Redstar Gold Corp (TSX.V:RGC) ("Redstar" or the "Company") reported today that the Company has granted incentive stock options to its various directors, officers, employees and consultants to purchase up to an aggregate of 1,000,000 common shares in the capital stock of the Company exercisable for a period of 5 years at a price of $0.10 per share. Mr. Jacques Vaillancourt, a director of the Company and representing Mount Everest Finance SA, received 440,000 of the incentive stock options. Mount Everest Finance SA acquired ownership of 21,000,000 units in the capital of the Company pursuant to a private placement that received TSX Venture Exchange approval on August 21, 2013 and closed on August 21, 2013. Each unit consisted of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share for a period of 12 months at an exercise price of $0.07 and for a further period of 14 months at an exercise price of $0.10. As a result of the grant of options, Mr. Vaillancourt controls, directly or indirectly, 21,000,000 common shares of the Company, warrants to purchase an additional 21,000,000 common shares of the Company and incentive stock options to purchase an addition 440,000 common shares of the Company. Mr. Vaillancourt has filed an early warning report, which is available on SEDAR.
Redstar currently holds 100% of the Newman Todd Project in Red Lake Ontario. Newman Todd, currently optioned to Confederation Minerals (TSX.V:CFM), is a new high grade gold discovery in the prolific Red Lake Gold Camp. Drilling to date has outlined numerous zones of high grade gold mineralization along a 1.8Km corridor within the Newman Todd Structure ("NTS"). The gold mineralization in the NTS remains open along strike and at depth.
Redstar owns 100% of 11 gold projects in Nevada and owns the Anglogold-Ashanti Database ("Database") for Nevada and surrounding states. The Database has proven to be effective in developing quality projects in a variety of known gold producing regions of Nevada including the Carlin Trend, Bullfrog District and the Cortez Trend.
The Unga Project in south-western Alaska consists of two properties acquired by Redstar in 2011: the Unga-Popof and Shumagin properties. The Project includes the high-grade Shumagin gold deposit, the Centennial disseminated bulk-tonnage gold deposit and the Apollo-Sitka high-grade gold vein system, which produced approximately 150,000 oz of gold in the early 20th century. Redstar is purchasing a 100% interest in the Shumagin Property from Magnum Hunter Resources.
On Behalf of the Board,
Redstar Gold Corp.
"R. Bob Singh"
R. Bob Singh
President and CEO
800 WEST PENDER STREET
Redstar Gold Corp.
Tim Mikula, Business Development
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.