December 20, 2016: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") announces the granting of 3,000,000 incentive stock options (the "Options") to officers and directors of the Company. These Options are exercisable at CDN$0.155 per share for a period of five years from the date of grant.
2,500,000 options will be granted to the Company's CEO, in accordance and defined within his employment contract signed December 24, 2015. This option grant fulfills the terms of the employment agreement. The exercise price and grant was calculated by applying a premium of 15% of the volume weighted average price for the first 10 trading days of December 2016. These options will vest immediately.
The additional 500,000 options are to be granted to Mr. George Ireland, who joined the Redstar Board as a non-executive Director in November 2016. The options will also vest immediately.
The Options are subject to the policies of the TSX Venture Exchange.
About Redstar Gold Corp
Redstar is well-financed junior exploration company, with a very strong institutional shareholder base, no debt, and is focused on advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is known as an intermediate sulfidation epithermal high grade gold project on a district scale, with the property encompassing approximately 240 km2, and containing multiple high grade gold zones drilled or identified at surface. The Unga Project also hosts Alaska's first underground producing gold mine, has extensive infrastructure with daily flights from Anchorage and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 57 degree latitude and next to the ocean. In addition, Redstar owns approximately 26.6% of NV Gold Corp. (TSXV: NVX). Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
On Behalf of the Board of Directors,
For additional information please contact:
T: +44.708.026.8247 | Toll Free: 877.310.3330
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.
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.