Canstar Resources Inc.- Mary March Hearing Completed: Awaiting Adjudication Board Decision
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TORONTO, ONTARIO, Jun 01 (MARKET WIRE) --
The directors of Canstar Resources Inc (TSX VENTURE: ROX) have been
advised by legal counsel that the Adjudication Board final hearing on the
dispute between the Newfoundland and Labrador Minerals Recording office
and Vinland Resources, on Canstar's Mary March property has been
completed.
We are further advised that the Newfoundland and Labrador Ministry of
Natural Resources has ruled that the Board must render a decision within
90 days of the completion of the hearing.
The Canstar board of directors expects a positive decision well within
the 90 day period, given that this dispute has been ongoing since 2000
and the Adjudication Board has had five months to hear and evaluate the
evidence.
Harry Hodge, Canstar Chairman, states, "The Company has plans in place to
resume comprehensive exploration, including detailed drilling, on the
Mary March property as soon as is feasible this summer pending a
favourable decision from the Adjudication Board. Given the excellent
results of previous preliminary drilling, company management feels that
the property offers excellent potential to host a number of commercial,
high grade VMS type base and precious metals deposits similar to the
nearby Buchans Mine."
The company wishes to thank shareholders for their support and patience
in this long-running dispute.
On behalf of the Board of Directors
Harry J. Hodge, P.Eng.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This News
Release includes certain "forward-looking statements". All statements
other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of Canstar, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially
from Canstar's expectations are exploration risks detailed herein and
from time to time in the filings made by Canstar with securities
regulators.
The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this release.
Contacts:
Canstar Resources Inc.
Karen Willoughby
Manager, Corporate Affairs
1-866-365-4724
Email: kwilloughby@canstarresources.com
Canstar Resources Inc.
Harry J. Hodge, P.Eng.
Chairman
(416) 363-4376
Email: hjhodge@geocanex.com
Website: www.canstarresources.com
Copyright 2009, Market Wire, All rights reserved.
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