Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - Glenstar Ventures Inc. (CSE: GSTR) (OTC Pink: GSTRF) (FSE: VO2) ("Glenstar" or the "Company") is pleased to announce that it has been granted a permit to conduct a drill program on the Green Monster Project in southwestern Nevada. Permitting covers three sites on the property allowing for multiple holes per site, the exact number of which will be announced upon finalization of the drill program plan in the coming days.

Project Background

The Green Monster Property is comprised of 35 federal lode claims covering ~700 acres located in Clark County, Nevada, on the west trending spur of the Spring Mountains and is approximately 40 miles southwest of Las Vegas.

1. Historical Workings

The Green Monster Project lies along a district scale fault fracture zone and is the locus of poly metallic veining and replacement of Paleozoic age carbonate rocks on the property, as well as the district area in general. The project was explored by underground shaft and raise workings that date to the late 1800's and early 1900's and is predominantly represented by an 80-foot main vertical shaft with raised workings or "offshoots" from the main shaft that begin horizontally and then slope upward to terminate at surface. These raised workings indicate a vein system, or systems, that were followed as part of an exploration plan at the time to determine the potential extent of mineralization.

These workings are documented in the USGS Mineral Resource Data System where the site is listed as a copper prospect, then known as the Desert Vally prospect, but is now called the Green Monster Project 100% owned by Glenstar. In addition to copper, elevated instances of zinc, silver, nickel, and cobalt are present in the mine faces and dumps that surround the main shaft and underground workings. This zone exhibits oxidized mineralization within the structure and nickel, cobalt, and copper dominating the footwall portion of the exposure. The workings were developed on an isolated outcrop at the base of a colluvial slope and the host structure is well exposed in the workings but is covered by alluvial and colluvial material along strike.

The Company's lode claims are attached to the patented mining claims that cover the historic underground workings of the Green Monster Mine located half a mile to the east. Owned by Hearst Corp., of the fabled Hearst mining and publishing family, the mine produced in excess of two million pounds of zinc over its lifetime along with small amounts of copper, silver, and lead. All significant mining and shipping of the Green Monster ore was completed by 1920, however, in 1942 the uranium bearing mineral rutherfordine was discovered in material on the dump but was never pursued. (U.S. Geological Survey Professional Paper 275 by D. F Hewett, 1956).

No drilling has ever been done on Glenstar's Green Monster Project, and there is no field or archival evidence of any modern exploration activities prior to the Company's identification of robust nickel-copper with highly anomalous cobalt from sampling work done by the Company in 2022. It is speculated that the shaft and raise workings were once part of the Green Monster Mine operation and the exploration work that was done was conducted by Hearst Corp. but never internally documented.

2. Recent Exploration Work

Glenstar acquired the Green Monster Property and conducted initial groundwork in 2022 that included reconnaissance geologic mapping, surface rock sampling, soil sampling, and a drone magnetic survey. Channel sampling across the exposed back of a raise off the main shaft returned 1.18 meters of 3.77% Cu (Copper), 3.06% Ni (Nickel), 0.21% Co (Cobalt) and 6.83% Zn (Zinc). These values are well in excess of select dump samples from historical underground workings and represent in-place, vein style mineralization.

Sampling of oxide and sulfide bearing boulders directly downhill of the patented workings has confirmed the presence of very high zinc (>10%) and silver (>200ppm), as well as copper, uranium, and lead.

Glenstar CEO Dave Ryan stated, "This is a very interesting property that is adjacent to a historical mine site that produced a significant amount of zinc without the benefit of modern mining techniques. Now that our drill permit is in place, we can finalize the drill plan and quickly work to mobilize our team on the property and see if the core results support our highly encouraging surface work to date."

About Glenstar Ventures Inc.

Glenstar is a mineral exploration company with a focus on polymetallic minerals. These elements are classified as critical minerals and are essential in the manufacturing of sophisticated electronics and other vital energy technologies. The Company's mission is to leverage its knowledge and connections to explore, acquire, and develop critical mineral and energy metal properties in predominant jurisdictions in North America, and throughout the world.

Glenstar's shares trade on the Canadian Securities Exchange (CSE) under the symbol "GSTR", on the Frankfurt Stock Exchange under the symbol "VO2", and on the Over the Counter market (OTCPK) in the United States under the symbol "GSTRF" Following its successful IPO, Glenstar has 24,082,379 shares issued and outstanding.

Robert Marvin, P.Geo (ONT) is the Qualified Person as defined by National Instrument 43-101 who has examined the property and directed all exploration activities on the property since initial staking in January 2022.

ON BEHALF OF THE BOARD

David Ryan
President & CEO

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.

We seek safe harbour.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240388