Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

September 16, 2010 08:00 ET

Drilling Underway on Redstar's Oasis Gold Project in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2010) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce drilling has commenced on its 100% owned Oasis project in Nevada. The drill program is being funded and supervised by Centerra (U.S.) Inc. (Centerra), a subsidiary of Centerra Gold Inc. (TSX:CG). Centerra can earn a 75% interest in the Oasis project by completing $4 million in work expenditures and paying $200,000 in cash to Redstar over five years. 

Scott Weekes, president of Redstar states: "We are extremely pleased to have started the drill program at Oasis, where surface data collected continues to support a gold porphyry model for mineralization. Centerra has been very systematic and aggressive in their approach to exploration on the property, and the drill program underway will be a very good test of the size and tenor of the gold system. Nevada is one of the most productive gold mining regions in the world and attracts a lot of investor attention. Redstar currently has nine projects in Nevada in addition to Oasis and our Newman Todd project in Red Lake Ontario."

A total of 13 drill sites have been permitted over an area about one kilometer in diameter, with 4 step-out sites planned as well. Drilling will test the extent and grade of a gold-bearing alteration zone that returned surface samples up to 5.41 g/t gold. Drill target selection was aided by results of a surface exploration program, completed by Centerra that included geophysical surveys, soil geochemical sampling, geologic mapping and rock chip sampling.

Results of the drilling will be released when received by Redstar.

Dr. Jake Margolis is a qualified person as defined by National Instrument 43-101 and has reviewed this news release. Dr. Margolis is the US Exploration Manager for Redstar Gold Corp.

On Behalf of the Board,

Redstar Gold Corp

Scott Weekes, President

Forward-Looking Information 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 Redstar Gold Corporation (the "Company") expects 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 Company believes 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 the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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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