09:11 AM EDT, 06/12/2025 (MT Newswires) -- Canstar Resources ( CSRNF ) said Thursday that it executed a letter of intent to form a strategic exploration partnership with TerraAI, an artificial intelligence company backed by Khosla Ventures.

The partnership will deploy AI to support $11.5 million exploration joint venture at Canstar's Buchans and Mary March projects in Newfoundland.

Canstar said the partnership will initially focus on the Mary March discovery hole.

"AI is transforming the world, and it holds the same potential to transform mineral exploration," said Juan Carlos Giron Jr., CEO of Canstar. "With TerraAI's capabilities, we can fuse vast geological datasets, generate targets at scale, and dynamically optimize drill testing."

Canstar's share price fell 8.3% on Wednesday to $0.055 on the TSXV.