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 October 8, 2015 - 11:13 AM EDT
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Groundstar Resources Limited Announces Revocation of Cease Trade Orders

CALGARY, ALBERTA--(Marketwired - Oct. 8, 2015) -

NOT FOR DISTRIBUTION TO THE U.S.A. NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE U.S.A.

Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA) is pleased to announce that, further to its most recent press release regarding the filing of all required financial statements, the Alberta Securities Commission ("ASC"), the British Columbia Securities Commission and the Ontario Securities Commission have granted a full revocation of the cease trade orders (the "CTO's") previously issued against the Company in September of 2015. The CTO's were imposed for the Company's failure to file its audited consolidated financial statements and management's discussion and analysis for the year ended April 30, 2015. The Company has now filed its audited consolidated financial statement and management's discussion and analysis for the year ended April 30, 2015 in addition to its consolidated interim financial statements and management's discussion and analysis for the three month period ended July 31, 2015. All of such disclosure documents are available for review online on the Company's profile on SEDAR at www.sedar.com.

The Company intends to immediately make an application to the TSX Venture Exchange for the trading suspension of the common shares of the Company to be revoked and shares reinstated for trading. The Company will issue a further news release regarding the anticipated timing of the resumption of trading in the near future.

About Groundstar Resources Limited

Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company's current portfolio of resource assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol "GSA" on the TSX Venture Exchange.

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 press release.

Groundstar Resources Limited
Tyron Pfeifer
403.614.9902
tpfeifer@groundstarresources.com

Groundstar Resources Limited
Murray Stodalka
403.532-6730
mstodalka@gmail.com
www.groundstarresources.com


Source: Marketwired (Canada) (October 8, 2015 - 11:13 AM EDT)

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