Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

November 19, 2007 08:00 ET

Redstar Gold Aqcuires Property Near the Pipeline Mine on the Cortez Trend in Nevada

Historic Drilling: 21.3 metres grading 2.3 g/t gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce the acquisition of a new gold exploration project in central Nevada. The project, Cooks Creek, consists of approximately 5 square miles of 100%-owned unpatented mining claims covering an area of outcropping sediment-hosted gold mineralization about 8 miles west of the Pipeline mine. Cooks Creek lies along the Battle Mountain - Eureka mineral belt, also referred to as the Cortez trend. The Pipeline and adjacent Cortez and Cortez Hills Carlin-type gold deposits contain more than 20 million ounces of gold (production plus reserves/resources); the mines are operated by the Cortez Joint Venture (Barrick Gold Corporation and Kennecott Explorations Australia Ltd.).

Scott Weekes, president of Redstar, states: "Cooks Creek is another project acquired as a direct result of the AngloGold Ashanti database agreement signed by Redstar in 2005. Our growing portfolio of Nevada projects is a testament to the value of this database. Redstar is extremely pleased to have acquired a project in the Cortez trend, only 8 miles from the Pipeline deposit, with gold values at surface and in historic drill holes."

The main gold zone at Cooks Creek covers an area of at least 2,900 by 2,500 feet (890 x 760m) with surface rock-chip assays reaching 1.26 g/t gold. The area contains strongly anomalous arsenic, mercury, and antimony (which locally occurs as stibnite), elements that are characteristic of productive Carlin-type gold deposits. Mineralization is hosted by an intrusive rhyolite plug and adjacent silicified siltstone and chert.

Historic drilling also intersected gold mineralization, including 70 feet (21.3m) grading 0.068 opt gold (2.317 g/t) from 60 to 130 feet. Analysis of the historic work indicates that the mineralization remains open along a probable northeast-striking structural zone. Redstar has also identified a gold anomaly about 3,000 ft (900m) south of the main gold zone; rock samples in this second area reach 778 ppb gold (0.023 opt). Redstar is continuing its analysis of the historic data and plans to continue field investigations.

Redstar's U.S. Exploration Manager, Dr. Jacob Margolis, notes: "We are very excited to bring this quality gold project to our portfolio, and we now have projects along both the Carlin and Battle Mountain world-class gold trends. The position of Cooks Creek along the Battle Mountain trend, the presence of gold mineralization associated with intrusive rocks, the strong structural features, and the trace-element signature are very prospective. I'm confident in the potential of the project to yield additional gold mineralization, especially with integration of the strong structural elements of the project."

This release has been reviewed by Dr. Jacob Margolis, Exploration Manager for Redstar and the Qualified Person as defined by NI-43-101.

About Redstar Gold Corp.

Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario. For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.

On Behalf of the Board,

Redstar Gold Corp.

Doug Fulcher, Director

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

Contact Information

  • Redstar Gold Corp.
    Doug Fulcher
    Director
    (604) 488-0051
    (604) 488-0053 (FAX)
    Website: www.redstargold.com