October 14, 2016: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") announces it commenced drilling at the high-grade Shumagin Gold Zone at its 100% controlled Unga Gold Project on October 13. On October 5, the Company discussed the Phase 2 Drill Program, which will consist of approximately 1,500 metres of diamond drilling that will focus on outlining additional high grade gold mineralization at the Shumagin Zone along strike and at depth. The Company anticipates a larger expansive drill program in the spring of 2017, after all results from the Phase 2 program are received and modelled.
The 2016 summer exploration program at Shumagin refined new exploration targets along known structures hosting high-grade rhodochrosite-bearing breccias within dilation zones localized along the approximate 2,000 meter Shumagin Gold Zone. The drill program is targeting a seven (7) drill hole program that will test an approximate 1000 meter strike length of the Shumagin Zone, including the Shumagin Main Zone, the Bunker Hill Zone, and a new zone identified as the East Zone. Please visit the Company's website and refer to the October 2016 Corporate Presentation on page 26 for approximate locations of the drill holes (www.redstargold.com/investors/presentations-and-media/).
Redstar's President & CEO, Peter A. Ball, commented, "We are pleased that in less than a week from mobilizing our technical team to our Unga Gold Project, the camp has been set up, drill pads prepped and the drill rig is now turning. We look forward to execution of the drill program and the prompt delivery of assay results to the market over the coming weeks."
Selected Historical Drill Highlights from the Shumagin Gold Zone**:
*True widths of the mineralized intervals are close to 70-80% of Core Length
**DDH-26, 28, 35, 42, 46, 51, 57 & BMS-01 are historic in nature and are not reported herein as new drill results
**11SH007-010 and 15SH011-018 have been previously disclosed and may be viewed on Redstar's Website at www.redstargold.com/news/
Please refer to Redstar's website (www.redstargold.com/s/Shumagin_2016) to see complete results from Shumagin, which also includes previously reported samples from historic trenching and samples taken during 2014 and reported in Redstar's press release dated December 22, 2014.
About The Unga Gold Project
The 100% controlled Unga Gold Project covers key strategic portions of adjacent Unga and Popof Islands, approximately 900 kilometers southwest of Anchorage, Alaska. Redstar controls a 240 square kilometer land package that is host to numerous structurally controlled, volcanic hosted intermediate-sulfidation epithermal high-grade vein, breccia, stockwork and disseminated gold-silver occurrences.
The Unga Project has excellent infrastructure, including direct daily flights from Anchorage, a deep-sea port and a temperate climate. The former Apollo-Sitka gold mine, located on the southern Apollo-Sitka Trend, was Alaska's first underground gold mine and the site of historic high-grade gold production.
Jesse C. Grady, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
About Redstar Gold Corp
Redstar is a junior exploration company that is well financed with approximately $5,000,000 in its treasury. The Company is currently focused on advancing its 100% controlled high-grade intermediate-sulfidation epithermal district scale Unga Gold Project. In addition, Redstar controls 2 board seats and 29.9% of NV Gold Corp. (TSXV: NVX), and controls 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
Toll Free: 877.310.3330
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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.