Vanstar Mining Resources Inc.

TSX VENTURE : VSR


Vanstar Mining Resources Inc.

December 18, 2013 09:00 ET

Vanstar Confirms an Important Gold Discovery on Nelligan

LA PRAIRIE, QUEBEC--(Marketwired - Dec. 18, 2013) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) is pleased to announce that each of the 3 drill holes recently completed on the Liam gold showing, returned significant gold grades on intervals ranging from 20 to 35 metres along the hole. These new results confirm the importance of this new discovery and shows that gold distribution remains constant throughout the intersected gold zone.

  • Drill hole NE13-08, located 50 metres west of the discovery (NE13-04), intersected 28.6 metres at 2.09 g/t Au, including 4.69 g/t Au over 11.60 metres.

  • Drill hole NE13-09, located 50 metres east of NE13-04, intersected 24.3 metres at 2.10 g/t Au, including 3.72 g/t Au over 7 metres.

  • Drill hole NE13-07, located 50 metres behind NE13-04, intersected 21.75 metres at 1.04 g/t Au, including a zone of 9.60 metres at 1.23 g/t Au.

« We completed 4 drill holes on this new showing and they all confirm the continuity of this zone in every direction. The main horizons (south contact), namely the iron and the sericite formations, are present in every drill hole and all at the right places. We believe that we have found a new and very important gold structure within an underexplored area. Now everything is possible! We have to continue drilling and follow the low mag anomaly. » stated Mr. Guy Morissette, CEO of the company.

See Map attached: http://media3.marketwire.com/docs/Nelligan_Map.JPG as well as videos on : www.vanstarmining.com

These drill holes were done to assess the extensions along strike and at depth of the Liam gold showing discovered in November 2013. Associated to a low magnetic anomaly measuring 900 metres, this showing remains open at depth and along strike.

On the base of these very promising results, management of the company plans to start in January 2014, a new drilling program on the Liam zone as well as some holes on the Mila zone which is located east of the Liam zone. This new zone is associated with a magnetic anomaly measuring over 700 metres. Drill hole NE13-01 intersected a gold zone on the east extremity of this zone. (See November 26 press release).

DRILLING RESULTS FROM THE LIAM ZONE - DECEMBER 2013.

Drille hole Zone From To Interval Grade* MET
(metres) (metres) (g/t Au) (g/t Au)
NE13-07 Liam 128.25 - 150.00 21.75 1.04
Including 140.40 - 150.00 9.60 1.23
NE13-08 Liam 69.00 - 97.60 28.60 2.09
Including 82.50 - 97.60 15.10 3.74
Including 84.50 - 96.10 11.60 4.69
Including 89.05 - 96.10 7.05 5.47
84.50 - 85.50 1.00 12.55
85.50 - 86.75 1.25 1.52
86.75 - 87.90 1.15 0.53
87.90 - 89.05 1.15 0.71
89.05 - 90.45 1.45 8.62
90.45 - 91.90 1.45 1.06
91.90 - 93.10 1.20 3.54
93.10 - 94.60 1.50 12.40
94.60 - 96.10 1.50 1.39
NE13-09 Liam 84.70 - 109.00 24.30 2.10
Including 84.70 - 91.70 7.00 3.72
Including 87.60 - 91.70 4.10 5.04
Including 88.80 - 90.20 1.40 9.35
90.20 - 91.70 1.50 4.46
100.20 - 101.70 1.50 4.80
107.70 - 109.00 1.30 8.34
* 100% of the assayed samples from the Liam zone returned significant gold grades.

DRILLING RESULTS FROM THE DISCOVERY - NOVEMBER 2013

NE13-04 Liam 79.40 - 117.0 37.60 1.64
Including 86.00 - 117.00 31.00 1.84
Including 90.00 - 110.70 20.70 2.04
Including 90.00 - 100.50 10.50 2.30
86.0 0 - 87.00 1.00 6.24 6.08
90.00 - 91.50 1.50 1.90 1.73
91.50 - 93.00 1.50 4.30 4.52
93.00 - 93.90 0.90 2.06 2.27
93.90 - 95.40 1.50 2.44 2.32
96.90 - 98.40 1.50 1.75 1.67
98.40 - 99.50 1.10 1.43 1.45
99.50 - 100.50 1.00 2.52 2.45
100.50 - 102.00 1.50 1.07 0.97
102.00 - 103.20 1.20 1.87 1.68
103.20 - 104.70 1.50 1.34 1.50
104.70 - 106.20 1.50 1.39 1.65
106.20 - 107.70 1.50 2.85 3.10
107.70 - 109.20 1.50 2.18 2.15
109.20 - 110.70 1.50 1.72 1.61
110.70 - 112.20 1.50 0.42
112.20 - 113.70 1.50 0.80
113.70 - 114.90 1.50 0.54
114.90 - 115.50 0.60 4.03 4.12
115.50 - 117.00 1.50 1.95 1.31

The presence of molybdenum and silver is also noted on this new gold showing.

OTHER GOLD ZONES

NE13-01 Mila 34.5 - 39.0 4.5 1.03 0.88
and 70.50 - 72.0 1.5 1.19 1.04
and 103.5 - 105.0 1.5 1.54 2.21
NE13-03 Lac d'Eu 61.50 - 91.50 30.0 1.37
Including 61.50 - 67.50 6.0 5.36
And 174.0 - 175.50 1.5 1.09

The Liam showing

The Liam gold showing was discovered in November 2013 with drill hole NE13-04 (See November 26, 2013 press release). This hole was testing a low magnetic anomaly recognized on a length of more than 900 metres. This important gold structure was intersected at shallow depths and could result in an open pit exploitation.

The Liam gold zone lies within an intensive deformation corridor which is interpreted to coincide with a NE-SW low mag anomaly. Hosted in a meta-sedimentary environment, the core of the zone is strongly silicified with 1-2% disseminated pyrite over 20 meters of core length. A sericite-fuschite schist unit along with a sheared and mineralized Iron Formation are observed along the south contact. A horizon of amphibolite hosting 5-10% silicified and mineralized veinlets, with traces of molybdenum, is observed along the north contact.

So far, the drilling data shows a major gold showing with significant length, width and depth. The zone remains open along strike and at depth.

Nelligan Project

The 100% owned Nelligan property consists of 40 cells totaling 2,080 hectares. It is located approximately 45 kilometers south of the village of Chapais and is accessible year round by several forestry roads. A power line crosses the area some 4 kilometers to the east of the project. No constraints such as protected parks or ecological reserve limit mining exploration on the property.

The Nelligan property is located 15 km SSE of Tomagold's Monster Lake project where Iamgold Corp. recently agreed to exploration work commitments of $16,000,000 over a period of 5 years.

In the same area, you can also find the Philibert (Soquem), Meston Lake and Joe Mann deposits. The Chevriers deposits and the Murgor showings are located north-east of the Nelligan project.

Samples were recorded, packaged and sent to the certified Lab Expert Inc. facility in Rouyn-Noranda. They were assayed for gold by FAA on a 30 gram pulp. Sample exceeding 1 g/t Au were re-assayed by FA with a gravity finish. Company's QA/QC procedures include random insertions of certified standard material and blanks as well as the use of duplicates. NQ size core was described, sampled and split in two at the company's logging facility in Rouyn-Noranda.

The work was performed under the supervision of Daniel Kelly, consulting geologist and Qualified Person under NI 43-101. Samples were prepared at the company's logging facility and assays done by Laboratoire Expert in Rouyn-Noranda.

This press release was read and approved by Daniel Kelly.

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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