VANCOUVER June 5, 2007 Redstar Gold Corp. ("Redstar") (TSX.V:RGC) announces updated exploration plans for 2007 after closing the recently announced $2,500,000 financing. The funding will enable Redstar to aggressively explore its 100% owned Newman Todd project in Red Lake as well as continuing to add to its growing portfolio of Nevada projects.
Near surface, high grade gold within an extensive area of alteration and brecciation highlights the potential of the Newman Todd project. Multiple gold zones, strong carbonate alteration and the proximity to folded ultramafic rocks are some of the similarities of the Newman Todd mineralization to the main producing mines in the Red Lake gold camp including Goldcorp's Red Lake Mine and Campbell Mine.
Redstar is planning an approximately $1,000,000 exploration program on the Newman Todd project in the Red Lake camp of Northern Ontario. Previous surface work and diamond drilling has outlined a structural corridor defined by brecciation and strong silicification that can be traced for at least 1.5 km. The zone contains numerous gold intercepts including hole NT-032 which intersected 1.0 metre grading 69.02 g/t gold within a 3.0 metre zone grading 24.84 g/t gold.
Hole NT-036 collared in rhyolite with quartz veining containing values up to 6.67 g/t gold over 1.0 metre near the top of the hole. The hole was continued to a depth of 390 metres after intersecting wide zones of breccia mineralization with values up to 16.35 g/t gold over 1.0 metre within a 2.0 metre zone grading 12.08 g/t gold at a vertical depth of 189 metres. This intercept is hosted in similar breccia style mineralization to that intersected in hole NT-032 located 850 metres to the southwest.
The extensive breccia units intersected in drilling are strongly iron-carbonate altered and contain wide zones of lower grade gold mineralization. Several sub-parallel zones have now been identified over a strike length of at least 1.5 kilometres, each with the potential to host high grade mineralization at depth. Redstar is currently planning an aggressive drill campaign to test mineralization below existing drilling. High grade mineralization remains open at depth and along strike as none of Redstar's current holes tested the sulphide horizons below the intercept in hole NT-032.
Scott Weekes, president of Redstar states: "Redstar is extremely pleased to have the funding necessary to complete an aggressive drill program at Newman Todd. Our previous work has identified a large alteration system with many similarities to the largest gold mines in the Red Lake camp. The ability to target near surface high grade gold intercepts makes this upcoming drill program extremely exciting. The $1,000,000 exploration program will concentrate on defining the extent of the high grade gold mineralization within the structural corridor. Drilling will focus on the 850 metres between the known high grade intercepts as well as tracing the known mineralization to depth."
The financing will also enable Redstar to continue to add to its portfolio of gold projects in Nevada. Since acquiring exclusive rights to AngloGold Ashanti's Nevada database Redstar has selected six Nevada gold projects. Two of these projects have been optioned out to International Tower Hill Mines Ltd. An update on the Nevada projects will be released shortly.
About Redstar Gold Corp.
Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario.
For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.
On Behalf of the Board,
Redstar Gold Corp
The TSX Venture Exchange has neither reviewed or approved the accuracy or adequacy of this news release.