Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

December 10, 2007 08:03 ET

High-Grade Mayflower Property Added to Redstar Gold's North Bullfrog Project

Highlights of Historic Drilling Returned: 8.3 g/t Au over 12.2 meters including 28.8 g/t Au over 3 meters and 4.2 g/t Au over 26 meters including 41.5 g/t Au over 1.5m.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2007) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce the addition of the Mayflower mine to its North Bullfrog project in southwestern Nevada. The new acquisition of eleven patented claims covering the historic mine brings the total project position to 5.2 square miles of unpatented claims and leased patented claims. Under terms of an agreement announced March 16, 2007, International Tower Hills Mines Ltd. (TSX VENTURE:ITH) is earning a 70% interest in the North Bullfrog Project from Redstar through a series of staged payments and annual work commitments.

The historic Mayflower underground mine is developed along a northwest-trending, steeply-dipping, high-grade quartz-calcite vein stockwork zone in silicified volcanic rocks. The mine was active intermittently from 1905 until about 1941, with at least 1070 metres (3,500 feet) of workings to a depth of at least 160 metres (530 feet), but historic production records are lacking. Recent sampling by Redstar of quartz veins in outcrop and from mine dumps has returned assays to 1.175 opt Au (40.300 g/t), with unveined silicified wallrock yielding 0.274 opt (9.41 g/t). High-grade samples contain fine-grained visible gold.

Scott Weekes, President of Redstar states: "The acquisition of the Mayflower property represents a significant addition to the North Bullfrog project. The high grade vein system at Mayflower is underexplored and will be one of the main focuses of a planned January 2008, drill program. ITH has taken an extremely aggressive approach to exploration at North Bullfrog and the acquisition of the Mayflower property highlights their commitment to this project."

Previous drilling at Mayflower (prior to 1997) intersected significant mineralization within 200 metres of surface (Table 1), including 0.243 opt over 40 feet containing 0.841 opt over 10 feet (8.322 g/t over 12.2m containing 28.820 g/t over 3.0m); and 0.121 opt over 85 feet containing 1.210 opt over 5 feet (4.146 g/t over 25.9m containing 41.500 g/t over 1.5m). The drilling was shallow, and mineralization remains open at depth. The deepest test was a 730-foot (222m) vertical drill hole that intersected several disconnected low-grade zones at the base of the hole (total of 105 feet averaging .016 opt (0.543 g/t, 32m). The vertical drill did not adequately test the steep veins but clearly indicates that mineralization continues to at least 700 feet.

The previous drilling indicates a significant halo of low-grade mineralization surrounding higher-grade veins, with some holes intersecting multiple veins separated by as much as 80 feet of low-grade mineralization (e.g., NB198). This style of mineralization indicates the potential for an open pitable resource on the Mayflower property. Drill holes also encountered high-grade mineralization around the underground workings, indicating that significant volumes of mineralization were left unmined.

The strike length of the mineralization is at least 2,900 feet, as defined by the previous drilling and surface mapping and sampling. The vein system may continue even further to the southeast, where it is concealed by unaltered volcanic units believed to be post-mineralization in age. It may also be open along strike to the northwest, where drilling has been insufficient.



Table 1. Mayflower Previous Drilling Results(i)

--------------------------------------------------------------
Feet, ounces per ton (opt) Meters, grams per metric tonne (g/t)
--------------------------------------------------------------
Au
Drill Hole (opt) From To Length g/t From To Length
--------------------------------------------------------------------------
NB14 0.021 150 230 80 0.722 45.7 70.1 24.4
--------------------------------------------------------------------------
NB110 0.015 650 710 60 0.500 198.1 216.4 18.3
--------------------------------------------------------------------------
NB198 0.243 160 200 40 8.322 48.8 61.0 12.2
including 0.841 160 170 10 28.820 48.8 51.8 3.0
NB198 0.033 230 285 55 1.132 70.1 86.9 16.8
including 0.153 255 260 5 5.250 77.7 79.2 1.5
--------------------------------------------------------------------------
NB202 0.045 255 395 140 1.551 77.7 120.4 42.7
including 0.218 280 290 10 7.480 85.3 88.4 3.0
--------------------------------------------------------------------------
NB216 0.033 195 245 50 1.120 59.4 74.7 15.2
--------------------------------------------------------------------------
NB217 0.061 50 105 55 2.105 15.2 32.0 16.8
including 0.165 55 65 10 5.651 16.8 19.8 3.0
--------------------------------------------------------------------------
NB219 0.041 135 155 20 1.402 41.1 47.2 6.1
including 0.126 145 150 5 4.310 44.2 45.7 1.5
--------------------------------------------------------------------------
NB219 0.048 185 215 30 1.639 56.4 65.5 9.1
including 0.126 185 190 5 4.315 56.4 57.9 1.5
--------------------------------------------------------------------------
NB220 0.159 390 410 20 5.458 118.9 125.0 6.1
including 0.298 390 400 10 10.205 118.9 121.9 3.0
--------------------------------------------------------------------------
NB223 0.080 155 165 10 2.752 47.2 50.3 3.0
including 0.151 160 165 5 5.171 48.8 50.3 1.5
--------------------------------------------------------------------------
NB223 0.121 235 320 85 4.146 71.6 97.5 25.9
including 0.655 240 250 10 22.463 73.2 76.2 3.0
including 1.210 240 245 5 41.500 73.2 74.7 1.5
--------------------------------------------------------------------------
NB224 0.011 315 370 55 0.388 96.0 112.8 16.8
--------------------------------------------------------------------------
NB227 0.028 90 165 75 0.970 27.4 50.3 22.9
including 0.111 140 145 5 3.801 42.7 44.2 1.5
--------------------------------------------------------------------------
NB233 0.026 65 85 20 0.879 19.8 25.9 6.1
--------------------------------------------------------------------------
NB233 0.035 135 180 45 1.199 41.1 54.9 13.7
--------------------------------------------------------------------------

(i)Nominal 0.01 opt (0.34 g/t) cutoff: composites are greater than 0.250
g/t (0.007 opt) but all include at least 5 feet grading 0.340 g/t (0.01
opt); the intersections reported here are not necessarily true widths.


The target at Mayflower is to complete the delineation of the high-grade vein mineralization and surrounding lower-grade halo with the goal of defining an underground or open-pit resource. ITH is planning an early 2008 drilling program to test down-dip and along strike of previous intersections, to define the geometry of ore shoots and constrain the overall mineralization envelope. Details of the continuing exploration drilling program at North Bullfrog will be announced as results and plans materialize.

Mayflower Acquisition

ITH has entered into a lease agreement with a private group for the acquisition of the eleven Mayflower claims totalling approximately 76 Ha. The claims will form part of the North Bullfrog joint venture agreement between ITH and Redstar. Property and acquisition costs will form part of the ITH work commitments under the joint venture. The terms of the lease require ITH to make the following share payments, work commitments as well as conveying a sliding scale royalty:

- Term: 5 year Exploration period with option to extend 5 more years. Property held after through production or AMR payment of USD100,000/year.

- Payments: USD 5,000 and 25,000 shares at signing and 20,000 shares for years 1 thru 5. Option for second 5 year exploration period USD 10,000 and 50,000 shares for the first year and 50,000 shares for each year after till year 10.

- Work Commitment: USD 100,000 per year for the first 3 years, USD 200,000 per year for years 4-6 and USD 300,000 per year there after till production.

- Retained Royalty: 2% at a gold price of USD 400 or less, 3% for gold price of USD 401-500 and 4% for a gold price of greater than USD 500.

- Purchase Option: the Company will have the right to purchase the property and all obligations during the first 10 years for USD 10,000,000, following year 10 the USD 10,000,000 purchase price will be escalated annually based on the US annual Consumer Price Index increase for that year.

The North Bullfrog Project near Beatty, Nevada, lies six miles north of the Bullfrog mine, which was operated by Barrick Gold Corp. and produced 2.3 million ounces of gold between 1989 and 1999. The project contains widespread, low-grade volcanic-hosted gold mineralization and local high-grade veins and vein stockwork zones geologically similar to the mineralization at the Bullfrog mine.

About Redstar Gold Corp.

Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario. For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.

On Behalf of the Board,

Redstar Gold Corp.

Doug Fulcher, Director

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

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