Redstar Gold Corp.
TSX VENTURE : RGC

Redstar Gold Corp.

July 21, 2011 08:00 ET

Redstar Options Root Spring Gold-Silver Project in Nevada to Brocade Metals

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2011) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce the signing of an option agreement with Brocade Metals Corp., for the Root Spring Property in Nevada. Under terms of the agreement, Brocade can earn a 70% interest by spending $3.5 million on exploration, issue 500,000 shares and pay $200,000 to Redstar by Dec. 31, 2014. The Root Spring Property contains an extensive gold-silver vein system and is located about 80 km south of Winnemucca and 25 km east of the world-class Rochester silver mine operated by Coeur d'Alene Mines Corporation.

Mineralization at Root Spring is contained within 2 northwest-trending quartz veins, the quartz-vein system is at least 1.2km long, with extensions covered by valley-fill post-mineralization alluvium. Veins are up to 5m thick, with two parallel veins exposed, separated by about 100m. Surface rock-chip values in veins reach 9.36 ppm gold (0.273 ounces per ton) accompanied by high silver values reaching 1500 ppm (44 ounces per ton). The two veins are surrounded by poorly-exposed silicified volcanic rocks containing quartz-vein stockworks.

Previous exploration is limited to a 1987 drilling program of seven shallow drill holes totaling only 404m (deepest hole = 91m). The holes were incompletely assayed by atomic absorption only (no fire assay). Given the presence of sulfide, the assays may have underestimated grade. Other historic work on the project includes a small pit which reportedly yielded a shipment of 40 tons grading 14 opt silver.

Root Spring offers an opportunity to delineate gold-silver mineralization within large veins and surrounding wall rocks that could be similar to the nearby Rochester mine. The vein system is partly concealed by alluvium and is likely to extend significantly along strike beyond the limited vein exposures. Further, the two parallel veins indicate the potential for additional veins at depth. The veins and host volcanics also project under an area of post-mineralization Tertiary volcanic rocks which could conceal additional mineralization.

About Brocade Metals

Brocade Metals Corp. is a private junior mining exploration company based in Vancouver, British Columbia. Brocade is focused on identifying and developing select high-value silver and gold prospects in North America. Brocade's Ruby property, located 320 km north of Prince George, was the first high grade silver property optioned by Brocade in 2010.

About Redstar Gold

Redstar has recently acquired a high grade epithermal gold district in Alaska. The project includes a high grade deposit with a non 43-101 compliant resource, a bulk tonnage non 43-101 compliant resource, a historic high grade gold mine and numerous high priority exploration targets. In addition to the Alaska project Redstar currently has an aggressive drill program underway on a high-grade gold discovery in Red Lake, Ontario. Along with the high-grade gold projects in Alaska and Red Lake, the company also has a group of gold focused projects in Nevada.

Dr. Jake Margolis a qualified person as defined by National Instrument 43-101and has reviewed this news release. Dr. Margolis is the US Exploration Manager for Redstar Gold Corp.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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