August 11, 2011
Greystar Awards Contracts and Sets Time Line for Angostura Feasibility Study
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Greystar Resources Ltd. (TSX:GSL) ("the Company" or "Greystar") is pleased to announce that technical contracts have been awarded and a time line has been established to complete a feasibility study for an underground only operation at its Angostura gold-silver project in northeastern Colombia.

Since the Annual Meeting on June 3, 2011, the new management team and Board of Directors have focused their efforts on the Angostura underground gold-silver project, including in particular the technical and regulatory milestones that must be achieved. In furtherance of these efforts, the Board of Directors has also decided to change the name of the Company, which announcement is forthcoming pending the finalization of regulatory approvals.

Further information on Greystar's sustainable social responsibility model is available at www.greystarresources.com.