Megastar’s Board of Directors Approves Name Change of The Company to Madoro Mining and Names Brian Ostroff as Executive Chair

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Vancouver, BC, Canada, January 21, 2021 – Megastar Development Corp. (“Megastar”, or the “Company”) (TSX-V: MDV; Frankfurt: M5QN; OTC: MSTXF) announces that its Board of Directors (the “Board”) has approved a name change to Madoro Metals Corp., subject to approval from the TSX Venture Exchange. Management believes the new name better reflects the focus of the Company as a Mexican-centric explorer, pursuing opportunities around the Sierra Madre de Oaxaca (“Mad”) for precious metals (“oro”) exploration.

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