Greystar Resources Disappointment at Early Termination of Public Hearing in Bucaramanga


 
TIDMGSL 
 
Greystar Resources Disappointment at Early Termination of Public Hearing in Bucaramanga 
FOR:  GREYSTAR RESOURCES LTD. 
 
TSX, AIM SYMBOL:  GSL 
 
March 7, 2011 
 
Greystar Resources Disappointment at Early Termination of Public Hearing in Bucaramanga 
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - 
 
- The Company will continue with its policy of disclosing all relevant technical, social and environmental 
information about the Angostura Project. 
 
- Greystar remains keen to find platforms that allow for the discussion and analysis of all the ongoing 
concerns regarding the Angostura Project with interested parties. 
 
Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) expresses disappointment over the early 
termination of the March 4th, 2011 environmental public hearing with respect to the Angostura Project (the 
"Project"). This hearing was scheduled by the Ministry of the Environment, Housing and Territorial 
Development (MAVDT) as part of the ongoing application process for securing the environmental permit 
necessary for the Project. The purpose of the hearing was to obtain public testimony or comments on the 
Project's Environmental Impact Study. 
 
Unfortunately confrontations during the event resulted in the representatives of the Ministry of Environment, 
Housing, and Territorial Development cancelling the public hearing after 28 of the inscribed 470 statements 
had been heard. 
 
Greystar was joined at the Public Hearing by the various national and international companies that assisted 
in the development of the Environmental Impact Study and its related studies. The collected efforts of these 
companies, which include AMEC (Canada, Australia and Chile), GRD Minproc (Australia and Chile), Ausenco- 
Vector (Peru), NCL Ingenieria and Metallica Consultores (Chile), Schlumberger Water Services (England and 
Chile), McClelland Laboratories (USA), SGS Laboratories (Canada, Chile and South Africa), G&T Metallurgical 
Services (Canada), Knight Piesold (Chile), ESA (Colombia), ISA (Colombia), Ingetec (Colombia), Ingeorriesgos 
(Colombia), Estudios T-rural (Colombia) and Strathcona Mineral Services (Canada), have helped to fashion a 
safe, responsible, environmentally and socially sustainable project for the Department of Santander. 
 
These international experts were expected to present their respective statements and supporting reports but 
did not have the opportunity to do so. 
 
Steve Kesler, President and CEO commented: "We thank all of those who were willing to listen and convey their 
points of view, including those expressing concerns and opposition on the project. However, the spirit of 
respectful dialogue necessary to understand concerns so that they can be addressed was missing at this 
hearing. Clearly there are divisions within communities and within authorities on this project. Greystar will 
only develop a project with the support of both. We will work with the relevant authorities in the review of 
the project in order to determine whether modifications are possible that address concerns whilst ensuring an 
economically viable and environmentally sustainable project." 
 
Greystar Resources will complete all necessary steps to ensure that the Angostura Project will not affect the 
water supply or its quality to the town of Bucaramanga, the surrounding metropolitan area, or the North Soto 
Province. We shall continue to inform citizens fully about our proposed mining project and to encourage an 
understanding that responsible mining can bring considerable economic and social benefits, not only to the 
region, but to the country as a whole." 
 
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. 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Greystar Resources Ltd. 
Victoria Vargas, Vice President 
Investor Relations and Corporate Communications 
+1 (416) 572-2139 or +1 (289) 242-3599 
ir@greystarresources.com 
www.greystarresources.com 
 
OR 
 
Renmark Financial Communications Inc. - Investor Relations 
John Boidman 
+1 (514) 939-3989 or +1 (416) 644-2020 
jboidman@renmarkfinancial.com 
www.renmarkfinancial.com 
 
OR 
 
NCB Stockbrokers Limited - London NOMAD 
Christopher Caldwell 
+44 (0) 20 7071 5200 
christopher.caldwell@ncb.ie 
 
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. 
 
 
 
 
Greystar Resources Ltd.
Greystar (LSE:GSL)
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