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Montréal, August 6th 2020. Vanstar Mining Resources Inc. announces that it has completed a non-brokered Quebec flow-through private placement for gross proceeds of $501,200. The financing consists of 286,400 common shares of the company at a price of $ 1.75.

"We are happy to have secured the support of Sprott Asset Management LP(1). With this additional investment we are in a stronger position to continue to aggressively move with our exploration work", said the interim CEO of the company, Mr. Jonathan Hamel.

A 6% finder fee has been be paid to an unrelated third party.

Securities issued under this financing will be subject to a hold period of four months from the closing date. The terms of the offering are subject to the acceptance of the TSX Venture Exchange.

(1) Sprott Asset Management LP itself does not own any shares in Vanstar but is acting in its capacity as sub-adviser to Ninepoint 2020 Flow Through LP Quebec Class.

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

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Sources:

Sébastien Plouffe

Vice-President – Public Relations

splouffe@vanstarmining.com  

514-947-2272

Gary Claytens

Vice-President - Western Corporate Development

604-761-3233

info@rvanstar.com

www.vanstarmining.com