FOR: GREYSTAR RESOURCES LTD.
TSX, AIM SYMBOL: GSL
January 21, 2010
Greystar Resources Announces Drill Results From the Los Laches Area at Angostura; 86 Metres Grading
2.92 Grams/Tonne Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2010) - Greystar Resources Ltd. (the "Company")
(TSX:GSL)(AIM:GSL) is pleased to announce the initial assay results from the targeted drill program to
investigate high grade mineralization at the Los Laches area of the Angostura gold-silver deposit.
A drill plan map and cross sections are attached and have been posted on the Greystar Resources
website www.greystarresources.com.
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Los Laches Drill Intercept
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From To Interval Gold Grade Silver Grade
Drill Hole ID (metres) (metres) (metres) (grams/tonne) (grams/tonne)
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QPO09-01 360 392 32 1.24 28
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435.0 442.1 7.1 7.23 241
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including 437 439 2.0 19.35 785
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QPO09-02 No significant drill intercepts
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QPO09-03 154 240.85 86.85 2.92 5
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including 172 182 10 4.26 6
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196 208 12 4.49 5
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218 227 9 6.56 4
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QPO09-04 194 212 18 1.48 10
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240.5 259.7 19.2 1.25 4
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259.7 278.4 18.7 2.88 16
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QPO09-04 278.4 281.5 3.1 64.84 1862
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281.5 304 22.5 2.37 15
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QPO09-05 326 384.05 58.05 2.17 10
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382 390 8 11.77 47
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Note 1: Down hole width has not been corrected but based on drill holes and
structural dip of the mineralization, the interval is considered to
be close to true width.
/T/
The Los Laches area is structurally complex, influenced by the intersection of the Romeral, Paez, and
Pozo faults with the Silencio and Los Laches vein systems. This combination of intersecting structures
and structural damming has resulted in high grade gold and silver mineralization. The mineralization
has been drilled vertically for over 400 meters which indicates the potential for continuity of the
high grade structures at depth. Additional drilling is required to test the western strike extension
of the Los Laches high grade mineralization in the direction of the La Alta East area where the El
Pozo fault is an important focus of mineralization. In addition, further drilling will continue to
test the high grade mineralized structures at depth. Currently two drill rigs are drilling at Los
Laches.
The above information has been reviewed and approved by Mr. Frederick Felder, P.Geo., a "qualified
person" as that term is defined in National Instrument 43-101 and Guidance Note for Mining, Oil and
Gas Companies issued by the London Stock Exchange in respect of AIM companies, which outline standards
of disclosure for mineral projects. Mr. Felder is a geologist with more than 40 years of industry
experience and a member in good standing with the Association of Professional Engineers and
Geoscientists of British Columbia.
About Greystar Resources Ltd.
Greystar Resources Ltd. is a precious metals exploration and development company that is currently
completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit
in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions
average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over
a 15 year mine life.
Forward-Looking Statements
Certain statements in this press release are "forward-looking" within the meaning of Canadian
securities legislation. They include statements regarding the anticipated effect of the new
appointments, estimated annual production and estimated mineral resources. 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 other contingencies. Many factors could cause the Company's actual results to
differ materially from those expressed or implied in the forward-looking statements. These factors
include, among others, conclusions or realization of mineral resources, the actual results of
exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price
of gold and silver, risks relating to additional funding requirements, political and foreign risks,
production risks, environmental regulation and liability, government regulation as well as other risk
factors set out under the heading "Risk Factors" in the Company's final short form prospectus dated
September 22, 2009 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put
undue reliance on forward-looking statements due to the inherent uncertainty therein.
To view the drill plan map and cross sections associated with this release, please click on the
following link: http://media3.marketwire.com/docs/GSLM0121.pdf.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Greystar Resources Ltd. - Contact in North America
Mr. Geoff Chater
VP
(604) 614-7830
www.greystarresources.com
OR
NCB Stockbrokers Limited - Contact in London
Christopher Caldwell
+44 (0) 20 7071 5200
Christopher.Caldwell@ncb.ie
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and
neither accepts responsibility for the adequacy or accuracy of this news release.
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Greystar Resources Ltd.