January 25, 2010 – Vancouver, BC: Gold Star Resources Corp. (the “Company”) (GXX – TSX.V) is pleased to announce that it has arranged, subject to the approval of the TSX Venture Exchange, a private placement of up to 5,000,000 units at $0.07 per unit for total gross proceeds of up to $350,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into an additional common share for a period of two years at a price of $0.15 per share.
The proceeds of the placement will be used for general working capital.
Finder’s fees may be payable in whole or part on the private placement in accordance with the policies of the TSX Venture Exchange.
The Company also advises that the directors have approved a change of company name to Simba Energy Inc. The change of name is subject to the acceptance of the TSX Venture Exchange.
On Behalf of the Board,
President and CEO
For further information, contact Robert Dinning, President and CEO of the Company at:
email@example.com Telephone: (604) 641-4450 Facsimile: (604) 669-9335
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”