Eagle Star Minerals Corp.

Eagle Star Minerals Corp.

October 01, 2010 13:07 ET

Eagle Star Minerals Corp.: Geophysical Magnetometer Survey at Serrinha Block Identifies Magnetic Bodies for Future Diamond Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2010) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(FRANKFURT:E6R) ("Eagle Star" or "the Company") Eagle Star Minerals is pleased to provide highly prospective Stage 1 geophysical magnetometer results on the Serrinha Block of its Angico iron ore project located in the State of Piaui, North East Brazil. The Angico iron ore project covers more than 40,000 hectares (100,000 acres) of mineral claims in 5 areas.

Commenting on the recently completed survey, Eran Friedlander, President and CEO of Eagle Star Minerals stated: "The BIF outcrops and interpreted magnetic bodies at Serrinha Block appear to have excellent potential to host significant iron mineralization. The chip sampling results from the BIF outcrops should be received very soon. We will be incorporating this data into our next round of drilling, which we plan to commence upon completion of the diamond drill program presently underway at the Serra do O Block, also located within our Angico iron property."

The magnetometer surveys were conducted and interpreted by Reconsult Geofisica.("RG"), a leading Brazilian geophysical company based out of Sao Paolo, Brazil whose clients include Vale, Codelco, Kinross, Iamgold, Brazauro, BHP-Billiton, and Yamana. 

RG's 3-D modeling of the anomalies generated seven (7) very distinct, major magnetic bodies with three of the bodies aligned on what appears to be a trend and four bodies located to the north of this trend-line. Each of the magnetic bodies trend toward each other to the east suggesting that these bodies are related to a folded and repeated sequence of the banded iron formation (BIF). Based on these modeling results four locations were recommended for drilling angle holes. The drill holes are designed to test the anomalies as well as coincident BIF outcrops. The complete RG magnetometer survey report can be viewed on the Company's website at www.eaglestarminerals.com.

Analysis of representative grab samples collected from these BIF outcrops returned values from 17% to 69% Fe2O3. The BIF mineralization is typically comprised of alternating laminae of magnetite, hematite, martite, specularite, chert and jasper and shows strong isoclinal folding.

Detailed geological mapping with chip sampling across Banded Iron Formation outcrops (BIF) are in the process of being completed. The results of the sampling will be released upon receipt. 

This news release was reviewed and approved by Mohan R. Vulimiri, M.Sc., P.Geo, who is qualified person under the NI 43-101 guidelines. Mr. Vulimiri is the senior advisor to the Company with respect to the company's Angico Iron project.

About the Company

Eagle Star Minerals Corp. is a Natural Resource company headquartered in Vancouver, British Columbia, focused on the acquisition, exploration and development of mineral properties in North and South America. The Company's shares are publicly traded on the TSXv under the symbol EGE and on Frankfurt Stock Exchange under the symbol E6R.F.

On behalf of the Board of Directors

"Eran Friedlander"
Eran Friedlander, President

This press release contains certain forward looking statements which involve known and unknown, risks delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements.

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

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