Vanstar Mining Resources Inc.

Vanstar Mining Resources Inc.

July 30, 2012 09:00 ET

Vanstar Resumes Drilling on Nelligan

LA PRAIRIE, QUÉBEC--(Marketwire - July 30, 2012) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) (the « Company ») announces the resumption of the drilling program on the Nelligan project in early August. This second drilling campaign will consist of seven or eight drill holes for a total of 1,000 metres and will verify the lateral and in-depth extensions of the 94-13 and 95-01 historical drill hole done by Oasis Resources Inc. and Soquem. The drilling will take place in Zone B, located 200 metres east of Zone A.

This new drilling program follows the one that was completed in May.

The May campaign consisted of 1,254 metres of drilling or 5 drill holes. It allowed to verify the in-depth extensions of Zone A of the Nelligan showing and to confirm its gold continuity in-depth. This zone is 400 meters in length and remains open laterally and in depth.

The best results from this initial round of drilling follow:

Drill holes* Depth Width Grade
(metres) (metres) g/t Au
NE12-01 199.50-203.40 3.11 0.71
223.50-232.40 7.12 0.55
Including 226.50-229.50 2.40 1.15
NE12-02 120.00-124.50 3.48 1.01
134.10-138.00 3.02 1.20
163.50-166.50 2.33 1.24
279.00-297.00 18.00 0.74
Including 289.50-294.00 3.61 2.04
291.00-291.50 1.20 4.07
NE12-03 46.50-50.50 3.03 2.34
60.00-86.00 19.72 0.50
120.00-129.00 6.91 0.67
201.00-204.00 2.33 2.02
Including 201.00-202.50 1.17 3.39
NE12-04 42.50-51.00 6.12 1.46
Including 45.00-49.50 3.24 2.46
And 75.00-80.70 4.14 0.85
205.50-207.00 1.13 1.07

* True width

« We are very satisfied with current results. It shows that we are located in an important gold corridor which remains open in all directions. And near this corridor, we have Zone B that holds nice gold intersections that contains quartz-carbonate and tourmaline alteration zones. We are very confident in the quality of this gold project. » commented Mr. Nil Leblanc, current CEO of the Company.

Comprised of 92 cells covering 5,000 hectares, the Nelligan project is 100 % owned by Vanstar and is located near Chapais, Northern Quebec.

This project is located within a geological environment that is favorable to the presence of gold mineralization. The presence of quartz-tourmaline veins is a very important indicator that is linked to the Nelligan showing. The Philibert deposit, located north of the Nelligan project, is linked to a vein system containing white smokey quartz, tourmaline and carbonate lightly mineralized with pyrite. The gold seems more abundant when tourmaline and pyrite are present in the veins.

Drill holes 94-13 and 95-01 located in Zone B (respectively 4.4m at 2.17 g/t Au and 10m at 3.5 g/t Au ) show a similar association.

The Nelligan showing is located in the area of the Joe Mann mine (3.35 mt at 9.1 g/t Au ), the Philibert deposit (1.5 mt at 5.4 g/t Au) as well as the Lac Meston deposit ( 1.22 mt at 6.35 g/t Au ).

The works are under the supervision of Daniel Kelly, consulting geologist and Qualified Person under NI 43-101.

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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