SOURCE: Lone Star Gold, Inc.

December 13, 2011 08:30 ET

Lone Star Gold, Inc. Provides Map, Longitude and Latitude Drill Target Coordinates & 1st Stage Drilling Update for La Candelaria Gold-Silver Project

ALBUQUERQUE, NM--(Marketwire - Dec 13, 2011) - Lone Star Gold, Inc. (OTCBB: LSTG) ("Lone Star" or "the Company") is please to provide an update on the Company's 1st stage drilling progress on its Mexico-based La Candelaria gold-silver project. Lone Star has a 70% Working Interest in the project, which comprises ~1,976 acres (~800 hectares) of mining concessions located roughly 125 miles (200 km) southwest of the capital city of Chihuahua State, Mexico.

Lone Star's 1st stage drilling program is based on the analysis of existing data as well as new data from the Company's own study of the La Candelaria asset, which was conducted as due diligence toward verifying the findings of the property's initial report. The study included conducting layers of geo-chemical and geo-physical analysis of the entire property, thereby significantly increasing the Company's geo-chemical data.

Shallow Drilling operations targeted to reach a depth of 200 meters (~650 feet) began on the La Candelaria project on November 7, 2011. The drill crew is currently continuing with the first 10-15 holes in the southeast zone, which was previously targeted during 2nd and 3rd phase geo-chemical exploration. Samples from the first 3 holes are currently being transported to ALS Chemex in the city of Chihuahua, Mexico, with first results expected back within 3-4 weeks.

Coordinates for the initial 10 drill targets are provided below:

#1 26 deg. 58' 00.32" N 107 deg. 18' 33.53" W
#2 26 deg. 58' 08 .09 N 107 deg. 18' 44.48" W
#3 26 deg. 58' 08.10" N 107 deg. 18' 58.69" W
#4 26 deg. 58' 09.02" N 107 deg. 18' 12.18" W
#5 26 deg. 57' 56.02" N 107 deg. 18' 44.33" W
#6 26 deg. 57' 49.73" N 107 deg. 18' 48.68" W
#7 26 deg. 57' 50.71" N 107 deg. 18' 35.12" W
#8 26 deg. 57' 42.05" N 107 deg. 18' 36.02" W
#9 26 deg. 57' 34.39" N 107 deg. 18' 37.31" W
#10 26 deg. 58' 12.99" N 107 deg. 19' 31.69" W

A map of the initial 9 drill targets can be accessed here: http://lonestargold.com/pr/initial-9-drill-targets

Based on the 1st stage drilling results, a 2nd exploration and drilling stage is expected to commence in Early, 2012, which would include further defining underground structures in the most economical areas on the property based on previous drill results with the goal of identifying 3-5 deep hole targets designed to reach depths of 600-700 meters (~1,970-2,300 feet). The Company is currently acquiring quotes for the costs associated with the deep core drilling/crews.

President Felipe Calderon's recent visit to Batopilas and Guachochi resulted in crews experiencing some delays with the transportation of samples and the delivery of additional rental equipment that was required for the drill program. The President's visit included the inauguration of improvements to the area's infrastructure, including newly constructed highways from the Capital City to the Sierra Tarahumara, and a new highway connecting Batopilas and Guachochi. Governor Cesar Duarte accompanied the President while making announcements of new infrastructure, development, increasing electric power, grid improvements and expansion of the area's cellular network system.

Daniel Ferris, Lone Star Gold's Company President, commented: "We're not only encouraged to have sent off initial samples for analysis from our 1st stage of drilling on La Candelaria, but to also be in an area of Mexico that is experiencing such growth and infrastructure investment. There's no risk of overemphasizing the importance of new roads, reliable power and effective communications when it comes to realizing the full mineral potential of our assets."

ADDITIONAL INFORMATION
To learn more about the La Candelaria Project, the Company, and regular news updates, visit Lone Star Gold's official website: http://www.lonestargold.com.

ABOUT LONE STAR: Lone Star Gold, Inc. is a publicly traded (OTCBB: LSTG) gold exploration and development company based in Albuquerque, New Mexico. The Company's aggressive acquisition and exploration approach is strategically focused on proven, stable precious metal regions in America and Mexico. Currently, Lone Star has a 70% Working Interest in concessions covering 800 hectares in the La Candelaria project in Chihuahua, Mexico, which the Company is evaluating to determine the potential sites that represent the best potential for silver and gold deposits. Lone Star also has an option to purchase a 70% interest in the Ocampo Project, a 570-hectare gold-silver project in Chihuahua State, Mexico, and an option to purchase an undivided 65% interest in the San Antonio del Potrero mine tailings project in the city of Hidalgo Del Parral in the state of Chihuahua, Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS,

Lone Star Gold, Inc.
Daniel Ferris, Company President

(OTCBB: LSTG)

This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Lone Star Gold, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Lone Star Gold, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Lone Star Gold, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Lone Star Gold, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml.

Contact Information

  • Contact:
    Lone Star Gold, Inc.
    6565 Americas Parkway NE, Ste 200
    Albuquerque, New Mexico
    87110
    USA

    INVESTOR RELATIONS
    Toll Free: 1-800-986-9358
    E-mail: ir@lonestargold.com
    Web: www.lonestargold.com