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CALGARY, ALBERTA--(Marketwire - Sept. 14, 2012) -
NOT FOR DISSEMINATION IN THE U.S.A.
The board of directors of Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") are pleased to announce the appointment of Mr. Chad Dust as a director and Mr. Shabir Premji as a director of Groundstar Resources Limited. Mr. Ty Pfeifer has also been appointed as Chief Operating Officer. Mr. Pfeifer, B. Sc. is a geoscientist with more than 30 years of international and domestic oil and gas experience working as an explorationist. Mr. Pfeifer has functioned in public companies at executive and board levels in which the past several years of his career have been focused on business and corporate development. Mr. Dust, B. Comm. is an energy industry entrepreneur assisting companies in structuring transactions, accessing capital and working directly with the board and management; he has more than 12 years' experience in the exploration and production business. Mr. Premji, CA, has 35 years of experience in which his recent focus is on building teams, negotiations, and corporate governance. The appointment of the new directors and officer are subject to the approval of the TSX Venture Exchange.
The following have resigned from the Company: Mr. Kam Fard as President and Chief Executive Officer, Mr. Stuart McDowall (Director), Mr. Kenneth Taylor (Director), and Mr. David Johnson (Corporate Secretary). The Company would like to thank the outgoing members for their valuable contributions in the various roles and for serving as board members.