SOURCE: Gold Star Resources Corp.

November 28, 2007 11:56 ET

Gold Star Resources Corp. Acquires Spectrum Geophysical Target Within VMS Ventures Reed Lake Project

VANCOUVER, BC--(Marketwire - November 28, 2007) - Gold Star Resources Corp. (the "Company") (NEX: GXX.H) announces it has entered into a Letter of Intent to acquire a 100% interest in mineral claim FRE 54088, located near Reed Lake, Manitoba. The 144 hectare property is situated within the overall boundary and completely surrounded by VMS Ventures, where recent, impressive, drilling results include 43 meters grading 4.38% Cu, 1.56% Zn, 0.85 g/t Au and 13.08 g/t Ag having been reported (see VMS NR, October 4, 2007).

The property is the subject of an historic, non N-I 43101 compliant, report which had outlined a spectrum geophysical target generated by Hud Bay Minerals during a 1997 airborne spectrum geophysical survey. To assist in confirmation and interpretation of this data and its incorporation into a commissioned current N-I 43101 compliant report, the Company has contracted Minconsult of Vernon, B.C. to commence a work program to include line cutting and ground geophysics. Results of this initial work program will form the basis for target selection and subsequent work programs.

Consideration for the agreement entails the Company paying to the vendors a total of $300,000 and by issuing the vendors a total of 300,000 common shares in staged payments over the next 18 months.

The Reed Lake volcanogenic massive sulphide (VMS) mineralized zone is overlain by distinctive layers of magnetite and chert. The rocks that underlie and contain the sulphide are moderately to intensely altered felsic volcanic rocks. The Reed Lake mineralization is typical of other VMS deposits including those in the prolific Snow Lake camp and the nearby Spruce Point mine, formerly operated by Hudson Bay Minerals.

Gold Star is a mineral exploration company based in Vancouver, British Columbia.

On behalf of the board,

Patrick Morris, President and C.E.O.

THE TSX VENTURE EXCHANGE (ALSO KNOWN AS THE NEX) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • For further information, contact
    Patrick Morris
    President and Chief Executive Officer of the Company
    Telephone: (604) 641-4450
    Facsimile: (604) 669-9335