Montreal - Vanstar Mining Resources Inc. (TSXV: VSR) (OTCQX: VMNGF) (FSE: 1V8) ('Vanstar', or the 'Company') is pleased to announce assay results from the 2022 winter diamond drill program consisting of 4,714 meters in 8 holes on the Nelligan joint venture project (IAMGOLD Corporation ('IAMGOLD'): 75%, Vanstar: 25%) completed by its partner IAMGOLD.

The Company reported that nearly all the holes have intercepted multiple wide intercepts of gold mineralization at higher-than-average grades.

J.C. St-Amour, President and CEO, said, 'The winter drilling program has been a complete success, confirming that gold resources can be added at depth and along strike. Most encouraging is the fact that the deposit remains open in all directions, especially at depth, where we are seeing some holes return better than average grade and widths, suggesting there is ample room for additional expansion and growth.'

The Nelligan Gold project (on a 100% basis) hosts Inferred Mineral Resources containing 3.2 million ounces of gold grading 1.02 g/t Au.

Nelligan Next Steps

The summer exploration program is underway and will evaluate other priority targets on the exploration property with focused geological mapping programs supported by geochemical and geophysical surveys as merited. Along with field work the geological, geochemical and structural models have been updated with the latest drill results and will support an updated resource estimation for the Nelligan project projected for the end of 2022.

Stock Option Distribution

In addition, following its recent Annual General Meeting, the Company announces that the board of directors has conducted its annual compensation review and will grant 2,625,000 options to officers, directors, and consultants to the company pursuant to its stock option plan. Given the coincident timing of the Nelligan results, the options will be granted effective July 8, 2022, will be exercisable for a period of 5 years at a price equivalent to the closing price of the Company's stock on the TSX-Venture Exchange on July 8, 2022, and vest immediately.

About Vanstar

Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Quebec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the 'Discovery of the Year' award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar is also earning 75% into the Bousquet-Odyno project located along the Cadillac Break and owns 100% of the Felix property in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property), the Amanda property, a 7,306 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters, and the Frida and Eva properties located in the James Bay area.

Contact:

Tel: +1 (647) 296-9871

Email: jc@vanstarmining.com

Web: www.vanstarmining.com

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

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