Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

January 29, 2008 11:47 ET

Redstar Gold Corp.: Phase II Drilling Underway yo Test High-Grade Vein at North Bullfrog Project in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce the start up of a Phase II drill program on the company's North Bullfrog project in Nevada. The North Bullfrog project is located in southwestern Nevada and is a joint venture with International Tower Hill Mines Ltd. (ITH) (TSX VENTURE:ITH)(AMEX:THM) in which ITH can earn up to a 70% interest in the project under terms announced in March, 2007.

The focus of the Phase II program will be to follow up on historic results from the past-producing Mayflower Mine, which is developed along a high-grade vein stockwork zone. Drilling is also planned for other mineralized areas, with the total program slated for at least 4,500 metres of reverse circulation drilling. The Mayflower 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.

Previous drilling at Mayflower (prior to 1997) intersected significant mineralization within 200 metres of surface 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.

Dr. Jacob Margolis, U.S. Exploration Manager, notes: "Redstar is pleased with the aggressive pace International Tower Hill is taking towards this large district play. The Mayflower vein is certainly an exciting target, and ITH will also be evaluating several of the other large mineralized areas in the project. One of the goals in these other areas is to identify high-grade structurally-controlled zones that we hypothesize are feeding broad volumes of low-grade mineralization."

Dr. Jacob Margolis, a qualified person as defined by National Instrument 43-101, has reviewed this news release will act for Redstar in the design and implementation of the work program at North Bullfrog. Dr. Margolis is the Exploration Manager for Redstar Gold Corp.

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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