Goldstar Resources NL (ASX Code: GDR)

Goldstar Resources NL (ASX Code: GDR) is pleased to announce a number of senior management appointments as it continues to strengthen its team in anticipation of the commencement of development at its 100%-owned Walhalla Gold Project in Victoria later this year.

The Company has appointed experienced operational manager Shane Hart as Project/Operations Manager – Walhalla Operations to lead the project into production. Mr Hart has over 27 years of varied mining experience including most recently as Underground Mine Manager at the CSA Copper Mine at Cobar in New South Wales and Production Manager at the Emperor Gold Mine in Fiji.

He brings with him extensive experience in the cost effective mining of narrow veined quartz reefs, similar to those that will be encountered at Walhalla.

Goldstar is also pleased to announce the appointment of Graeme Sloan on an initial three month contract to assist the Company with its transition to production.  

Mr Sloan has over 25 years experience in mining operations both nationally and internationally. He has spent the past five years as the Managing Director/CEO of Perseverance Corporation, where he was responsible for the development, construction, commissioning and operation of the one million tonne per annum Fosterville Gold Operation in Victoria.

Mr Sloan’s extensive operational and development background will be utilised to assist Goldstar with its transition to production and to overview the potentially exciting operational expansion opportunities currently being presented at Walhalla.

Goldstar is also pleased to announce the appointment of experienced Financial Controller and Company Administrator, Errol du Boulay as Joint Company Secretary/Commercial Manager.

Mr du Boulay will replace Joint Company Secretary, Mark Maine, who has resigned to enable him to focus on his other directorial duties including as Managing Director at Peak Resources. Mr du Boulay brings with him a depth of financial management and accounting experience in the Australian resource sector, and will assist David Cornes with the increased range of accounting and administrative functions during the transition to production.

Board Change

Goldstar regrets to advise that, for personal reasons, Mr Robert Carroll will step down from his position on the Board as a non-executive Director. Mr Carroll will continue, on a contractual basis, to provide key advice in the areas of financial management, corporate strategy and governance as Goldstar undertakes the next major steps in its development.

Commenting on the changes, Goldstar’s Managing Director, Mr Andrew King, said: “We have greatly valued Bob’s contribution and input to the Company and we are sorry to lose him from the Board. However, I am very pleased that he has agreed to remain with us on a consultancy basis as we move ahead with the development of the Walhalla Project and our transition to gold production”.

“I would also like to welcome the appointment of Shane, Graeme and Errol, all of whom I am confident will make an outstanding contribution to the Company,” he added. “Goldstar is entering a pivotal phase in its development and I am pleased that we have been able to attract people of this calibre to assist us with the transition to production.”

For further information:

Andrew King

Managing Director

Goldstar Resources NL

Telephone: (+61-8) 9321 1577

www.goldstarnl.com.au

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