GSL Greystar

 
TIDMGSL 
 
Recognizing Higher Long Term Gold Outlook, Greystar Resources to Consider Alternative Processing Methods to Boost Economic Returns From Intermediate Sulphide Ore at Angostura 
FOR:  GREYSTAR RESOURCES LTD. 
 
TSX, AIM SYMBOL:  GSL 
 
November 2, 2009 
 
Recognizing Higher Long Term Gold Outlook, Greystar Resources to Consider Alternative Processing 
Methods to Boost Economic Returns From Intermediate Sulphide Ore at Angostura 
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2009) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) 
(the "Company") announced that the Company will initiate a program of metallurgical testing aimed at 
investigating the application of agitation leach and/or pre-oxidation as processing methods for 
intermediate sulphide ore at its 100% owned Angostura gold-silver deposit. Initial testing from both 
processing methods have shown promising results and further testing is warranted. In the Preliminary 
Feasibility Study published in May 2009, the intermediate sulphide ore (representing approximately 17% 
of the recovered gold in the mine plan) was designed to be heap leached which resulted in low 
recoveries of precious metals. Recent column testing using the intermediate sulphide ore to simulate 
heap leach conditions have returned recoveries that question the economic viability of only using heap 
leaching on this ore type. It is important to point out that column testing to simulate heap leach 
conditions on oxide and transitional ores continue to show very positive results. In addition, 
flotation testing for treatment of the higher grade sulphide ore to produce a gold bearing concentrate 
also continues to show excellent results. Given the improvement in the long term outlook for gold, the 
Company believes that the intermediate sulphide ore may be able to support a more robust processing 
method which may lead to higher economic returns for this ore type. The agitation leach and pre- 
oxidation testing programs will take approximately six months to complete, as such the Bankable 
Feasibility Study is now expected to be completed in the second half of 2010. The Company will 
continue with the design of the heap leach facilities for treating oxide and transitional ore as well 
as the grinding and flotation circuit for the higher grade sulphide ore. 
 
David Rovig, President & CEO commented, "Our Preliminary Feasibility Study was based upon $700 per 
ounce of gold during the first three years of operation and $650 per ounce of gold for the remaining 
twelve years. These gold prices limited our options for processing of the intermediate sulphide ore at 
Angostura which contains approximately 2 million ounces of gold. In the current gold environment, both 
agitated leach and pre - oxidation offer to increase recoveries and improve the economics of this ore 
type and the project as a whole. If either process is adopted, design modifications such as the 
inclusion of a tailings impoundment would need to be incorporated in the Bankable Feasibility Study. 
While this testing will delay the project, the Company will continue to move forward with all other 
aspects of the project including geotechnical evaluations, social and environmental studies, 
permitting, infrastructure construction and project finance." 
 
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 press release are "forward-looking" within the meaning of Canadian 
securities legislation. They include statements regarding the anticipated effect of the new 
appointments, estimated annual production and estimated mineral resources. 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 Company's final short form prospectus dated 
September 22, 2009 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. - Contact in North America 
Mr. Geoff Chater, VP 
(604) 614-7830 
www.greystarresources.com 
 
OR 
 
NCB Stockbrokers Limited - Contact in London 
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. 
 

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