Eagle Star Minerals Corp.

TSX VENTURE : EGE
PINKSHEETS : ELGSF
FRANKFURT : E6R


Eagle Star Minerals Corp.

March 28, 2013 09:53 ET

Eagle Star Proves Strong Correlation Between Geology and Geophysics as it Encounters Additional High-Grade Pit Intersections at Bomfim Target D1 (PZE South Portion)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 28, 2013) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) ("Eagle Star" or "the Company") is pleased to announce that additional pit testing conducted along line 9 (L9) at Target D1 (PZE South) has confirmed the presence of high-grade phosphate which demonstrates a strong correlation between geophysical data and the geology at Target D1. This information lends further support to the effectiveness of the geophysical method used as a means to identify areas of high-grade phosphate mineralization above the dolomite bedrock.

Three pits were opened based on interpretation of data collected through geophysics along a 350 meter section on line 9 (L9). All pits returned excellent grades of phosphate including Pit-GEOF-03 which intersected 4 meters of high grade material that exceeds the hand held XRF limit of >19% P2O5. In each case, the pits remain open at depth and the grades appear to increase in value the deeper the pits were channel sampled. The depth at Pit-GEOF-01 was restricted to 2.6 meters due to the hard nature of the phosphorite rock in that location which limited further manual excavation. Additional pits are scheduled to be opened with the objective of compiling the necessary data to statistically correlate between geophysics and the genetic model while also continuing to assist with the NI 43-101 resource calculation.

Hole ID From
(m)
To
(m)
Interval
length
(m)
P2O5
(%)
Short comment
PIT-GEOF-01 (XRF) 0.00 1.60 1.60 4.21 Mineralized soil
and 1.60 2.60 1.00 14.51 Open in depth
PIT-GEOF-02 (XRF) 0.00 5.00 5.00 12.54 Open in depth
including 3.00 5.00 2.00 14.18
PIT-GEOF-03 (XRF) 0.00 1.90 1.90 10.85 Open in depth
including 1.90 5.90 4.00 >19*
*Grades exceed the limit of the hand held XRF device.

XRF readings were collected systematically following recommended procedures of the manufacturer, Innov-X Systems. Pits are channel sampled along meter intervals and for each sample three readings are collected and averaged. Prior to analysis, the sample collected is homogenized, dried (using microwave oven) and manually crushed to fine grain. The composite grade for the pit is reached by weighted averaging of the values obtained for each sample. The handheld XRF analyzer is an Olympus Delta model and was calibrated according to Innov-X Systems in-house calibration procedure. The Company conducts field XRF analysis using industry recognized sample preparation and analysis protocols, and has conducted sufficient quality control using the XRF method to believe that although the method cannot be relied upon to have the equivalent precision and accuracy of a certified analytical laboratory, the results are of sufficient quality to direct exploration pending analytical laboratory confirmation.

Based on the results of the geophysical study and the information collected from the pits opened, the mineralized section along Line 9 is interpreted to stretch over a distance of at least 1300 meters in an east-west direction and the boundary between the underlying dolomite and the overlying phosphorite mineralization is interpreted to extend up to 20 meters in certain areas.

To view a map of Line 9 please click on the following link: http://media3.marketwire.com/docs/EGE0328.pdf

Due to the excellent results obtained from Geophysical work, Eagle Star has decided to extend the geophysical survey further East by acquiring an additional 3 km of ground geophysics to a total of 16 km in the PZE South portion. To date, 70.5% of the originally planned 13km of geophysical survey has been completed and now awaits interpretation.

FURTHER DEVELOPMENTS

The company is pleased to announce that it has completed the ground topographic survey at the PZE South portion which was carried out using total station survey equipment with measurements recorded every 25 meters. The final product is a Three Dimensional Elevation Model to be utilized by geological, geophysical and geochemical modeling of the PZE South portion. Scheduled drill holes will also be surveyed after completion.

CONCLUSIONS

"We are very enthusiastic as a result of these recent developments. Geophysics has proven to be a very important tool for us to better understand the geology and potential of PZE South portion in preparation for the NI 43-101 resource calculation planned for that area," comments Dr. Campos, an expert in sedimentary phosphate mineralization and Technical Director of the Company. "Everyone in the field is now very much looking forward to further test the data received from the geophysics by way of drilling."

Rick Kemp PGeo. of Coast Mountain Geological Ltd, a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the company.

ABOUT THE COMPANY

Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.

The Company's shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.

On behalf of the Board of Directors

EAGLE STAR MINERALS CORP.

Eran Friedlander, President

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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