Confederation Minerals Ltd.
TSX VENTURE : CFM

Confederation Minerals Ltd.
Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

January 10, 2011 09:00 ET

Confederation Minerals Ltd. Completes First Payment Under Option of Newman Todd Project From Redstar Gold Corp

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2011) - Confederation Minerals Ltd (TSX VENTURE:CFM); (www.confederationmineralsltd.com) and Redstar Gold Corp. (TSX VENTURE:RGC) advise that, having received TSX Venture Exchange acceptance for filing of the option granted to Confederation by Redstar and announced by press release on November 22, 2010, Confederation has completed the first payment due to Redstar under the option. Under the terms of the option, Confederation can acquire up to 70% of Redstar's Newman Todd gold project located in the Red Lake Mining District of Northern Ontario. This initial payment consisted of 100,000 shares and $50,000 cash. Further payments and work commitments will need to be met for Confederation to acquire its interest. The remaining financial terms of the option are summarized in the November 22, 2010 release.

On Behalf of the Board, On Behalf of the Board,
Redstar Gold Corp Confederation Minerals Ltd.
   
"Scott Weekes" "Lawrence Dick"
   
Scott Weekes Lawrence Dick, Ph.D., P.Geo
President President

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This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Companies expect to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Companies believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of management on the date the statements are made. Except as required by applicable securities laws, the Companies undertake no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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