News Releases

Redstar Gold Corp. (the "Company") has arranged a brokered private placement to raise gross proceeds of $350,000. The Company will issue up to 3,500,000 Units at a price of $0.10 per Unit. Each Unit consists of one common share and one-half share purchase warrant. Each share purchase warrant will be exercisable into one common share at a price of $0.15 for a period of one year. Canaccord Capital Corporation ("Canaccord") has been engaged as Agent and will be been paid an 8% cash commission of which Canaccord may elect to be paid up to half of the commission amount in Units. Canaccord will receive Agent's warrants, equal to 20% of the number of Units sold, having the same terms as the Unit's warrants, an administration fee of $3,500 and a Corporate Finance Fee of 40,000 Units

The Company also announces that the short form offering, announced on April 14, 2004, has been cancelled.

The Company intends to use the proceeds from the offering for the following purposes:

(a) to carry out proposed exploration work programs on the Company's Red Lake and Atikokan properties in Ontario; and

(b) for general working capital.

The offering is subject to regulatory acceptance of the TSX Venture Exchange.

On behalf of the Board,
Scott Weekes,

Investor Information
Flora Wood
Linear Capital Corp.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or the accuracy of this news release.


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