Eagle Star Minerals Corp.
TSX VENTURE : EGE
PINKSHEETS : ELGSF
FRANKFURT : E6R

Eagle Star Minerals Corp.

February 16, 2012 11:52 ET

Eagle Star Minerals Releases Letter to Shareholders and Updates Website

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) ("Eagle Star" or "the Company") is pleased to announce the release of their Letter to Shareholders from President & CEO, Eran Friedlander and the launching of an updated version of its website (www.eaglestarminerals.com) in light of recent developments concerning acquisitions and corporate strategy.

Vancouver, February 16th, 2012

Dear existing and potential new shareholders,

It is without a doubt that 2011 proved to be a challenging year for junior exploration companies globally. Lingering concerns over the European debt crisis, coupled with a slow economic turnaround in the United States has sent investors into retreat. While acknowledging that these types of deterrents can hamper the progress of any company, it's equally important to continue building internally and capitalizing on opportunities as they emerge.

Outside of the hectic news cycles seen in North America and Europe, Eagle Star Minerals Corp. ("Eagle Star" or "the Company") has recognized and acted upon certain market trends developing within the soaring economy of Brazil or more specifically, the strengthening fundamentals of Brazil's agro-mineral market. As the leading agrarian country in the world, Brazil is the world's second largest importer of phosphate rock; a commodity which generates in Brazil alone annual sales of $1.1B USD. Witnessing phosphate rock's price increase ten fold since 2000 in a market lacking sufficient supply, Eagle Star identified an opportunity, and reshaped its strategy to allow it to become a significant player in the Brazilian agro-mineral market.

On the basis of this newly defined strategy, Eagle Star has worked diligently in 2011 to develop in house capabilities (including the technical skill set and operational infrastructure) necessary for building up a solid agro-mineral asset portfolio.

By assembling a mixed technical team comprised of senior Brazilian advisors and high level geologists, we have not only added regional, phosphate-specific knowledge, but we are now also set to implement this expertise with a sound viable business plan and a solid ability to execute it.

The unique advantage of this approach has been well demonstrated in the acquisition of both our projects - Ruth and Samba. By leveraging on the knowhow of our Brazilian technical team and on insight gained from actual field work, Eagle Star was able to independently locate and stake different phosphate opportunities directly from the national mining agency (DNPM) thereby substantially reducing project acquisition costs while at the same time diversifying the risks associated with exploration.

Our continuing effort to source, develop and expand our portfolio of Brazilian agro-mineral properties, based on size, quality, and ease of production are the building blocks of us reaching our goal - to become a mid-level phosphate producer in one of the world's most fertilizer deficient markets, within a relatively short period of time, at a very attractive cost structure.

Now, when it comes to our most recently announced project - Samba, the success of its acquisition could not be overstated. It is the result of a certain theory that yielded an idea, which we decided, was worthy of our close examination. We have therefore sent our geological team to the field and kept them extremely busy as they were searching for evidence of phosphate mineralization within a very large target area.

The initial exploration program covered an extensive region. Geological mapping has shown extensive exposure of potentially mineralized rock types in the area, which includes a package that may have 100m or more of thickness. Initially, our team was focused on collecting wide spaced, regional samples from outcrops. At a later stage and on the basis of positive results obtained from the lab, we have decided to follow up with more specific channel sampling in selected areas.

The lab results for these channel samples demonstrated yet again that indeed we have been successful in finding what we were looking for - stratified phosphate layers within the target rock types. It was upon these encouraging results that we went ahead and claimed the Samba project for our own.

On both Samba and the Ruth, we are now planning an aggressive follow up exploration program in order to investigate each project's potential to host significant phosphate resources. The ongoing program will focus on further detailing the most encouraging areas, while looking to laterally expand the already extensive phosphate mineralization. This will require additional mapping, sampling, geophysical surveying, trenching, airborne interpretation and drilling. It is our top priority to develop drill targets and begin a drill program on at least one of the properties by Q2 2012.

As these two projects will grow in size and importance, it will become all too apparent why our focus needed to be solely directed on agro-minerals. The economic fundamentals of the Brazilian fertilizer sector are too positive to ignore. With such a large domestic demand for phosphate and our ability to identify and claim lucrative phosphate opportunities directly from the DNPM, we strongly believe that Eagle Star is on the right track to create significant value for its shareholders.

Furthermore, now that we are solely focused on phosphate, the Company can utilize its resources more efficiently, reduce costs and keep shareholders dilution to a minimum.

For the Eagle Star team, 2012 represents a new beginning as it is moving forward as an agro-mineral focused company. Throughout this shift, I have remained confident in our decision to seek a prosperous first mover status in a sector that has remained somewhat overlooked despite all of the signs pointing to prosperity through phosphate. While many investors are focused on the economic outlook of North America and Europe, we are setting our sights on the rapid growth of Brazil, and seeking ways to capitalize on the domestic market's fertilizer deficit. We believe we've found an opportunity ahead of the curve, and through that, we are pleased to move forward with your support into 2012 and beyond.

Thank you,

On behalf of the board of directors

EAGLE STAR MINERALS CORP.

Eran Friedlander, President & CEO

ABOUT THE COMPANY

Eagle Star Minerals Corp. is a natural resource company headquartered in Vancouver, British Columbia Canada, focused on the acquisition, exploration and development of agro-mineral properties in Brazil. The Company's shares are publicly traded on the TSXv under the symbol EGE, on the OTC Pink Sheets under symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

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