Redstar Gold Corp.

Redstar Gold Corp.

April 05, 2011 08:01 ET

Redstar Intersects High-Grade Gold at Newman Todd

2.0 Metres of 25.55 g/t Gold Including 0.50 Metres of 75.8 g/t Gold

Step Out Drilling Identifies New Gold Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2011) - Redstar Gold Corp. (TSX VENTURE:RGC) and our partner Confederation Minerals Ltd. (TSX VENTURE:CFM) are pleased to report additional results from the on-going drill program at the Newman Todd property in the Red Lake Gold District, Ontario. The drill program continues to expand the known zones of gold mineralization and identifies a new target zone. Highlights include; step out drilling approximately 200 metres along strike of the Newman Todd Structure (NTS), and hole NT-058 intersected 2.0 metres of 25.55 g/t gold, including 0.50 metres of 75.8 g/t gold.

Scott Weekes, President of Redstar, states: "We are extremely pleased with results from our winter 2011 drill program that included 6 holes, and returned some of the best results to date at the Newman-Todd project. Not only have we intersected some of the highest grades we have seen within the Heath Bull Zone, results continue to indicate that the entire NTS structure is gold bearing. Our drilling within the Heath Bull Zone is beginning to demonstrate continuity of the high-grade gold mineralization. Redstar has now completed a total of 30 holes, and hit gold in every hole drilled into the NTS. Drill hole NT-061 (on section 2425), was drilled over 1.0 kilometre to the northeast of the Heath Bull Zone, and intersected seven separate zones with assays greater than 3.0 g/t gold. With development of a new gold zone on section 2425, it brings our total gold zones found along strike of the NTS to four. Each of the four gold zones has the potential to host several steeply dipping, high-grade gold zones at shallow depths, and the depth potential remains wide open."

Results have been received from four additional holes, highlights include:

  • 2.0 metres of 25.55 g/t gold including 0.50 metres of 75.8 g/t gold and including 0.50 metres of 23.3 g/t gold. In the Heath Bull Zone.
  • 1.0 metres of 11.65 g/t gold and 1.0 metres of 7.33 g/t gold in step out drilling.
    From To Width Au  
Hole   (m) (m) (m) (g/t) Area
NT-058   182.00 184.50 2.50 2.46 HB
NT-058 including 183.00 184.00 1.00 4.61 HB
NT-058   283.00 286.50 3.50 15.48 HB
NT-058 or 283.50 286.50 3.00 17.94 HB
NT-058 including 284.00 286.00 2.00 25.55 HB
NT-058 and including 284.00 284.50 0.50 75.80 HB
NT-058 and including 285.50 286.00 0.50 23.30 HB
NT-059   68.00 70.00 2.00 3.60 HB
NT-059 including 68.00 69.00 1.00 5.84 HB
NT-060   102.00 103.00 1.00 5.21 Stepout
NT-060 and 174.00 175.00 1.00 4.83 Stepout
NT-060 and 250.00 251.00 1.00 11.65 Stepout
NT-061   53.00 54.00 1.00 3.17 Stepout
NT-061 and 67.00 68.00 1.00 7.12 Stepout
NT-061 and 237.00 238.00 1.00 3.56 Stepout
NT-061 and 301.00 302.00 1.00 7.33 Stepout
NT-061 and 307.00 308.00 1.00 3.61 Stepout
NT-061 and 309.00 309.50 0.50 5.29 Stepout
NT-061 and 406.00 407.00 1.00 3.48 Stepout
NT-061 including 406.50 407.00 0.50 5.83 Stepout
** Width represents core length and does not reflect true width. Assays are uncut and do not exceed more than 3.0 metres of less than 0.50 g/t in averaged intervals.

Discussion of Results

The current program is focusing on the Newman Todd Structure, which spans the entire property (approximately 2.8 kilometres) and has been sparsely drilled along strike.

Drill holes NT-058 and NT-059 were drilled southeast, to test for continuity of the Heath Bull Zone to the northeast. These holes were drilled on section 1400, where very little drilling has been completed to date. This section is a 25 metre step out to the northeast from drill hole NT-056 (reported March 14/2011) that intersected 3.0 metres of 42.84 g/t gold, including 1.0 metre of 122.0 g/t gold.

Drill holes NT-060 and NT-061 were drilled on section 2425 (approximately 1km northeast of the Heath Bull Zone), and approximately 200 metres northeast of the NE Breccia Zone. Both holes intersected wide-spread iron carbonate alteration with silica-sulphide and magnetite replacement zones. Early interpretation suggests these holes intersected multiple zones (see section 2425 on the company's website) of gold mineralization which are at present interpreted to be steeply dipping.

Exploration work at the Newman-Todd project is being funded by Confederation Minerals Ltd. (Confederation) (TSX VENTURE:CFM). Confederation can earn a 50% interest in the project by spending $5.0 million in exploration within three years, and an additional 20% by producing a Preliminary Economic Assessment (PEA) within six years.

Bob Singh P.geo is the qualified person as defined by National Instrument 43-101and has reviewed this news release. Mr. Singh is the Canadian Exploration Manager for Redstar Gold Corp. Core samples from the program were cut in half using a diamond cutting saw and were sent to ALS Laboratory Group in, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing fire assay methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Redstar's quality control/quality assurance program.

On Behalf of the Board,

Redstar Gold Corp.

Scott Weekes, President

Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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