Vanstar Mining Resources Inc.

Vanstar Mining Resources Inc.

August 08, 2012 09:00 ET

Vanstar Resumes Drilling on Nelligan

LA PRAIRIE, QUEBEC--(Marketwire - Aug. 8, 2012) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) (the « Company ») announces the resumption of drilling on the Nelligan project, more precisely in the area of the Lac d'Eu showing, zone B.

The zone B of the Lac d'Eu showing 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 this gold showing located in the north-east portion of the Nelligan project. 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.

Previous drill holes 94-13 and 95-01 located in Zone B of the Lac d'Eu showing (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 area of the Lac d'Eu showing is a privileged location to focus our works. Many current and previous drill holes show an important presence of gold in this sector. Zone A, that contains many gold structures, can be followed by drilling over 300 meters and remains open laterally as well as in-depth. Zone B, located a few hundred meters east of Zone A, was intersected by some previous drilling containing gold values linked with geological context different from zone A. The presence of tourmaline is an important factor in this area, » mentioned Mr. Leblanc, CEO of Vanstar.

Moreover, the management of the Company is looking to diversify its property portfolio and plans to acquire properties outside of Quebec. One of the locations chosen for acquisitions is the Dominican Republic. The Company has approached companies present in that region and plans to send a technical team in the coming weeks to evaluate some projects and to get to know mining laws of this country. The region of Haïti is also a potential target.

« It is important for the Company to diversify its portfolio of properties. In Quebec, the good spots for gold projects are becoming very scarce and conditions are becoming more difficult. The Company believes it can also find good gold projects elsewhere in the Americas, » commented Mr. Leblanc.

The management of the Company also announces that Mr. Jean Desmarais recently submitted his resignation from the board of directors of Vanstar, for personal reasons.

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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