Greystar Resources Ltd.: Information Hearings on The Angostura Project Were Held in the Municipalities of California and Vetas, Santander, Colombia

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/10 -- Greystar Resources Ltd. (TSX: GSL)(AIM: GSL) (the 'Company'), as part of the process established by the Ministry of Environment, Housing and Territorial Development (MAVDT) to consider the Angostura Project's Environmental Impact Study ('EIS'), held two informational hearings regarding the project on November 3rd and 4th, 2010 in the municipalities of California and Vetas located in the department of Santander, Colombia.

In accordance with current regulations, the information hearings were convened by the MAVDT as part of the formal consultation process so that the communities of California and Vetas and other communities in the area along with other interested parties, had the opportunity to learn in depth the technical details of the future development of the Angostura Project and its social, economic and environmental impact.

The information hearings allowed the communities of California and Vetas and other interested stakeholders the opportunity to raise their questions and concerns. During the hearings lasting seven-hours, the communities showed keen interest in the project, and all the concerns raised by the attendees were addressed by our technical and social responsibility teams.

The Public Hearing will be held on November 21st, 2010 in California, Santander, the town closest to the project site, at 9:00 am local time and will give the Company the opportunity to present the Project while providing interested stakeholders a platform to further voice their opinions.

Steve Kesler, President and CEO commented: 'The completion of the information hearings represents another step forward for the Angostura Project. The Company is working closely with the relevant government departments and key stakeholders to ensure that the approval process continues to progress smoothly.'

Greystar follows a policy of complete transparency and frankness. We are committed to establishing a biodiversity offset program that ensures no net loss of biodiversity. We will utilize leading technology to minimize water use and ensure no impact on water supply or quality to downstream users. Greystar is also a signatory of the International Cyanide Management Code. Citizen participation has been invited in the environmental monitoring of our operation.

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this news release are 'forward-looking' within the meaning of Canadian securities legislation. They include statements about the estimated annual production from the Angostura Project.. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, government regulation as well as other risk factors set out under the heading 'Risk Factors' in the Annual Information Form dated March 26, 2010 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Contacts:

Greystar Resources Ltd.

Victoria Vargas, Vice President Investor Relations

and Corporate Communications

+1 289 242 3599
info@greystarresources.com
www.greystarresources.com


Renmark Financial Communications Inc.

John Boidman

Investor Relations Contact

+1 514 939 3989 or +1 416 644 2020
jboidman@renmarkfinancial.com
www.renmarkfinancial.com


NCB Stockbrokers Limited

Christopher Caldwell

London NOMAD Contact

+44 (0) 20 7071 5200
christopher.caldwell@ncb.ie