GOLDSTAR ANNOUNCES LETTER OF INTENT TO ACQUIRE AUGER RESOURCES LTD.

Vancouver, Canada – November 21, 2011 – Goldstar Minerals Inc. (the “Company” or “Goldstar”) (TSXV:
GDM) announces that it has entered into a letter of intent dated November 15, 2011 (“LOI”) to acquire
(the “Acquisition”) Auger Resources Ltd., a widely held private Ontario mining company (“Auger”), with
no shareholder owning a controlling interest. Subject to the receipt of all necessary shareholder and
regulatory approvals, Auger will amalgamate with a newly formed wholly owned subsidiary of Goldstar
and the current shareholders of Auger will be issued 41,260,002 common shares of Goldstar. Pursuant to
the terms of the LOI, Goldstar intends to acquire all of the issued and outstanding common shares of
Auger on the basis of one common share of Goldstar for each one common share of Auger. The
Acquisition will constitute a reverse takeover under the policies of the TSX Venture Exchange (the
“Exchange”).
Auger owns a 50.1 percent interest in the Thetford Mines Chromite Project (the “Auger Property”) which
is located near Thetford Mines, a historical asbestos mining centre in the Eastern Townships of southern
Québec, Canada. The Auger Property comprises two mining concessions referred to as the Reed-
Belanger Deposit and the Hall Deposit. The Reed-Bélanger property is located to the west/southwest of
Lac du Caribou, between the towns of Black Lake and Coleraine, approximately 10km south of Thetford
Mines. The Hall property is located approximately 6.5km southeast of Thetford Mines. The mining
concessions total four claims.
A geological report in accordance with National Instrument 43-101 in respect of the Auger Property is
currently being prepared for filing with the Exchange. Further information will be announced once the
National Instrument 43-101 report has received regulatory approval and has been filed on SEDAR. In
addition, audited financial statements of Auger will be filed and included in the information circular or
filing statement to be filed with the Exchange in connection with the Acquisition. These documents will
also be available on SEDAR once finalized.
The parties to the Acquisition are at Arm’s Length. On completion of the Acquisition, Goldstar will
continue as a Tier 2 Mining Issuer. It is anticipated that the current funds held in the treasuries of both
Goldstar and Auger, which total approximately $455,000, will be sufficient to continue the work
programs contemplated by Goldstar. Upon completion of the Acquisition, the combined company will
have approximately 51,920,002 issued and outstanding common shares and Goldstar and Auger
shareholders will own approximately 20.6% and 79.4% of the combined company, respectively. The
terms of the Acquisition have been unanimously approved by the boards of directors of both Goldstar and
Auger.
On closing of the Acquisition, Mark Trevisiol, Francois Perron, and Simon Marcotte will join Stephen
Butrenchuk on the Board of Directors of Goldstar and Mr. Trevisiol will assume the position of Interim

Chief Executive Officer. The incoming directors have also agreed to acquire an aggregate of 750,000
Goldstar common shares held by certain departing directors of the Company. Mr. Trevisiol will assume
the position of Chief Executive Officer.
Mark Trevisiol, President and Chief Executive Officer, Director
Mr. Trevisiol is currently the President and CEO of Auger, and President and CEO of Silver Bear
Resources. Silver Bear Resources is a silver exploration company listed on the Toronto Stock Exchange
(SBR:TMX). Mr. Trevisiol has over 21 years of management experience in the mining industry, the
majority of which have been spent specifically in the nickel sector. Between August 2009 and December
2010, Mr. Trevisiol acted as President and Chief Executive Officer of Crowflight Minerals. Prior to
joining Crowflight, Mr. Trevisiol was Chief Operating Officer of Liberty Mines, where he was
responsible for their mining and milling operations in Timmins, Ontario. Formerly General Manager of
Business Development & Strategy of Xstrata Nickel Sudbury Operations, Mr. Trevisiol spent 18 years
with Falconbridge Ltd in various roles, including General Manager of the Sudbury Smelter business unit,
Production Manager of the Sudbury smelter and Superintendant of the Zinc Platt at Kidd Creek
operations. Mr. Trevisiol holds a mechanical engineering degree from the University of Waterloo.
Francois Perron
Mr. Perron is currently the President and Chief Executive Officer of Alexis Minerals Corporation and was
previously the President and Chief Executive Officer of Golden Goose Resources until its sale to Kodiak
Exploration in 2010. Prior to joining Golden Goose Resources, Mr. Perron was a portfolio manager,
managing various resource funds for NBC Alternative Assets in 2008 and the Caisse de dépôt et
placement du Québec from 2001 to 2007. In 2006, he was recognized by Brendan Woods International as
a Top Gun Asset Manager in Mining. Prior to fund management, he was a research analyst covering the
forest product sector at Merrill Lynch. Mr. Perron is also a director of Yorbeau Resources Inc., which is
listed on the Toronto Stock Exchange and a director of Apogee Silver Ltd. which is listed on the TSX
Venture Exchange. Mr. Perron has a Bachelor of Science, Computer Science from McMaster University
and an MBA from the Hautes Etudes Commerciales.
Simon Marcotte
Mr. Marcotte has 14 years of capital market involvement. Mr. Marcotte has been a partner of Cormark
Securities (“Cormark”) for 4 years in institutional equity sales covering Montreal and New York, and also
previously sat on the Board of Directors of Cormark. Prior to his involvement with Cormark, Mr.
Marcotte was a Director for CIBC World Markets in Montreal since 1998 in institutional sales. Mr.
Marcotte presently serves as Vice President of Corporate Development for Belo Sun Mining and Alderon
Resources Corp and is also a director of Copper One Inc. Mr. Marcotte holds a B.A.A. from Sherbrooke
University and is a Chartered Financial Analyst (CFA).
The Company will be applying for an exemption from the sponsorship requirement as set forth in
Exchange Policy 2.2 in connection with the Acquisition.
Completion of the Acquisition is subject to a number of conditions, including Exchange acceptance and
disinterested shareholder approval. The Acquisition cannot close until the required shareholder approval
is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection
with the Acquisition, any information released or received with respect to the reverse takeover may not be
accurate or complete and should not be relied upon. Trading in the securities of Goldstar should be
considered highly speculative. Trading will remain halted pending further regulatory filings with the
Exchange.

For more information, contact Robert Coltura at (604) 683-8610.
On behalf of the Board of Directors of
GOLDSTAR MINERALS INC.
Robert Coltura
President, and CEO

Completion of the Acquisition is subject to a number of conditions, including Exchange acceptance and
disinterested shareholder approval. The Acquisition cannot close until the required shareholder approval
is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection
with the Acquisition, any information released or received with respect to the reverse takeover may not be
accurate or complete and should not be relied upon. Trading in the securities of Goldstar should be
considered highly speculative. Trading will remain halted pending further regulatory filings with the
Exchange.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has
neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management discussion and analysis section of our interim
and most recent annual financial statement or other reports and filings with the TSX Venture Exchange
and applicable Canadian securities regulations. We do not assume any obligation to update any
forward-looking statements.