As part of a letter agreement dated January 13, 2005, Redstar Gold Corp (Redstar) has now received 8 DVD's of digital data and over 180 file boxes of hard copy data from AngloGold Ashanti North America Inc. (AngloGold Ashanti). Under the terms of the agreement Redstar and AngloGold Ashanti have formed an exploration partnership to explore for gold in Nevada.
Redstar is impressed with the scope and organization of the AngloGold Ashanti database. The database includes property data collected by AngloGold Ashanti and its predecessors as well as significant regional geological, geochemical and geophysical data. In addition to the data, Redstar has also acquired some innovative techniques and ideas generated by AngloGold Ashanti for gold exploration in Nevada. This information, coupled with the technical support from AngloGold Ashanti, will allow Redstar to compete for properties in Nevada at a very sophisticated level.
Redstar is developing a two-pronged approach to its Nevada exploration. Initially, Redstar will review specific projects in the database to identify opportunities with highgrade potential that fell below AangloGold Ashanti's size threshold. Redstar will also begin to identify high priority target areas in Nevada utilizing the database to generate new projects. In the early stages of both programs Redstar will rely heavily on AngloGold Ashanti's technical expertise and extensive knowledge of Nevada.
Scott Weekes president of Redstar states: "The well organized nature of the database and the incredible support from AngloGold Ashanti are allowing Redstar to very quickly identify high priority targets. I believe our relationship with AngloGold Ashanti will be a significant benefit to the company both in the short term and more importantly, for the long term."
On Behalf of the Board,
REDSTAR GOLD CORP.