MONTRÉAL, QUÉBEC--(Marketwired - Feb. 3, 2014) - Goldstar Minerals inc. (TSX VENTURE:GDM) (the "Company" or "Goldstar Minerals") is pleased to announce that Forages Chibougamau has mobilized equipment and personnel to commence drilling on the Company's Julien polymetallic project located 100 km East of Mattagami. The currently permitted drill program will consist of a minimum of 1,200 metres.
A ground induced polarization survey (IP) completed by Géophysique TMC of Val-D'Or, Québec outlined several detailed IP anomalies on the main grid in an area where several high-priority and untested conductors were identified by the previous airborne survey. The main grid encompasses an area with targets near the Opatica - Abitibi suture zone, an area of significant structural deformation several hundred kilometers long.
The Julien Property comprises 9,100 hectares (91 km2) and is located east of Mattagami, Québec. Access is good all year long with the presence of numerous logging roads that transect the property. The Company has an undivided 100% interest in these claims.
Benoit Moreau, Goldstar Minerals' President and Chief Executive Officer states "We are pleased to undertake this drilling program on a property, which we believe has overlooked potential. The Company is also in a position to quickly follow-up on positive results".
The Company also announces that it is granting 1,032,500 incentive stock options to directors, officers, consultants and advisors of Goldstar Minerals exercisable at a price of $0.40 for a period of 5 years, subject to TSX-V and regulatory acceptance.
The scientific and technical information in this news release has been reviewed and approved by Benoit Moreau, Goldstar Minerals' President and CEO, a professional engineer and a qualified person as defined by National Instrument 43-101.
About Goldstar Minerals inc.
Goldstar Minerals is focused on developing high-value tungsten and related metals deposits in leading mining jurisdictions. Goldstar Minerals has a second property, Brockaby, which is also located in Québec with excellent access all year round. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the business of mining.
For more information about Goldstar Minerals inc., please visit: www.goldstarminerals.com
On behalf of the board of directors of Goldstar Minerals inc.
President & Chief Executive Officer
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements with respect to the impact of the acquisition on the Company and the Company's exploration plans with respect to the Property. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Goldstar Minerals inc. believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
NEITHER THE 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.