March 28, 2017: Redstar Gold Corp. (TSX.V: RGC, OTCQB: RGCTF, FRA: RGG) ("Redstar" or the "Company") is pleased to announce that the Company's technical team has been mobilized to the high-grade Unga Gold Project to commence its Spring Exploration Program in early April. The program will follow-up on the successful results of the 2016 Fall Exploration Program, which expanded the drilled strike length of the Shumagin Gold Zone by 600 meters to approximately 950 meters, and highlighted the strong continuity of high-grade mineralization along strike and at depth. The Shumagin Gold Zone remains open in all directions.
"Our technical team recently completed a data compilation and geological modelling study utilizing all technical data from the successful 2016 exploration season to ensure we lever off the progress we made in last year's successful programs to maximize our efforts heading into our 2017 Spring Exploration Program. We are now prepared to execute on one of our busiest exploration programs in our Company's history at the project, and the team is in Alaska and mobilizing to the Unga Gold Project this week" Redstar's President & CEO, Peter A. Ball, stated. "Results from 2016 Fall Program significantly increased the drilled strike length of the Shumagin Gold Zone, and highlighted the continuity of mineralization along strike and at depth. We are excited to be in a position with a strong treasury to further test the potential of the Shumagin Gold Zone to the southwest, first with a detailed and focused geophysical program, and secondly with a targeted drill program. The Shumagin Gold Zone is our priority heading into the 2017 Spring Exploration Program, but with numerous other gold zones within the Unga Gold Project, the opportunity for multiple gold discoveries remains high."
"Please also visit our new and updated corporate website at www.redstargold.com."
Review of the 2017 Spring Exploration Program:
- Commencing in early April, complete a ground-based geophysical program that will test the geophysical responses associated with well-known geological features and high-grade gold mineralization located across the Shumagin Gold Zone. The orientation survey is completed to provide a potential geophysical fingerprint that will be used to target additional structures to the southwest, and potentially across other known gold zones across the island.
- Complete preliminary metallurgical work to test gold-silver bearing mineralization drilled across the Shumagin Gold Zone during 2016.
- Execute a focused drill program, initially up to 5,000 meters, on step out drill holes to the southwest of the Shumagin Gold Zone. Additional drilling and other gold zones will be potentially tested based on current geological models.
- Begin work towards building a preliminary resource on the Shumagin Gold Zone.
Geological Highlights of the Shumagin Gold Zone and Trend:
- The Shumagin Gold Zone is currently defined over a strike length of approximately 1.2 kms by surface mapping and sampling.
- Geological mapping and sampling towards the southwest from Shumagin indicates a very strong expansion potential along strike for an additional three (3) kms towards Orange Mountain, the interpreted hydrothermal center along the Shumagin Trend.
- The Shumagin Trend is approximately 9.5 kms long, and is a major regional structure responsible for the localization of epithermal mineralization and associated alteration exposed about its strike length.
- Results from the 2016 fall drill program at the Shumagin Gold Zone, indicate that high-grade gold-silver mineralization occurs at depth for approximately 950 meters of tested strike length, is vertically extensive (to approximately 330 meter at depth), and remains open at depth across the entire strike length.
About the Unga Gold Project
The 100% controlled Unga Gold Project is an intermediate-sulfidation epithermal district located along the Alaskan Peninsula on adjacent Unga and Popof Islands, approximately 950 km southwest of Anchorage, Alaska. The 240-km2 property contains numerous volcanic-hosted, structurally-controlled and disseminated gold-silver mineral occurrences localized along at least two (2) regional structures (Shumagin Trend and Apollo-Sitka trends), each measuring approximately 9.5 km long. High-grade gold zones drilled or identified at surface occur within dilation zones along the regional and/or subsidiary structures and are the main exploration target-type for the project. The Shumagin Gold Zone is only one of several noteworthy gold-silver structures found on Redstar's Unga Gold Project and is a high-priority exploration target.
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 well-financed junior exploration company, with a very strong institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its high-grade Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is 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 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 (~10 g/t Au) gold production. The Unga Gold Project has extensive infrastructure with daily flights from Anchorage landing on a one mile long paved airstrip and a deep-water port on neighboring Popof Island, and a moderate climate noting it resides at the 55th degree latitude and next to the ocean. In addition, Redstar owns approximately 22.2% 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,
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.