Goldstar Resources NL (ASX: GDR)

GOLDSTAR APPOINTS MANAGING DIRECTOR

BOARD RESTRUCTURE COMPLETED WITH NEW NON-EXECUTIVE DIRECTOR APPOINTMENT

Goldstar Resources NL (ASX: GDR ? ?Goldstar?) is pleased to announce the appointment of experienced international mining executive, Mr Gordon Lewis, as the Company?s Managing Director, effective in October 2008. Mr Lewis will be based in Goldstar?s new corporate head office, which is about to be established in Melbourne.

The Company is also pleased to announce the appointment of experienced mining executive, Mr Graeme Sloan, to the Goldstar Board as a Non-Executive Director. Together with the appointment of Mr Lewis and the recent appointment of Non-Executive Director, Mr Peter Hatfull, this effectively completes the restructure of the Goldstar Board.

Mr Lewis is a mining engineer with over 38 years of international experience in a range of senior executive positions in the mining industry, including most recently as Chief Executive of Anglo Asian Mining plc, which is developing a copper-gold project in Azerbaijan, and prior to that as Chief Operating Officer of Alexander Mining plc, managing that company?s portfolio of copper-gold-silver projects in South America.

He has specific experience relating to Goldstar?s Walhalla Gold Project in Victoria, having worked as Mine Manager at the Project in the mid-1980s on behalf of James Askew Associates and in Woods Point-Walhalla Gold Field, having worked in the early 1970s as a Mining Engineer at the A1 Gold Mine.

During his extensive career, Mr Lewis has held a number of other senior positions including as Executive Director, Business Development with Avocet Gold Limited (2001-2002), General Manager for Specific Resources Sdn Bhd (1996-2001) with responsibility for managing Malaysia?s largest gold mine, Manager Mining for Kelian Equatorial Mining in Indonesia (1990-1995) and several senior positions with Bougainville Copper based in Papua New Guinea (1986-1990).

Commenting on the appointment, Goldstar?s Chairman, Mr Gordon Hill, said: ?We are delighted to have secured someone of Gordon?s calibre to lead Goldstar as we take the next important steps towards development and production at our Tubal Cain and Eureka Projects in Victoria.

?In addition to his very impressive career spanning a number of different operational, development and executive roles in the global mining industry, Gordon has intimate knowledge of the geology, operating conditions and potential of the Walhalla Project from working there earlier in his career,? Mr Hill said.

?Gordon will join the Company based in our new Melbourne office, which is currently being established,? he continued. ?We also intend to appoint a new Chief Financial Officer, who will also be based in Melbourne.?

Mr Hill also welcomed Graeme Sloan?s appointment to the Board as Non-Executive Director. ?Graeme has a solid corporate background and a depth of knowledge of the Victorian gold industry, particularly the differences between Walhalla and other Victorian areas,? he said.

Mr Sloan has been acting as a consultant to a number of Australian and international mining companies, including recently for Goldstar. He was Managing Director/CEO of Victorian gold producer Perseverance Corporation Limited between 2002 and 2007, where he led the feasibility study and development of the Fosterville Gold Operation.

Before joining Perseverance, Mr Sloan held a diverse range of senior international executive positions, including as General Manager for AurionGold (2001-2002), General Manager of Iluka Resources? US operations (1996-2001) and General Manager of the Kundana Gold Operations for Pancontinental Mining and Goldfields (1994-1996).

Mr Lewis? appointment, the establishment of the Melbourne corporate office and the board restructure is consistent with Goldstar?s release of 28 May which also announced the retirement of the Company?s founding Managing Director, Mr Andrew King.

?We would like to take this opportunity once again to thank Andrew for his contribution to the Company and wish him well for the future,? Mr Hill said.

?We look forward to Gordon?s leadership as we move ahead to complete the feasibility and development of the Tubal Cain and Eureka Projects, laying the foundations for Goldstar?s transition to gold production,? he concluded.

 - ENDS -

Released by:                                                                                     For further information:

Nicholas Read                                                                                   Mr Gordon Hill

Read Corporate                                                                                Chairman

Telephone: (+61-8) 9388 1474                                                     Goldstar Resources NL

www.readcorporate.com.au                                                                        Telephone: (+61-8) 9321 1577                       

www.goldstarnl.com.au

READ CORPORATE
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T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

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