Gold Star Resources Corp. (Stock Symbols:  TSX-V; GXX; OTC Bulletin Board: GXXFF.PK)

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November 20, 2009 Issue

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GOLD STAR RESOURCES CORP. IS ONE OF THE FIRST ONSHORE OIL AND GAS EXPLORATION COMPANIES IN WEST AFRICA IN THE PAST 30 YEARS WITH GOVERNMENTS IN WEST AFRICA MORE DEMOCRATIC AND OPEN TO ENERGY RESOURCE OPPORTUNITIES

Patrick C.T. Morris
President, CEO and Director

Mr. Morris 40, is President of Vimoris Ventures Inc, a company which provides management consulting, corporate finance, business development and investor relations services to public and private companies. Mr. Morris is currently the President, CEO and Director of Gold Star Resources Corp (TSX-V GXX), and has served on the board and managed several exploration companies from incorporation to final listing on the TSX Venture Exchange. Mr. Morris has also enjoyed success in the field of marketing as a specialist in financial programming and advertising for public companies in the media.

Gold Star Resources Corp.

An oil and gas exploration company

Stock Symbols:  TSX-V; GXX; OTC Bulletin Board: GXXFF.PK

Phone:  1+604-641-4450

Website:  www.goldstarresources.com

Interview conducted by: Walter Banks, Publisher, CEOCFOinterviews.com, Published November 20, 2009
 

CEOCFO: Mr. Morris, what is the vision for Gold Star Resources and its West Africa oil and gas exploration goals?

Mr. Morris: Gold Star Resources is a junior resources company that started out originally in mining. However, we recently investigated energy resource opportunities in West Africa in the oil and gas markets. Our research revealed the potential for both offshore and onshore oil discoveries in West Africa. Obviously, we saw the recent discovery of West Africa’s largest oilfield, the Jubilee field offshore in Ghana, a 1.8 billion barrel discovery by Tullow Oil and Kosmos Energy. With Ghana’s Jubilee field success, Gold Star quickly initiated a plan to pursue its own onshore oil land strategy. It recently signed a Letter of Intent with Bengal Bight Ghana Ltd. to acquire 100% interest in the hydrocarbon rights of Bengal’s 1,000 sq. km. Tiampoum mining concession in Cote d’Ivoire, near the border of Ghana. It also recently acquired 90% of International Resources Strategies Liberia Energy Inc. whose sole asset is the onshore 1,366 sq. km. hydrocarbon reconnaissance license NR-001 within the Roberts and Bassa Basins of south coastal Liberia. The company’s mission is to continue to pursue highly prospective oil and gas projects in the petroleum systems in Liberia, Cote d’Ivoire and Ghana. I’m proud to say that Gold Star Resources is one of the first junior resource companies to go after onshore oil and gas in West Africa in over 30 years. Our vision is to secure a portfolio of sections of land or blocks along the coast of West Africa.

CEOCFO: There have been a few companies that have made the leap from mining to oil and gas; is this a trend or just something that Gold Star Resources wanted to do?

Mr. Morris: The decision to go into oil and gas wasn’t because of a trend per se. We saw an opportunity in West African oil markets especially onshore and did our due diligence to confirm that opportunity. Once we identified the West African oil market, we then proceeded to attract a new Board of Directors with extensive oil and gas exploration experience on the African continent. This new Board of Directors now provides us with the kind of superior management oversight needed to aggressively pursue our West African oil and gas exploration game plan.

CEOCFO: Would you tell us about the experience of these directors?

Mr. Morris: For example, we have Jim Dick, one of the best geologists in the world with over 43 years of petroleum experience. Gold Star’s goal is to pursue onshore oil and gas opportunities in Liberia. Jim Dick was the lead geologist for one of the major resource companies in Liberia over 30 years ago. The second Board Member is John King Burnes. John is a former managing director and global head of structure derivative finance for Barclay’s PLC London. We also have Charles DeChezelles with an extensive background in finance with First Boston Europe. Charles was general manager and vice president with First Boston Corporation in New York, as well as with Credit Swiss First Boston in London where he was executive director. Robert Dinning is now our Chief Financial Officer and Board Member with over 30 years financial experience with many top-tier resource and energy companies.

CEOCFO: Is Gold Star now exclusively an oil and gas company?

Mr. Morris: While we still have some mining assets, these will be phased out as we move aggressively forward as an oil and gas exploration company in Africa.

CEOCFO: Is there infrastructure in place on your properties and is the political climate now friendly to do what you’re doing?

Mr. Morris: With regard to infrastructure, Gold Star Resources is more focused on securing onshore oil and gas exploration assets and isn’t primarily focused at this early stage on production. As I mentioned earlier, we are essentially putting together a portfolio of blocks throughout West Africa and other parts of the African continent that we believe will be attractive to major oil producers. For a long time, West Africa had been off the radar of the international oil community because of messy politics and brutal civil wars. Today, however, West Africa is gaining global attention and prominence as a desirable destination for oil and gas exploration and production. The governments of many West African nations welcome new oil and gas exploration and have made it clear that their respective countries are now politically stable and democratic.

CEOCFO: Should you make a discovery, are you looking at partnering?

Mr. Morris: That is the beauty of getting into West Africa at this particular time. It is that blocks are very large and the opportunity is extremely good to farm in partners to help cover costs, so, yes, that is definitely an option high on our list.

CEOCFO: What is the financial picture like for Gold Star Resources today?  Do you have the funds to finance continued discovery or will you have to go to the Street to raise funds?

Mr. Morris: We will go to Wall Street to raise funds and in this business it usually comes part and parcel with what the outcome of your applications are in West Africa. We are, however, very confident in getting several production sharing agreements with some national oil companies. There are several African countries that once you have that on the agenda, you can immediately raise money. As soon as you have the production sharing agreements, then money won’t be an issue.

CEOCFO: In closing, address potential investors; why should they consider Gold Star Resources at this point?

Mr. Morris: Investors should take a closer look at Gold Star Resources because we are one of the only junior resource companies aggressively pursuing an oil land strategy in onshore West Africa.  We are a pioneer in onshore oil and gas exploration.  We believe that Africa today in terms of its energy resources is what Asia was in the 1980s as an attractive early investment opportunity.  Furthermore, we ask all investors to review our Board of Directors and their respective experience in the fields of finance and oil and gas exploration on the African continent.

disclaimers

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WE BELIEVE AFRICA TODAY IN TERMS OF ITS ENERGY RESOURCE POTENTIAL IS WHAT ASIA WAS IN THE 1980S AS AN ATTRACTIVE EARLY INVESTMENT OPPORTUNITY.  FURTHERMORE, WE ASK ALL INVESTORS TO REVIEW OUR BOARD OF DIRECTORS AND THEIR RESPECTIVE EXPERIENCE IN THE FIELDS OF FINANCE AND OIL AND GAS EXPLORATION ON THE AFRICAN CONTINENT. - PATRICK C.T. MORRIS