October 5, 2016: Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) ("Redstar" or the "Company") announces that it plans to initiate a Phase 2 Drill Program of approximately 1,500 metres on its high grade Unga Gold project in Alaska in late October. The drill program 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.
Redstar's President & CEO, Peter A. Ball, commented, "With the drill rig currently at site, we are immediately mobilizing our technical team to the Unga Gold Project to initiate the drill program by the end of October. The Shumagin Gold Zone has already delivered exceptional high grade gold intersections, and we look forward to the next set of results from the upcoming Phase 2 drill program. The 2016 summer exploration program at Shumagin assisted in refining new exploration targets, and has fully prepared our technical team to initiate the next phase of drilling, which follows significant results from the 2011 and 2015 drill programs. The Shumagin Zone remains the highest priority target amongst numerous other high grade targets that exist in the district, that have a combined strike length of approximately 20 km. Redstar is fully financed for the upcoming Phase 2 drill program, and is well capitalized heading into 2017."
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
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:
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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.