News Releases

VANCOUVER June 1, 2007 Redstar Gold Corp. (the "Company") (TSX.V:RGC) announces that the brokered private placement led by PowerOne Capital Markets Limited and including Pacific International Securities Inc. (the "Agents") has now closed. Under the brokered private placement, the Company issued 12,500,000 units (the "Units") at a price of $0.20 per unit for gross proceeds of $2,500,000.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share until May 31, 2009, at a price of $0.30.

As consideration for their services, the Agents received commissions of $26,250 cash, 743,750 units on the same terms as the Units and 1,250,000 compensation options (the "Compensation Options"). Each Compensation Option will entitle the Agents to purchase one Broker Unit until May 31, 2009 at an exercise price of $0.20. Each Broker Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share until May 31, 2009 at a price of $0.30.

Proceeds from the offering will be used to finance further exploration on the Company's Newman Todd property in Red Lake, continued expansion of its Nevada property portfolio and for general working capital.

All of the securities issued pursuant to this private placement (including common shares issuable upon exercise of the warrants and common shares and warrants issuable upon exercise of the Compensation Options) have a four month hold period that expires on October 1, 2007.

On Behalf of the Board,
Redstar Gold Corp

"Doug Fulcher"

Doug Fulcher
Director

This news release, required by applicable Canadian laws, is not for distribution to U.S. news wire services or for dissemination in the United States, and does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither reviewed or approved the accuracy or adequacy of this news release.

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