MOA Mountain Lake Resources Inc.

The Directors of Canstar Resources Inc. (TSX VENTURE:ROX) are pleased to
announce that the Company has signed a Memorandum of Agreement with On-Strike
Gold Inc., a private company, to explore Canstar's mineral claims ("The
Claims"), adjacent to Canstar's Mary March property in the Buchans area of
Newfoundland and Labrador.


The 37 claim property, 100% owned by Canstar, is located immediately adjacent to
the east and north along the geological trend of the Mary March property. The
Mary March property hosts several areas of high grade base and precious metals,
VMS type mineralization.


These claims are not involved in the Mary March property dispute between the
Mining Recorder's office and Vinland Resources.


On-Strike has 30 days to complete due diligence on the claims at which time it
may proceed to a Mining Option Agreement ("MOA") with Canstar to earn 50%
interest in the claims on the following terms:




--  On signing MOA, On-Strike will pay Canstar $25,000 and issue 500,000
    shares of On-Strike to Canstar. 
--  On or before the 1st anniversary On-Strike will pay $50,000 in cash to
    Canstar. 
--  On, or before the 2nd anniversary On-Strike will pay $100,000 in cash to
    Canstar. 
--  On-Strike will incur exploration expenditures on the claims as follows; 
    --  In 1st year - $100,000 
    --  In 2nd year - $250,000 
    --  In 3rd year - $500,000  



Upon earning 50% interest, On-Strike will enter into a 50/50% Joint Venture
agreement with Canstar on the claims with industry standard terms.


Harry Hodge, P.Eng. Chairman of Canstar states, "We are pleased to welcome a
partner to combine our exploration efforts and expenditures on these
well-located, highly prospective and under-explored claims. Together with the
Mary March property it will provide increased exploration exposure for Canstar
in this area of favourable geology and known high grade base and precious metals
mineralization."


On behalf of the Board of Directors

Harry J. Hodge, P.Eng.

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.

Mountain Lake Resources Inc. (TSXV:MOA)
Historical Stock Chart
From May 2024 to Jun 2024

Mountain Lake Resources Inc. (TSXV:MOA)
Historical Stock Chart
From Jun 2023 to Jun 2024