Eagle Star Minerals Corp.
TSX VENTURE : EGE
FRANKFURT : E6R

Eagle Star Minerals Corp.

August 26, 2010 13:34 ET

Eagle Star Minerals Corp.: Geophysical Magnetometer Survey Indicates Continuity of Iron Formation on Cavaleiro Block

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2010) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(FRANKFURT:E6R) ("Eagle Star" or "the Company") - Further to its news releases dated June 10, 2010 and August 10, 2010 Eagle Star is pleased to provide an update on stage 1 of the exploration work program underway at its Angico Iron project in the State of Piaui, North East Brazil. The following work has been completed to date on the Serra do Cavaleiro block (Cavaleiro):

  • Ground magnetometer survey
  • Detailed geological mapping with chip sampling across Banded Iron Formation outcrops (BIF).

The ground magnetometer survey was carried out and interpreted by Reconsult Geofisica., a leading Brazilian geophysical company based out of Sao Paulo, Brazil whose clients include Vale, Codelco, Kinross, Iamgold, Brazauro, BHP-Billiton, and Yamana. Its 3-D modeling of the anomalies generated 8 major magnetic bodies with coincident trends and some with BIF outcrops over a distance of approximately 8 kilometres. These coincident trends suggest the BIF outcrops and the magnetic bodies are representing one BIF formation. Based on these modeling results six locations were recommended for drilling angle holes. The drill holes are designed to test the anomalies as well as coincident BIF outcrops. The Reconsult Geofisica report can be referred to on the Company's website: www.eaglestarminerals.com.

Analysis of representative grab samples collected from these BIF outcrops returned values from 17% to 69% Fe2O3. The BIF mineralization where fully exposed measures 25 metres wide and is typically comprised of alternating laminae of magnetite, hematite, martite, specularite, chert and jasper. Final results of the comprehensive chip sampling program are expected shortly.

Ground magnetometer surveys, geological mapping and sampling are now being completed on the Company's Morro do O block and Serrinha claims located 20 kilometres to the south-west-west of the Cavaleiro block. Results will be released upon receipt.

"We are very pleased with the results to date from the Cavaleiro block suggesting the presence of significant iron mineralization. We are now eagerly anticipating the chip sampling results from the BIF outcrops to further confirm the block's iron quality and future potential," commented Eran Friedlander, President and CEO of Eagle Star Minerals.

This news release was reviewed and approved by Mohan R. Vulimiri, M.Sc., P.Geo, who is qualified person under the NI 43-101 guidelines. Mr. Vulimiri is the senior advisor to the Company with respect to the company's Angico Iron project.

About the Company

Eagle Star Minerals Corp. is a Natural Resource company headquartered in Vancouver, British Columbia, focused on the acquisition, exploration and development of mineral properties in North and South America. The Company's shares are publicly traded on the TSXv under the symbol EGE and on Frankfurt Stock Exchange under the symbol E6R.F.

On behalf of the Board of Directors

EAGLE STAR MINERALS CORP.

Eran Friedlander, President

This press release contains certain forward looking statements which involve known and unknown, risks delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

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