Groundstar Updates Drilling Program

CALGARY, AB / ACCESSWIRE / September 24, 2014 / Groundstar Resources Limited. ("Groundstar", "the "Company", "we", "us", or "our") GRDSF is pleased to announce updated well results from its multi-well Neilburg drilling program. The Mannville Colony wells which were drilled to depth at 700 meters, were completed and placed on production utilizing electro-submersible pumps. Current total production estimates from the multiwell program is 250 net barrels of 14 degree API oil per day to Groundstar with oil rates expected to cleanup. Further to Groundstar's press release dated November 13, 2013 and its agreement with a mid-sized Canadian exploration and production company to partner on a high-netback, multiwell program in the Western Canadian sedimentary basin, Groundstar has now participated in the drilling of four wells with 100% success rate to date in its core area. Given these encouraging results, Groundstar will appraise further development and continue to evaluate additional pool extension potential.

This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Groundstar Resources Limited

Incorporated in 1968, Groundstar Resources Limited is a diversified publicly traded oil and gas company with oil production and exposure to 7.3 million gross acres of resource assets. The Company is actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company's current portfolio of assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol "GSA" in Canada and "GRDSF" in the United States.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements within the meaning of applicable securities laws including expectations regarding the company's drilling and exploration plans, estimates of reserves and potential future production from analogous wells as well as government and third party approvals relating thereto. Forward-looking statements may include estimates, plans, anticipations, expectations, opinions, forecasts, projections, guidance or other similar statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Contact Information:

Groundstar Resources Limited, Suite 2300, 144 4th Avenue SW, Calgary, Alberta T2P 3N4

www.groundstarresources.com

Chad Dust Tyron Pfeifer

403.608.6505 or 403.265.2549 403.614.9902

cdust@groundstarresources.com tpfeifer@groundstarresources.com

NOT FOR DISTRIBUTION TO THE U.S.A. NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE U.S.A.

SOURCE: Groundstar Resources Limited.