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Groundstar Resources Appoints New Director and Grants Incentive Options

2008-07-17 18:43:00

CALGARY, ALBERTA–(EMWNews – July 17, 2008) – Kam Fard, Chief Executive Officer and Chairman of the Board of Directors of Groundstar Resources Limited (“Groundstar” or the “Company”) (TSX VENTURE:GSA) is pleased to announce the appointment of Kenneth D. Taylor to the Board of Directors of the Company.

Mr. Taylor was born and raised in Calgary, Alberta, and graduated from Victoria College at the University of Toronto (B.A) and the University of California Berkeley (M.B.A.).

Mr. Taylor had a distinguished career in the Canadian Foreign Service from 1959 to 1984 during which time he served in diplomatic posts at Guatemala, Detroit, Karachi, and the U.K. He also served as Director General, Foreign Trade Service in Ottawa, Ambassador to Iran and Consul General at the Canadian Consulate General in New York.

Upon his retirement from the Canadian Foreign Service, Mr. Taylor entered the private sector, becoming a Senior Vice President with Nabisco Brands Inc. and RJR Nabisco, Inc. in New York. Since 1991 he has been Chairman of the consulting firm of Taylor and Ryan in New York.

Mr. Taylor has extensive business experience at the board of directors level having served on the boards of Rockwater Capital, Hydro One, Security Biometrics, Devine Entertainment Corp., and Jaffra Cosmetics International. He presently serves on the advisory board of J. and H. Marsh and McLennan, and the board of SkyLink Aviation Ltd.

His civilian honors include the United States Congressional Gold Medal and is an Officer of the Order of Canada. He has received many awards including the State of California Medal of Merit, the Harry S. Truman Good Neighbor Award, 1980 Man of the Year International Press Club of New York, the Haas International Award, University of California, Berkeley, and many others.

He holds Honorary Doctorate degrees from Laurentian University, Dominican College of Blauvelt, State University of New York, St. Francis Xavier University, St. Lawrence University, and Victoria University at the University of Toronto.

He has served as a Trustee, and on the Boards of International House, National Multiple Sclerosis Society of New York, the Daniel and Florence Guggenheim Foundation, and the Center for the Study of the Presidency of New York. He has been a Board Councilor with the Carter Presidential Center in Atlanta.

Upon announcing his appointment Mr. Fard said, “We at Groundstar are very pleased that a person of Mr. Taylor’s renowned international experience and business reputation has joined our Board. Mr. Taylor has been an exemplary citizen and business leader. He will be a key factor and a major positive influence in our company’s business success and expansion in the years ahead.”

Mr. Taylor joins the Groundstar board presently comprised of Darryl Raymaker Q.C., former Canadian Ambassador to the United Arab Emirates Stuart McDowall and Mr. Fard.

Groundstar has granted incentive options to Mr. Taylor, to purchase 250,000 shares at an exercise price of $0.60 per share, expiring July 16, 2013.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.

FORWARD LOOKING STATEMENTS: All statements in this news release that are forward looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

For more information, please contact

Groundstar Resources Limited
Kam Fard
President & CEO
(403) 265-2549
(403) 265-2558 (FAX)
Email: [email protected]


Groundstar Resources Limited
Jason Krueger, CFA
Investor Relations
(403) 374-1234
Email: [email protected]

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