AccelRate Power Systems Inc.
FRANKFURT : KCG
TSX VENTURE : AXP

AccelRate Power Systems Inc.

March 17, 2011 17:00 ET

AccelRate Acquires Options on Thirteen Key Yukon Gold Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - AccelRate Power Systems Inc. (TSX VENTURE:AXP)(FRANKFURT:KCG) is pleased to announce that it has entered into option agreements entitling it to acquire a 100% interest in thirteen recently staked Yukon gold exploration prospects in Canada's Yukon Territory. These new projects comprise a total of 1662 mineral claims (approximately 35,000 hectares). They have been carefully selected to cover specific geochemical targets and favourable geology in all areas of the Yukon where significant discoveries have recently been reported, giving the Company excellent exposure to all of the major exploration plays in the Territory at this time. Including the recently optioned LUCKY STRIKE property located approximately fifteen kilometers east of Kinross's Golden Saddle deposit, AccelRate now has options on 1881 Yukon mineral claims totalling more than 39,000 hectares. The options are all subject to acceptance by the TSX Venture Exchange.

Upon completion of the Change of Business ("COB") announced by AccelRate on November 24, 2010, and subject to regulatory approval, AccelRate intends to change its name to "Goldstrike Resources Ltd." and become a pure gold explorer. The Company continues to evaluate other property opportunities that fit its aggressive growth and exploration strategy for this emerging new gold district.

ATAC OSIRIS AREA - CARLIN MODEL

AccelRate's new prospects include the RACKLA and STEN NW claims, which are contiguous with ATAC's Osiris discovery property, where long intersections of Carlin-style mineralization have been reported in limy horizons within Hyland Group sedimentary rocks that have a wide distribution east of the Tintina Fault. Macquarie Capital Markets has described ATAC's discovery as a new Carlin-type gold district (Newsletter September 16, 2010). The RACKLA prospect, equidistant from the Rau and Osiris discoveries, covers the headwaters of an anomalous creek draining the same rock units that host ATAC's Rau and Osiris discoveries, while the STEN NW prospect covers anomalous gold in creeks draining in every direction from a central ridge approximately 11 km northwest of the Osiris drilling.

Following ATAC's recent news releases, Carlin Gold, Golden Predator and others have staked large areas of Road River and Hyland Group rocks to cover similar anomalies farther south in the Hess River area. AccelRate's EMERALD option covers an area of highly favourable geology and geochemistry located directly between two large blocks of Carlin Gold claims, immediately east of Golden Predator's holdings. AccelRate's SUMMIT option covers the possible source of strong gold, arsenic, and antimony anomalies in Hyland Group rocks near the Northwest Territories border. Anomalous thallium is also present. This area is largely unexplored, but appears to be highly prospective based on geology and geochemistry.

KAMINAK COFFEE CREEK/KINROSS GOLDEN SADDLE (WHITE GOLD) AREA - OROGENIC MODEL

AccelRate's ARIES option covers the inferred source of gold and arsenic anomalies on trend with the Coffee Creek discovery, where Kaminak has recently reported numerous long, high grade gold intersections from structurally controlled orogenic vein systems within a broad, 43 km long corridor in a largely unexplored metamorphic terrain. The ARIES property is less than 5 km from the nearest strong gold anomalies on Kaminak's Apollo property at the northwest end of the Coffee Creek trend.

AccelRate's BR option covers ground which has returned anomalous gold values on a short tributary of Coffee Creek 14 km southwest of Kaminak's discovery. The BR claims tie on to the southwest side of the Boulevard property, where Silver Quest Resources Ltd. recently reported an encouraging 18 m long gold intersection in the same rocks, parallel to the main Coffee Creek trend.

AM GOLD RED MOUNTAIN-VICTORIA GOLD DUBLIN GULCH AREA - INTRUSIVE MODEL

AccelRate's ARIZONA option covers strong gold-arsenic anomalies and active placer claims only 3 km west of AM Gold's Red Mountain deposit, and 50 km west of Victoria Gold's Dublin Gulch deposit. Gold in these deposits occurs in structurally controlled vein systems that are independent of host rock type, and are believed to be related to mid-Cretaceous intrusive activity that is widespread in Yukon and Alaska. The Red Mountain deposit remains open in all directions, and the gold is associated with quartz-sulphide veins in a northwest-trending fault zone that projects onto the ARIZONA property, which is the subject of another of the options acquired by AccelRate.

AccelRate's OLIVER option property (401 claims) is contiguous with Golden Predator's extensive Scheelite Dome property (best drill intersection to date 25.40 m grading 11.12 g/t Au), and covers several placer creeks as well as the inferred source of four gold geochemical anomalies (highest value 65 ppb Au). Both the ARIZONA and OLIVER properties cover Hyland Group metasedimentary rocks that may also have potential for Carlin-style mineralization. Both properties have direct road access.

ROCKHAVEN KLAZA AREA - HIGH SULPHIDE EPITHERMAL VEIN/BRECCIA MODEL

AccelRate's STRIKE option property is located in the Nansen Gold Camp, 28 km northwest of the former high grade gold producer. It is 10 km northwest of Rockhaven's Klaza property, where four parallel gold-mineralized zones have been defined within a 1500 m wide northwest-trending structural corridor, and drill holes have intersected grades as high as 7.2 g/t Au and 260 g/t Ag over 15.3 m. The STRIKE property covers a 500 ppb gold anomaly and three other gold silt anomalies on trend with the Rockhaven gold corridor. It is contiguous with the BBB claim block, where Wolverine Minerals has documented numerous strong silt and soil anomalies that follow multiple linear structures. The STRIKE property has very similar geology to the Rockhaven and Wolverine properties, and can be accessed by a trail along the Klaza river.

OTHER PROPERTIES - KAMINAK COFFEE CREEK OROGENIC MODEL

AccelRate's ROSEBUD SOUTH, CHANCES, LIVINGSTONE and MORLEY options cover strong gold anomalies in Yukon-Tanana Terrane metamorphic rocks similar to those hosting the Golden Saddle and Coffee Creek discoveries. The ROSEBUD SOUTH and CHANCES properties are located in the Stewart River area east of Kinross's Golden Saddle deposit, and the LIVINGSTONE property covers several of the main placer creeks in the Livingstone gold camp. The MORLEY property covers the inferred source of two gold silt anomalies at the upper detection limit of the government's regional stream sediment geochemical survey (>99.9 ppb Au), as well as three other gold silt anomalies in the Morley Lake area south of Whitehorse. ROSEBUD SOUTH is located in an active placer mining area with direct trail access, LIVINGSTONE is accessible by winter road from Whitehorse and is served by an all weather airstrip, and MORLEY is less than 10 km off the Alaska Highway. With favourable geology and geochemistry, these properties have the potential to open up new areas to discoveries of the Coffee Creek type.

OPTION TERMS

The thirteen options are the subjects of thirteen different arm's length agreements entered into with a private staking syndicate. The Company has entered into thirteen separate agreements in order that it may pursue each of them independently. The essential terms of each option are as follows:

1. The Company may exercise each option by making cash payments, issuing shares and incurring exploration expenses as follows, and may issue shares in lieu of cash for the second, third, fourth and fifth payments:

On or Before (Date) Cash Shares Exploration Expenses
       
TSX Acceptance + 5 $50,000 200,000 N/A
Oct. 31, 2012 $100,000 300,000 $100,000
Oct. 31, 2013 $150,000 300,000 N/A
Oct. 31, 2014 $250,000 500,000 N/A
Oct. 31, 2015 $500,000 600,000 $2,500,000
       
Total: $1,100,000 2,000,000 $2,600,000

2. Each Option entitles AccelRate to acquire a 100% interest in the subject property, subject to a 3% net smelter returns royalty and a 5 km Area of Interest. AccelRate will have the right to reduce the NSR by 1% by paying $1,500,000 to the Syndicate at any time prior to the ninth anniversary of the Option agreement. All shares issued to exercise the options will be subject to a four month hold.

3. Upon exercise of any Option by AccelRate, the Syndicate shall have the option to re-acquire a 30% participating interest in the Property for $5,000,000 within 90 days after the earlier of the date the Option is exercised, or 90 days after the date of the first NI 43-101 report on the property that includes a resource estimate of mineral resources outlined on the property. Upon exercise of the Buy Back Option, a joint venture will be formed with AccelRate as operator.

There has been no change to the status of the COB. The Company is in the process of closing its private placement announced on January 28 and March 5, 2011. All subscription proceeds will be held in escrow until completion of the COB. The Company is making required filings respecting the COB in accordance with Exchange Policy. It anticipates those filings will be reviewed in the ordinary course. However, the TSXV has in no way passed upon the merits of the proposed COB and has neither approved nor disapproved the contents of this press release. There can be no assurance that that the COB or other transactions described herein will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement or Management Information Circular to be prepared in connection with the proposed COB, any information released or received with respect to the COB may not be accurate or complete and should not be relied upon. Trading in the securities of AccelRate should be considered highly speculative.

The technical information in this news release has been reviewed by Trevor J. Bremner, M.Sc., P.Geo., a qualified person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

"Reimar Koch"
President
AccelRate Power Systems Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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