GROUNDSTAR RESOURCES LIMITED
Suite 1650, 717 7th Ave. S.W., Calgary, Alberta, T2P 0Z3
Telephone: (403) 265-2549
Facsimile: (403) 265-2558
NEWS RELEASE
GSA-TSX Venture Exchange
May 29, 2009
GROUNDSTAR RESOURCES LIMITED ANNOUNCES GRANTING OF INCENTIVE STOCK OPTIONS
Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited ("Groundstar") is pleased to announce that, subject to TSX Venture Exchange approval, Groundstar has today granted 975,000 incentive stock options to certain officers, directors, employees and consultants of Groundstar pursuant to its Stock Option Plan. These options will be exercisable at a price of $0.45 per share, fully vested by May 28, 2011 and will expire on May 28, 2014.
Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.
FOR FURTHER INFORMATION CONTACT:
Kam Fard
President & CEO
(403) 265-2549
kfard@groundstarresources.com
Jason Krueger, CFA
Investor Relations
Telephone: (403) 374-1234
jason@redwood-capital.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
