CRYPTOSTAR CORP. ANNOUNCES BOARD APPOINTMENTS AND RESIGNATIONS

TSXV: CSTR

TORONTO, Feb. 21, 2023 /CNW/ - CryptoStar Corp. (TSXV: CSTR) ("CryptoStar" or the "Company"), a cryptocurrency mining and data centre operator, is pleased to announce the appointment of Messrs. Aurelio Useche and Christopher Malone to the Company's Board of Directors.

Mr. Useche leverages over 20 years of senior management experience including COO, CFO and CEO in several private and publicly traded corporations in manufacturing, mining exploration, consumer goods and entertainment. Mr. Useche is a CPA, CMA and a graduate of the executive MBA program at Queen's University School of Business. Mr. Useche is also a graduate of the Corporate Directors program at the University of Toronto's Rotman School of Business and of the Masters Certificate program in Risk Management program at York University's Schulich School of Business.

Mr. Malone is an experienced financial executive with a demonstrated history from working in a cross section of industries, with skills in corporate finance, public and private IFRS reporting, entrepreneurship, and investment banking. Mr. Malone graduated from The University of Western Ontario with a CPA designation.

David Jellins, President and Chief Executive Officer of CryptoStar states, "We are very pleased to welcome Aurelio and Christopher to the Company's Board. We look forward to working with the board members and the contribution they will make to CryptoStar through their collective experience and expertise in their respective fields."

In connection with the appointments of Messrs. Useche and Malone, the Company also announces the resignation from the Board of Warren Lorenz and Aly Madhavji. The Company thanks Messrs. Lorenz and Madhavji for their service and wishes them the best in their future endeavours.

Concurrent with the appointments of Messrs. Useche and Malone, the Company has granted each 600,000 incentive stock options. Each stock option will allow the holder thereof to purchase a common share of CryptoStar at a price of $0.05, with an expiry of ten years.

About CryptoStar Corp.:

CryptoStar has cryptocurrency mining operations with data centres located in the U.S.A. and Canada. CryptoStar is currently dedicated to becoming one of the lowest cost cryptocurrency producers in North America and a major supplier of GPU and ASIC miners worldwide.

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SOURCE CryptoStar Corp.

CryptoStar Corp., Attention: David Jellins, President and Chief Executive Officer, Email: [email protected], W: www.cryptostar.com