TORONTO, ONTARIO--(Marketwired - June 13, 2013) - Canstar Resources Inc. (Canstar) (News - Market indicators) announces the retirement of Harry J. Hodge as Chairman and Director and the subsequent appointment of Dennis H. Peterson as the new Chairman of Canstar's Board of Directors.

Mr. Hodge retired as Chairman of Canstar's Board of Directors and Mr. Peterson was immediately appointed to replace him. Mr. Hodge will continue on as a valued advisor to the Company.

Mr. Peterson has 20 years of experience as a corporate securities lawyer specializing in corporate finance matters for small cap companies, and has served as a director with a number of public companies, including Probe Mines Limited. Dennis is a securities lawyer and the principal of Peterson Law Professional Corporation, a Toronto-based securities law boutique focusing on resource companies and has extensive experience with all aspects of prospectus financings, private placements, mergers and acquisitions in the junior public markets. Mr. Peterson holds a Bachelor of Commerce (Honours) degree from Queen's University and a Bachelor of Laws degree from the University of Toronto.

Danniel Oosterman, President and CEO of Canstar, stated, "Harry has been an integral part of Canstar since 2005 as a past president, director and Chairman of the Company. His steady hand at the helm helped to guide the Company to victory over the protracted legal battle fought over the Company's flagship Mary March property located near the prolific, formerly producing Buchans Mine in Central Newfoundland. His wisdom and keen sense of the industry will be missed. On behalf of the Board, we wish to thank him for his many contributions and wish him well in his retirement." 

"We would also like to welcome Dennis aboard as Canstar's new Chairman. His corporate knowledge and experience will be instrumental in assisting the Company as it embarks on a new phase of growth and development."

On behalf of myself and the Board of Directors,

Danniel J. Oosterman, P.Geo, President & CEO

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.