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Greystar Resources Announces Change of Officers and Directors

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Companies:Greystar Resources Ltd.
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GSL.TO 3.14 -0.03

Press Release Source: Greystar Resources Ltd. On Thursday April 14,
2011, 7:28 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2011) - Greystar
Resources Ltd. ("the Company") (TSX:GSL - News;AIM:GSL) announces it
has agreed with Amber Capital LP, a New York-based investment firm,
which controls approximately 18% of the Company's outstanding shares,
to change the members of its board of directors and the members of its
executive management team. Other shareholders, holding approximately
20% of the Company's outstanding shares, have advised the Company that
they support Amber Capital LP's position.

The Company has appointed Juan Esteban Orduz and Rafael Nieto Loaiza
(biographies below) to the Company's board of directors. The Company
also appointed Mr. Nieto Loaiza as President of the Company and David
Rovig as interim Chief Executive Officer to succeed Steve Kesler in
those roles.

It has also been agreed that at the Company's upcoming annual general
meeting , the incumbent directors, other than Messrs. Nieto Loaiza and
Orduz, will not stand for re-election and the Company will nominate as
directors certain additional individuals proposed by Amber Capital LP.
Further details on the annual general meeting will be announced to the
market in due course.

"This is an important step for the Company. The Company will focus on
reformulating the Angostura project in continued compliance with the
laws of Colombia and in a manner that is environmentally sustainable
and socially responsible to the people and the state of Santander,
whose concerns we understand and will address. That is our number one
priority," commented incoming President, Mr. Nieto Loaiza. "The path
for Greystar is very clear. The Angostura project will succeed only if
it truly benefits the people of Colombia - both the current and future
generations - by offering them a better life while maintaining their
land in a safe and sustainable manner," commented incoming board
member, Mr. Orduz.

The board of Greystar would like to thank Mr. Kesler for his efforts
as President and Chief Executive Officer in trying to advance the
Angostura project.

Rafael Nieto Loaiza (age 44)

Mr. Nieto Loaiza is an attorney, and a specialist in Constitutional
and International Law. He was the Vice Minister of Justice of
Colombia. Mr. Nieto Loaiza is a partner of Nieto & Cia, a firm with
more than 30 years of experience in legal assistance and business, and
president of NSG, a consulting firm specializing in environment
management and socio-political analysis. He is a Senior Director for
McLarty Associates and acts as its representative in Colombia. Mr.
Nieto Loaiza provides consultancy to governmental institutions and
international cooperation agencies, such as the International Finance
Corporation (IFC) and the World Bank, the Inter- American Development
Bank (IDB) and the United Nations Development Program (UNDP). Mr.
Nieto Loaiza has been an adviser of the Interior, Security and Defense
Ministries of Colombia, Costa Rica, El Salvador, Guatemala, Honduras,
Nicaragua, Panama, Paraguay and Uruguay. He has been a consultant for
the Swedish Agency for International Development Cooperation (SIDA),
the European Union Commission and the Inter-American Court of Human
Rights. He was program coordinator for the Inter-American Institute of
Human Rights, and the electoral observer of the Inter-American Center
for Electoral Promotion and Assistance. Mr. Nieto Loaiza has been a
consultant to several private and public institutions, including the
National Constitutional Assembly of Colombia and the International
Committee of the Red Cross (ICRC). He has been a university professor
in Colombia and Costa Rica and a visiting lecturer in various
countries in Europe and America. Mr. Nieto Loaiza is the author and
editor of several books and articles on security, defense, armed
conflicts and peace processes, human rights and international
humanitarian law.

Juan Esteban Orduz (Age 45)

Juan Esteban Orduz has extensive experience with sustainable mining
issues and corporate reorganizations since 1997, when he became Legal
Vice-President of the Cemex Group in Colombia after its entrance into
the Colombian market (Cementos Diamante S.A., Cementos Samper S.A.,
Central de Mezclas). Subsequently, during President Andres Pastrana's
administration, Mr. Orduz was Minister Plenipotentiary - Deputy Chief
of Mission of the Colombian Embassy in Washington D.C., where he was
instrumental in the creation, financing and implementation of Plan
Colombia, an ambitious cooperation program between Colombia and the
United States providing millions of dollars in investment for many of
the most relevant social programs in Colombia, as well as the fight
against illegal drug cultivation. After being invited by Harvard
University to be a fellow at its Weatherhead Center for International
Affairs, Mr. Orduz took his current position as CEO of Colombian
Coffee Federation, Inc. in New York. Mr. Orduz has been a strong and
consistent advocate of community and social, economic and
environmental sustainability issues. He has also served in several
corporate boards or represented companies such as Cementos Diamante
S.A. and Cementos Samper S.A., associations such as the National
Coffee Association and the Coffee Quality Institute in the United
States and charitable organizations, including as founder and chairman
of the American Friends of Fundacion Cardio-Infantil, which benefits
thousands of children with cardiovascular diseases in Colombia.

Additional information required to be disclosed under paragraph (g) of
Schedule 2 to the AIM Rules will be disclosed in a further
announcement shortly.

About Greystar Resources Ltd.

Greystar Resources is a precious metals exploration and development
company that owns the multi-million ounce Angostura gold-silver
project in north-eastern Colombia. Following permitting difficulties
associated with its original open pit/heap leach proposition, the
Company is currently working on completing its NI-43-101 resource
calculation in advance of a pre-feasibility study to examine the
viability of an underground operation.

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.


On Apr 25, 2011, at 11:06 AM, Jay Rouse wrote:

> Hey Guys,
>
> Orduz is the guy who has been head of Colombia Coffee Growers, we
> are very close. He is wired in Colombia and will be
> doing more deals. Do you guys want to meet with him, he is
> interested in meeting with you.
>
>
>
>
> Jay Rouse
> Strategic Campaigns International
> 1010 Wisconsin Avenue, NW suite 705
> Washington, DC 20007
>
> Office -- +1 202 446 - 0484
> Cell -- +1 202 262 -3196
>
>
>
>
>

Jay Rouse
Strategic Campaigns International
1010 Wisconsin Avenue, NW suite 705
Washington, DC 20007

Office -- +1 202 446 - 0484
Cell -- +1 202 262 -3196