Vanstar Mining Resources Inc. announced the acquisition of 31 mining claims from Osisko Metals Inc. to extend the 100% owned Felix Property, by more than 99%, located on the Chicobi Group formation, Abitibi Gold Belt (Québec, Canada). The acquired claims are located directly Southwest and contiguous to the current Felix property. The new merged property will be formed of 69 claims and cover approximately 3,259.6 ha. The sector under study is located in a pile of rocks of volcanosedimentary origin of Archean age. The property is mainly underlain by the rocks of the Chicobi Group. The northern half of the property is underlain by intermediate to felsic volcanic rocks while the southern half contains foliated turbiditic graphitic mudstone and sandstone, with minor banded magnetite-chert iron formation and hematite-jasper iron formation, and conglomerate. A large Algoma-type iron formation is present in the north part of the Property. The lithologies are roughly ENE-WSW oriented and dipping more or less vertically. The Property has been explored in the past for iron following the aeromagnetic survey from Geological Survey of Canada. In 1949, sampling and metallurgical testing was done to verify the grade and the metallurgical recovery of the iron. In 1957, 1 diamond drilled hole was drilled to verify the Iron formation. More work was done on this iron formation on the adjacent Felix property owned by the company. After the publication of the Input Mark IV electromagnetic survey in 1972 by the Ministère de l'Énergie et des Ressources naturelles, mining companies started to explore for base metals. A cluster of electromagnetic conductors occurs at the southern tip of the iron formation. Ground follow-up by Noranda identified two electromagnetic conductors that were never drilled, although Noranda's geologists recommended drilling to verify these two conductors. The electromagnetic conductors occur at the tip of a large iron formation. They occur at what may be a fold hinge where the iron oxides would have been transformed to iron sulphides thus explaining the presence of these two conductors. In 1977, a gold discovery was made by Amax in a similar cluster of electromagnetic conductors at the other end of the iron formation on the Felix property. Drill hole 728-06-01 intersected 9 intervals of 1.5 meters each, taken in a section of 70 meters along the hole, had revealed gold grades varying from 0.9 g /t Au to 1.8 g /t Au Banded iron formation (BIF)-hosted gold deposits are structurally controlled stratabound deposits that represent one of the main targets for gold exploration in the northern part of the Precambrian Canadian Shield as demonstrated by current producers such as the Musselwhite (Newmont), Meadowbank and Meliadine mines (Agnico-Eagle). The Company will pay $50,000 to Osisko Metals Inc. for the acquisition of 100% of the claims: $25,000 in cash and 17,730 shares of Vanstar emitted at a price of $1.41 per share. Osisko Metals Inc. will retain a 2% Net Smelter Return (NSR) on the claims. Vanstar can buy back 50% of the NSR (1%) for a cash payment of $1,000,000. The deal is subject to the final approval of the TSX Venture.