Five Star Diamonds Limited Announces Board Changes

TORONTO, Aug. 19, 2019 (GLOBE NEWSWIRE) -- Five Star Diamonds Limited (TSX-V: STAR) (the "Company" or "Five Star") is very pleased to announce the appointment of Ms Solongo Gunsendorj to the Company's Board as a Director with immediate effect.

Ms Gunsendorj is a Mongolian National with considerable experience in the resources sector across a range of commodities including copper, gold, coal, iron and hydrocarbons. Ms Gunsendorj is an executive at boutique Mongolian investment firm Garrison Capital Development (GCD). GCD is an established and successful venture capital firm that specializes in marketing and acquiring exploration and development assets, in the resource sector, and managing these assets through the developmental stages onto production. Ms Gunsendorj currently acts as an advisor and executive assistant to the Chairman of Steppe Gold, a Mongolian precious metals company listed on the TSX. Prior to joining GCD, Ms Gunsendorj was Head of Property Management at Mongolian Properties LLC. Mongolian Properties LLC is one of the leading real estate developers in Mongolia. Ms Gunsendorj graduated from Columbia College in Denver, Colorado with Bachelor of Science in Business Administration and is fluent in English and Mongolian.

Ms Gunsendorj's expertise and networks will make her an invaluable asset for the future progress and growth of the Company and we welcome her to the Board of the Company.

The Company also wishes to announce resignations of Mr. Aneel Waraich and Mr. Nicholas Pike from the Board of Directors.

The Company would like to thank Mr Waraich and Mr. Pike for their considerable time, services, and for the valuable contributions made during their tenure as directors.

On behalf of the Board

Matthew Wood
Chairman
Five Star Diamonds Limited

About Five Star Diamonds Limited

Five Star is a company incorporated under the Business Corporations Act (British Columbia) and its common shares are listed on the TSXV under the ticker symbol STAR. Five Star has been engaged in the identification, exploration and development of diamond properties in Brazil.
Five Star owns six diamond projects (the "Diamond Projects") in Brazil comprising an aggregate of 6 exploration licenses and applications across 7,786 hectares. To date, Five Star has conducted exploration programs on each of the projects with the Catalao, Verissimo, Riachao, Jaibaras and Maravilha projects showing diamond bearing kimberlites. The Company is focused on the development of sustainable kimberlite pipes and is not involved in alluvial diamond mining with its associated environmental issues.

For further information, contact:
Five Star Diamonds Ltd.
Matthew Wood, President and CEO
+1.647.981.1703
[email protected]

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