Canadian Shield Resources Ltd.
TSX VENTURE : EXP

Canadian Shield Resources Ltd.

July 12, 2010 08:45 ET

Canadian Shield to Prepare NI 43-101 Technical Report on Estrella Gold-Silver Project, Peru

TORONTO, ONTARIO--(Marketwire - July 12, 2010) - Canadian Shield Resources Ltd. (TSX VENTURE:EXP) ("Canadian Shield" or the "Company") has contracted SRK Consulting (U.S.) to prepare a Technical Report, consistent with the standards of NI 43-101 on the Company's Estrella gold & silver property located in the Central Peru polymetallic belt. The property contains 1,200 hectares and is located 130 km south of Huancayo in the Department of Juancavalica. Canadian Shield holds a 100% interest in the property.

The Estrella property contains a volcanic-hosted epithermal gold-silver system with associated base-metal mineralization hosted within a north-south trending graben. The property has a total of 615 surface rock samples and 33 drill holes totalling 5,800 meters of drilling. Gold assays from outcrops and drill holes range from 0.2 - 54.0 g/t and average 0.44 g/t gold. Silver mineralization assays range from 15.0 – 1,400 g/t and average 21.15 g/t silver. Three different styles of mineralization are present within a 1,200 meter north-south by 200 meter east-west zone, which remains open for expansion. The largest area of mineralization occurs as a north-south trending, west dipping, irregular, stratabound zone measuring 50 – 150 meters in thickness. This stratabound zone contains variable grade gold and silver mineralization with disseminated and vein hosted pyrite, tetrahedrite, galena and sphalerite. The zone has been intersected along strike for 600 meters, and remains open to the north and south. It also remains open up and down-dip. The second type of mineralization consists of a flat-lying tabular zone 10 - 25 meters thick that is located at or near surface. This flat lying zone occurs above the stratabound zone. It measures approximately 200 meters east-west and 130 meters north-south. The third type of gold and silver mineralization cross-cuts both the stratabound zone and the flat-lying mineralization. It occurs in north and northeast trending, sub-vertical fault zones, which outcrop at surface. It has also been intersected in drill holes, which extend north of the stratabound zone for 600 meters. The sub-vertical zone locally contains some of the highest grade mineralization on the property, including drill intersections of up to 11 meters @ 311.2 g/t silver and 0.59 g/t gold (RC-E10 from 43 - 54 m). It also remains open along trend to the north and south and at depth.

About Canadian Shield Resources Ltd. (TSX VENTURE:EXP) Canadian Shield is a precious metals exploration and development company focused on strategically-located properties in Perú and Chile. Canadian Shield has seven precious metal exploration projects in Perú and one in Chile. Mr. Keith A. Laskowski, MSc., is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has prepared, reviewed and verified the technical information contained in this news release The Company's shares are listed on the TSX Venture Exchange (Trading Symbol TSX-V: EXP). Further information is available at Canadian Shield's website: www.canadianshieldresources.com. The Shareholders recently approved a name change of the Company to ESTRELLA GOLD CORPORATION, which is expected to become effective August 1, 2010.

STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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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