May 13, 2004: VANCOUVER, BC. Redstar Gold Corporation (RGC -- TSXV) today announced positive results from four drill holes on its properties in Ontario's West Red Lake area. Drilling at the Biron Bay property has proven continuity of high-grade gold mineralization at depth on the Ledge showings, while drilling at the Pipestone North property has defined a large alteration system on the 991 showing.
Scott Weekes, President of Redstar stated: "We are pleased with the results from the first four of 12 planned drill holes on the Ledge and 991 showings. The Ledge showings have now been traced for over 300 metres along strike and 50 metres down dip. The alteration intersected at the 991 showing indicates the presence of a large mineralizing system, and further drilling is needed to test high priority targets in this area. We are anxious to return and complete the drill program this summer."
BIRON BAY PROPERTY: THREE HOLES ON THE LEDGE SHOWINGS
Of the four holes drilled, three were an attempt to test the continuity at depth of the "Ledge" showings discovered by Redstar on the Biron Bay property in 2003. The Ledge surface showings were comprised of two gold showings along a 375 metre long structure, which have returned surface values of up to 21.5 g/t gold over 0.60 metres. The intersections in these holes are very similar to the mineralization observed on surface, and confirm the continuity of the Ledge showing at depth.
Hole WRL04-003 was drilled under the Ledge showing and intersected 7.66 g/t gold over 0.91 metres including 30.9 g/t gold over 0.14 metres. Hole WRL04-001 was drilled 200 metres along strike from WRL04-003 and intersected 3.25 g/t gold over 1.34 metres including 4.27g/t gold over 0.85 metres. This intersection is within a strongly biotite altered felsic volcanic unit with minor chalcopyrite bearing quartz veins. Hole WRL04-002 was drilled midway between holes 1 and 3 and encountered a mafic dyke unit at depth, and consequently no significant gold values were returned.
PIPESTONE NORTH PROPERTY: ONE HOLE ON THE 991 SHOWING
In addition, one hole was drilled on the Pipestone North property, under the 991 showing discovered by Redstar in 2002/2003. The Pipestone North Property is located approximately 1 kilometre north of the Ledge showing.
The 991 showing consists of strongly altered and gold mineralized felsic volcanic rocks in contact with a folded ultramafic horizon. WRL04-004 was drilled under the 991 showing, and intersected a 200 metre wide zone of strongly quartz and sericite altered felsic stratigraphy with pyrite and chalcopyrite stringer mineralization and anomalous gold values. The zone consists of numerous intersections of copper up to 0.23% over 5.5 metres with isolated gold values up to 228 ppb. This is the widest zone of anomalous copper mineralization observed on the property, and previous work has indicated a correlation between gold grades and copper mineralization. In order to establish a framework for future drilling, the hole was designed to test stratigraphy and therefore did not test the north-south oriented gold bearing quartz veins previously sampled on surface. Additional drilling is planned to test these veins, as the 200 meter wide zone confirms the presence of a large mineralized system. A drill hole location map, table of results and cross sections will be posted with the news release on Redstar's website at www.redstargold.com.
All NQ-size core samples were split using a diamond saw and analyzed by ALS Chemex in Vancouver. Field duplicates, standards and blanks were all submitted with the core samples as part of the company's quality control program. All results are reported in grams per ton and were assayed using standard fire assay analysis. Mr. Bob Singh is the project geologist supervising the project and Mr. Robert Darney (P.Geo) is the Qualified Person as defined by NI 43-101.
The Biron Bay and Pipestone North properties are part of a large land package in the west Red Lake area held by Redstar under option from Rubicon Minerals Corporation. Redstar is required to spend $2.75 million to earn a 51% interest in the properties from Rubicon Minerals Corporation. and can increase this interest to 60% by fulfilling additional obligations. Redstar is currently in the third year of the four-year option agreement, and with the summer program, will have spent approximately $2.0 million dollars.
About Redstar Gold:
Redstar Gold Corp. is a junior mining and exploration company with properties located in the prolific Red Lake Gold Camp in northwestern Ontario. Redstar is focusing its acquisition efforts on under explored gold prospects in North America, which can be acquired under competitive terms and developed by Redstar's technical team. The website for Redstar is www.redstargold.com
On behalf of the Board,
REDSTAR GOLD CORP.
Linear Capital Corp.