Canstar Completes Early Warrant Exercise Incentive Program With 100% Participation

(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - September 26, 2025) - Canstar Resources Inc. (TSXV: ROX) (OTCID: CSRNF) ("Canstar or the "Company") completed its early warrant exercise incentive program (the "Incentive Program"), as originally described in the Company's press release dated August 25, 2025, with 100% of its outstanding warrants exercised (the "Outstanding Warrants").

Under the Incentive Program, a total of 10,357,369 common shares (each, a "Share") of the Company were issued upon the exercise of 10,357,369 previously outstanding common share purchase warrants, resulting in aggregate gross proceeds of $517,868 to the Company.

Since their issue in January 2024, 100% of the 26,665,500 warrants have been exercised for gross lifetime proceeds of $1,333,275 to the Company.

For each Outstanding Warrant exercised under the Incentive Program, the holder received:

• One Share, as provided under the original terms of the Outstanding Warrant; and
• One additional common share purchase warrant (an "Incentive Warrant").

Each Incentive Warrant entitles the holder to acquire one Share at an exercise price of $0.07 for a period of 12 months from the date of issuance. A total of 10,357,369 Incentive Warrants were issued pursuant to the Incentive Program.

The Incentive Warrants are subject to an acceleration provision, whereby the Company may accelerate their expiry if the closing price of the Shares on the TSX Venture Exchange (the "TSXV") equals or exceeds $0.10 for ten consecutive trading days (the "Acceleration Event"). In such a case, the Company may elect to disseminate a news release announcing the Acceleration Event, and holders will have 30 calendar days to exercise their Incentive Warrants, after which any unexercised Incentive Warrants will expire.

Holders of 10,357,369 Outstanding Warrants issued on January 23, 2024 were eligible to participate in the Incentive Program. Following completion of the Incentive Program, no Outstanding Warrants remain available for exercise under their existing terms.

The proceeds from the Incentive Program will be used for general working capital purposes.

All Incentive Warrants issued under the Incentive Program are subject to a statutory four-month and one-day hold period from the date of issuance. Completion of the Incentive Program remains subject to final acceptance of the TSXV.

United States Securities Law Disclosure

The Shares issued upon exercise of the Outstanding Warrants and any Shares issuable upon exercise of the Incentive Warrants have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States or any other jurisdiction.

About Canstar Resources Inc.

Canstar Resources Inc. (TSXV: ROX) is an exploration company focused on critical minerals and gold in Newfoundland. The Company's 100%-owned Golden Baie Project (489.5 km2) hosts high-grade gold and antimony showings along a major mineralized structure that also hosts a large number of gold deposits. The Buchans and Mary March projects (120.5 km²) are located within the past-producing VMS zinc-, copper-, and silver-rich Buchans Mining Camp and boast high-grade zinc and copper discoveries.

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