FOR:  GREYSTAR RESOURCES LTD.

TSX, AIM SYMBOL:  GSL

August 18, 2009

Greystar Appoints Seasoned Personnel to Key Senior Management Positions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2009) - Greystar Resources Ltd. ("Greystar" or the
"Company") (TSX:GSL)(AIM:GSL) reports the appointment of Mr. Timothy Lallas as its Chief Financial
Officer, Mr. Victor Guimaraes Aguilar as its Mine Planning Superintendent, Mr. Verlon Otto as its
Corporate Controller, and Mr. Eduardo Enrique Mayorga Rojas as its Human Resources Superintendent.

"We are very happy to have found a CFO of Timothy's calibre to round out our executive team," said
David Rovig, Greystar's Chief Executive Officer. "Timothy brings great depth and experience to
Greystar with a proven track record with a range of successful mining companies. I look forward to
working with Tim as we look to transform Greystar from an exploration company into a gold mining
company. On the project specific side, the additions of Victor, Verlon and Eduardo further enhance our
team as we move the Angostura gold-silver deposit towards a production decision."

Mr. Lallas is a Certified Management Accountant with over twenty years of industry experience. Most
recently he held the position of Director of Risk at the world's largest publically traded primary
molybdenum producer, Thompson Creek Metals Company Inc. and prior to that, at the third largest gold
producer in North America, Goldcorp Inc.

Mr. Guimaraes is a seasoned Mining Engineer with over twenty years of experience in gold and copper
open pit mining operations in Peru, most notably at Newmont Mining's Yanacocha gold mine and Xstrata's
Tintaya operation where he was the Mine Engineer Superintendent. He has extensive experience in Mine
Operations, Evaluation and Implementation of process optimization, Mine Planning, Mine Geology,
Dispatch System, Drilling and Blasting, Mining Topography and capital budgets.

Mr. Mayorga is a specialist in Human Management and Organizational Development with knowledge in
Project Management, Strategic Planning, improving processes, customer service and the use of strategic
planning tools such as Foresight Strategic Planning, Balanced Scorecard, and ISO 9001 Version 2008 /
ISO 9001 version 2000 and NTC - GP 1000. He is an Industrial Engineer from the Universidad Industrial
de Santander, Organizational Communicator of the Autonomous University of Bucaramanga with
specialization in Human management (Universidad de la Sabana - Bogota).

Greystar has also hired Verlon Otto as the new Corporate Controller. Mr. Otto has over twenty years of
experience in various accounting roles, in the forestry industry and mining as well as electricity
utility. Mr. Otto is a Chartered Accountant, and most recently held the position of Manager Financial
Reporting at Thompson Creek Metals Company Inc., and prior to that Manager of Corporate Reporting at
TimberWest Forest Corporation.

Forward-Looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of
Canadian securities legislation. Forward-looking statements include, among other things, statements
regarding targets, estimates and assumptions in respect of gold prices, results, mineral resources and
anticipated grades. Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties and contingencies. Many factors
could cause the Company's actual results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company. Such factors include, among other
things, risks relating to additional funding requirements, resource estimates, exploration,
development and operating risks, limited experience with development-stage mining operations,
dependence on one principal exploration stage property, political and foreign risk, uninsurable risks,
competition, production risks, environmental regulation and liability, government regulation, currency
fluctuations, potential title disputes and dependence on key employees as set out under the heading
"Risk Factors" in the Annual Information Form of the Company dated March 31, 2009 which is available
in SEDAR. Investors are cautioned that forward-looking statements are not guarantees of future
performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking
statements due to the inherent uncertainty therein. The Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Greystar Resources Ltd.
David B. Rovig
President
(406) 245-9520
www.greystarresources.com

OR

Greystar Resources Ltd.
Mr. Andreas Curkovic
Investor Relations
(416) 577-9927

OR

NCB Stockbrokers Limited
Christopher Caldwell
+44 (0) 20 707 1 5200
Christopher.Caldwell@ncb.ie

INDUSTRY:  Manufacturing and Production-Mining and Metals
SUBJECT:   PER

Greystar Resources Ltd.