Eagle Star Minerals Corp.
TSX VENTURE : EGE
FRANKFURT : E6R

Eagle Star Minerals Corp.

September 02, 2010 08:30 ET

Magnetometer Survey on the Serra do O Block at Eagle Star Minerals' Angico Iron Project, Brazil, Identifies Six Large Magnetic Drill Target Anomalies With Coincident Banded Iron Formation Outcrop

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2010) - Eagle Star Minerals Corp., (TSX VENTURE:EGE)(FRANKFURT:E6R) ("Eagle Star" or "the Company"). Further to its news release dated August 25, 2010 Eagle Star is pleased to provide the Stage 1 geophysical magnetometer results on the Serra do Ó Block (also known as Morro do Ó Block), at its Angico Iron project in the State of Piaui, North East Brazil. Serra do Ó Block claims are located 20 kilometers to the south-west-west of the Serra do Cavaleiro Block. The Angico iron ore project covers more than 48,500 hectares (120,000 acres) of mineral claims in 5 areas.

The magnetometer surveys were conducted and interpreted by Reconsult Geofisica, a leading Brazilian geophysical company based out of Sao Paolo, Brazil whose clients include Vale, Codelco, Kinross, Iamgold, Brazauro, BHP-Billiton, and Yamana. 

Reconsult's 3-D modeling of the anomalies generated six (6) very distinct major magnetic bodies with coincident BIF outcrops over an area of 6 square kilometers. All the magnetic bodies are sub-cropping, some with BIF outcrops. Structure contour patterns of these discreet magnetic bodies and preliminary geological mapping suggest that these bodies are part of a repeated sequence of the Banded Iron Formation. The repeats are due to structural deformation and intense folding. Detailed geological mapping, interpretation and diamond drilling will be required to understand the structural complexities. Based on these modeling results six locations were recommended for drilling angle holes. The drill holes are designed to test the anomalies as well as coincident BIF outcrops. 

The modeled magnetic bodies at Serra do Ó Block appear to be much more magnetic, more discrete and larger than the modeled magnetic bodies at Serra do Cavaleiro Block. The interpreted modeled bodies appear to have depth continuity to over 300 metres. The Reconsult magnetometer survey report can be referred to on the Company's website www.eaglestarminerals.com.

Analysis of representative grab samples collected from these BIF outcrops returned values from 17% to 69% Fe2O3. The BIF mineralization is typically comprised of alternating laminae of magnetite, hematite, martite, specularite, chert and jasper and shows strong isoclinal folding.

Detailed geological mapping with chip sampling across Banded Iron Formation outcrops (BIF) are in the process of being completed. The results of the sampling will be released upon receipt. 

"The iron mineralization and the interpreted magnetic bodies at Serra do Ó Block appear to be larger than the ones interpreted at Serra do Cavaleiro. This suggests that Eagle Star's Angico Iron Project has potential to host significant iron mineralization. The chip sampling results from the BIF outcrops should be received very soon," commented Eran Friedlander, President and CEO of Eagle Star Minerals.

This news release was reviewed and approved by Mohan R. Vulimiri, M.Sc., P.Geo, who is qualified person under the NI 43-101 guidelines. Mr. Vulimiri is the senior advisor to the Company with respect to the company's Angico Iron project.

About the Company

Eagle Star Minerals Corp. is a Natural Resource company headquartered in Vancouver, British Columbia, focused on the acquisition, exploration and development of mineral properties in North and South America. The Company's shares are publicly traded on the TSXv under the symbol EGE and on Frankfurt Stock Exchange under the symbol E6R

On behalf of the Board of Directors

EAGLE STAR MINERALS CORP.

Eran Friedlander, President

This press release contains certain forward looking statements which involve known and unknown, risks delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

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