Astral Mining Corporation
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TSX VENTURE : AA.WT
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Astral Mining Corporation

May 11, 2011 09:00 ET

Astral Announces Initial Resource Estimate at Jumping Josephine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2011) - Astral Mining Corporation (TSX VENTURE:AA)(TSX VENTURE:AA.WT)(PINK SHEETS:AAMJF)(FRANKFURT:A7DA) ("Astral" or "the Company") and joint venture partners Kootenay Gold Inc. (TSX VENTURE:KTN) (JV 60% Astral, 40% Kootenay) are pleased to announce completion of an initial resource estimate for the JJ Main discovery zone at the Jumping Josephine Gold Project, Southern British Columbia.

Apex Geoscience Ltd of Edmonton, Alberta performed the resource estimate calculation to determine the size of the gold resource at the JJ Main Discovery Zone that could be potentially extracted. The estimate comprises Indicated mineral resources of 363,000 tonnes averaging 2.95 g/t gold containing 34,000 oz Au and Inferred mineral resources of 448,000 tonnes averaging 2.08 g/t gold containing 30,000 oz Au, presented in the table below.

ClassificationTonnage
(tonnes
)Grade
(g/t
)Gold Content
(oz.
)
Measured---
Indicated363,0002.9534,000
Total Measured + Indicated363,0002.9534,000
Inferred448,0002.0830,000

Astral is pleased with the results of the initial resource calculation and is currently planning further work to advance the project during 2011.

Mike Dufresne (P.Geol), Andrew Turner (P. Geol) and Steve Nicholls (M AIG) of APEX Geoscience are the Independent Qualified Persons, as defined by NI 43-101, responsible for the mineral resource estimate. The current resource estimate is the first to be completed for the JJ deposit, which with drilling and trenching may now be considered to be an advanced exploration project. The resource is classified as an Indicated and Inferred mineral resource, consistent with the CIM definitions referred to in NI 43-101. The effective date of the mineral resource is March 24th, 2011. The mineral resource estimate is derived from a total of 71 diamond drill holes, the average spacing of which is 20 to 40 metres within the area of interest. A total of 564 composites of 1m length, capped at 30.0g/t Au were used for the estimation. The mineral resource was estimated by inverse distance squared within a 3 dimensional mineralization envelope, defined by similar geological characteristics in terms of alteration and mineralogy, using a 0.5g/t Au cut-off grade. A search ellipsoid of 30m x 30m x 4m orientated along strike (350°) was utilized for grade interpolation into 20m x 2m x 10m blocks. Block grades estimated from samples with an average distance of 15 to 40m away were classified as indicated, and with an average distance of 20 to 80m away were classified as inferred. A nominal density of 2.65g/cm3 has been applied to all blocks. The technical report on the Jumping Josephine Property in southern British Columbia will be filed within 45 days of this release.

The JJ Main prospect comprises a structurally controlled gold-bearing quartz stockwork vein system. To date, mineralization has been modeled along a strike length of some 400m and to a depth of 250m from surface. The zone averages 4-5m in width and the structure hosting mineralization remains open at depth.

Preliminary metallurgical testwork on 100kg of sample from the JJ Main resource area was completed by G&T Metallurgical Services Ltd of Kamloops, British Columbia in 2009 (see February 2010 news release). This work included first-pass flotation, gravity concentration and cyanide leach tests on low, medium and high grade material. Flotation tests averaged 98% gold recovery, combined gravity and leach tests averaged 94% gold recovery and whole ore leach tests averaged 86% gold recovery with the medium and high grade leach composites averaging 97% recovery. The metallurgical report can be viewed on Astral's website by following the link: http://www.astralmining.com/i/pdf/Met_Report_KM2397.pdf.

The resource estimate reported in this press release was made by Mike Dufresne (P.Geol), Andrew Turner (P. Geol) and Steve Nicholls (M AIG) of APEX Geoscience, all qualified people as defined by National Instrument 43-101. Mr. Turner has reviewed and verified the contents of this release. Consultants for Apex Geoscience are independent advisers to the company. An NI 43-101-compliant technical report will be filed with SEDAR within 45 days of this press release.

Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in the Americas. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia, the promising early stage Los Crestones gold-silver project in Sinaloa state, Mexico, an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at www.astralmining.com.

ON BEHALF OF THE BOARD

Mr. Manfred Kurschner, President & CEO, Astral Mining Corporation

For further information on Astral please visit the Company's web site at http://www.astralmining.com.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2011 Number 09

Shares outstanding – 21,685,400

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

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