Vanstar Announces Results of Annual General Meeting

Montreal, Quebec--(Newsfile Corp. - June 30, 2023) - Vanstar Mining Resources Inc. (TSXV: VSR) (OTCQX: VMNGF) (FSE: 1V8) ("Vanstar", or the "Company") is pleased to announce that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on June 29, 2023. A total of 19,484,631 shares were represented in person or by proxy at the meeting, representing approximately 33.80% of the Company's outstanding shares.

The following Board members stood were duly elected with a minimum of 67.30% of the votes cast: Robert Boyd, Albert Contardi, Natasha Dixon, Luc Gervais, Jonathan Gagné, and John-David Moore. These directors will hold office until the next annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Company.

J.C. St-Amour, President and CEO, said "I am pleased to welcome back our existing directors and to extend a warm welcome to three new directors: Robert T. Boyd, Natasha Dixon, and Jean-David Moore. Mr. Boyd is a widely respected exploration geologist and senior mining executive with over 40 years of experience; Ms. Dixon has diverse work experience in capital markets as well as having helped launch the Canadian Securities Exchange (CSE); and finally, Mr. Moore has been a consultant and adviser to several mineral exploration and development companies for more than 15 years and is a significant shareholder of Vanstar. I look forward to working with this newly constituted board in the coming year. I'd also like to thank departing directors Victor Cantore, Wanda Cutler, and Claude Dufresne for their invaluable contributions to the Company and wish them much continued success."

Brunet Roy Dubé, CPA, chartered professional accountants ("BRD") was reappointed as the external auditor and will hold office until the next annual meeting at such remuneration as may be determined by the directors with 100% of the votes cast supporting the appointment of the auditor. Shareholders also voted 57.57% in favour, to approve Vanstar's stock option plan. The plan remains subject to the approval of the TSX Venture Exchange.

In addition, the Company announces that the board of directors has granted 1,050,000 options to officers, directors, and consultants to the company pursuant to its stock option plan. The options are exercisable for a period of 5 years at a price of $0.365 and vest immediately.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (2.0 million indicated and 3.6 million inferred ounces Au, NI 43-101 February 2023) and a 1% NSR. The Nelligan Project won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar is also earning 75% into the Bousquet-Odyno project located along the Cadillac Break and owns 100% of the Felix property in the Chicobi Group (Abitibi mining camp, 65 km East of Amex Perron property), the Amanda property, a 7,306 ha property located on the Auclair formation with historical gold showings up to 12.1 g/t Au over 3 meters, and the Frida and Eva properties located in the James Bay area.

Source:

JC St-Amour.
President and CEO
+1 (647) 296-9871
jc@vanstarmining.com
www.vanstarmining.com

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Forward-Looking Statements

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

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