Estrella Gold Corporation
TSX VENTURE : EST

Estrella Gold Corporation

August 31, 2011 19:33 ET

Estrella Grants Stock Options to Key Staff & Directors

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) - Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce the granting of 910,000 incentive stock options on August 30, 2011. Of the 910,000 options that were granted, 390,000 were granted to key employees and consultants; 455,000 were awarded to the four independent directors and 65,000 were awarded to certain officers of the Company.

The stock options have an exercise price of $0.74 per share and vest quarterly over an 18 month period, expiring on August 30, 2014. All options granted and any common shares issued upon the exercise of the options will be subject to a statutory four month hold period expiring December 31, 2011. The granting of the options is subject to regulatory approval.

About Estrella Gold Corporation (TSX VENTURE:EST) Estrella Gold is a "Prospect Generator" focused on gold in Latin America. The Company's dual strategies focus on 1) generating new prospects/discoveries and 2) increasing the Company's inventory of gold resource ounces. Estrella has a NI 43-101 compliant inferred gold resource containing a minimum of 144,600 ounces at its Colpayoc project in Peru, and additional historic non-compliant gold resources. Mr. Keith A. Laskowski, MSc., is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has prepared, reviewed and verified the technical information contained in this news release. Estrella Gold has seven precious metal exploration projects in Perú and one in Chile. The Company has 24.1 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Further information is available at Estrella Gold's website: www.estrellagold.com.

STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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.

Contact Information