News Releases

Redstar Gold Corp. (the "Company") announces that the Company proposes to carry out a public offering to raise a minimum of $540,000 and a maximum of $795,000 by offering a minimum of 3,600,000 units of the Company and a maximum of 5,300,000 units of the Company (the "Units") at a price of $0.15 per Unit. The offering will be conducted by way of a short form offering document (the "Short Form") in accordance with Policy 4.6, "Public Offering by Short Form Offering Document", of the TSX Venture Exchange (the "Exchange").

Each Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share (a "Warrant Share") for a period of 1 year following completion of the offering and the issuance by the Company of the Units (the "Closing") at a price of $0.20 per Warrant Share. This offering is being made only to residents of British Columbia and Alberta and such other jurisdictions where the Units may lawfully be sold.

Canaccord Capital Corporation (the "Agent") will act as Agent to offer the Units on a commercially reasonable efforts basis. The Agent will receive a cash commission equal to 8% of the gross proceeds from the sale of the Units of which the Agent may elect to receive up to half in Units, The Agent will also be granted a non-transferable warrant (the "Agent's Warrant") to acquire that number of Units as is equal to 20% of the number of Units issued under this offering, at an exercise price of $0.20 per Unit, for a period of one year following the Closing. The Agent will also receive a corporate finance fee of 75,000 Units and an administration fee of $7,500.

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 Biron Bay and Pipestone North properties in Red Lake, Ontario; and

(b) for general working capital.

The offering is subject to a number of conditions including the execution of formal documentation and receipt of applicable regulatory approvals.

On behalf of the Board,
Paddy Nicol,

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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