-through units at a price of CAD 0.035 per charity flow-through unit for gross proceeds CAD 175,000. Each Hard Dollar Unit shall be comprised of one common share and one common share purchase warrant.

Each flow-through Unit shall be comprised of one common share and one Warrant. Each CMETC FT Unit shall be comprised of one common share and one Warrant. Each Warrant shall entitle the holder to purchase one common share of the Company at an exercise price of CAD 0.05 for a period of 24 months following the closing of the Offering.

The Company reserves the right to increase the size of the Offering by up to 25%, subject to the approval of the TSX Venture Exchange. In addition, the Company announces management changes coinciding with the private placements, as well as the nomination of J. Paul Austin III to the it?s board of directors. The Company will not pay any finders?

fees in cash or securities in connection with the Offering. The Offering is subject to the receipt of all required regulatory approvals including the approval of the Exchange. All securities issued and issuable pursuant to the Offering will be subject to a hold period of four months and one day from the date of issuance.

Upon completion of the Offering and subject to all required regulatory approvals, the Company intends to appoint Juan Carlos Giron Jr. as President and CEO of the Company. The lead order in the Offering will come from funds controlled by J. Paul Austin III.