TSX-V:
DSR
VANCOUVER, May 20, 2015 /CNW/ - (TSXV: DSR)
("Desert Star" or the "Company") is pleased to
announce the appointment of R. Stuart
(Tookie) Angus to the Company's advisory board. Mr.
Angus is an independent business advisor to the mining industry and
is presently a director of Wildcat Silver Corp. and Chairman of
Nevsun Resources Ltd. He was formerly Head of the Global
Mining Group for Fasken Martineau. For the past 30 years, Mr. Angus
has focused on structuring and financing significant international
exploration, development and mining ventures. More recently, he was
managing Director of Mergers & Acquisitions for Endeavour
Financial and was responsible for merger and acquisition mandates.
Mr. Angus is the former Chairman of the Board of BC Sugar Refinery
Limited, he was a Director of First Quantum Minerals until
June 2005, a Director of Canico
Resources Corporation until its takeover by Brazil's CVRD in 2005, a Director of Bema Gold
Corp. until its takeover by Kinross Gold Corporation in 2007, a
Director of Ventana Gold Corp. until its takeover by AUX Canada
Acquisition Inc. in 2011 and a Director of Plutonic Power
Corporation until its merger with Magma Energy Corp. in 2011.
The Company would also like to announce a private placement (the
"Private Placement") for gross proceeds of $115,000, through the issuance of units (each a
"Unit") of Desert Star, at a price of $0.15 per Unit. Each Unit is comprised of one
common share and one transferable common share purchase warrant (a
"Warrant"). Each Warrant entitles the holder to acquire one
additional share of Desert Star for a period of two years from the
date of issuance at a price of $0.25
per share. Mr. Tookie Angus
will be subscribing for $100,000 of
this financing.
Desert Star will pay finder's fees in accordance with TSX
Venture Exchange policies. Proceeds of the Private Placement will
be used for the continued exploration of Desert Star's properties
and for general working capital purposes. All securities
issued pursuant to the Private Placement will be subject to a four
month and a day hold period.
On behalf of the Board of
DESERT STAR RESOURCES LTD.
"Vince
Sorace"
Vince Sorace
President and CEO, Desert Star Resources Ltd.
Neither the 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.
SOURCE Desert Star Resources Ltd.