Star Minerals Group Ltd.
TSX VENTURE : SUV

December 04, 2013 06:55 ET

Star Minerals Group Announces Definitive Agreement With Great Western Minerals for Option and Joint Venture on Hoidas Lake Rare Earth Project

SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 4, 2013) - Star Minerals Group Ltd. (TSX VENTURE:SUV) ("Star") is pleased to announce that it has entered into a definitive option and joint venture agreement (the "Agreement") with Great Western Minerals Group Ltd. ("GWMG") (TSX VENTURE:GWG)(OTCQX:GWMGF) pursuant to which Star has the right and option to acquire up to a 51% participating interest (the "Interest") in the mineral and other related rights in and to GWMG's Hoidas Lake Rare Earth Project (the "Hoidas Lake Project"), an area comprised of fourteen mineral claims totaling approximately 12,490 hectares and related property in northern Saskatchewan. The Agreement supersedes the Letter of Intent announced by Star in its June 4, 2013 news release.

Star's right to acquire the Interest is segregated into two tranches. Star has the right to acquire a 25% participating interest in the Hoidas Lake Project by funding and completing a preliminary economic assessment in respect of the Hoidas Lake Project within two years. Upon successfully exercising the first tranche and acquiring a 25% participating interest, Star will have the right to acquire a 26% participating interest in the Hoidas Lake Project by funding and completing a "bankable" feasibility study in respect of the Hoidas Lake Project within four years of the acquisition by Star of the initial 25% participating interest in the Hoidas Lake Project.

The completion of the transactions contemplated by the Agreement is subject to the acceptance of the TSX Venture Exchange and all other required approvals and consents.

About Star Minerals Group Ltd.

Star is a Canadian based entity focused on the strategic acquisition and development of resource properties on a worldwide basis.

For more information, please visit our website at www.staruranium.com.

ON BEHALF OF THE BOARD

Jim Engdahl, President and Chief Executive Officer

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.

Disclosure Regarding Forward-Looking Statements:

This press release contains certain "forward-looking statements" within the meaning of applicable securities legislation. Words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology are used to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of resource estimates; operational and technical difficulties; the availability to the Corporation of suitable financing alternatives; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Corporation believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.

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