Vancouver, BC / ACCESSWIRE / May 6, 2014 / Redstar Gold Corp. (TSX.V: RGC): ("Redstar" or the "Company") reports that it has granted incentive stock options to purchase up to 450,000 shares to a director and officer of the Company. The options are exercisable at a price of $0.06 for a period of five years.
The foregoing is subject to regulatory acceptance.
About Redstar Gold Corporation
The Unga Project in south western Alaska consists of two properties acquired by Redstar in 2011: the Unga-Popof and Shumagin properties. The 100% owned Shumagin property hosts a historic (non 43-101 compliant) resource estimate of 254,000 tonnes grading 27.4 g/t gold and 127 g/t silver (SRK Consulting, 2000). The resource was based on shallow drilling in the late 1980's that was within about 150m of surface. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
The property also hosts the three past producing mines from the Apollo-Sitka high-grade gold vein system which produced approx. 150,000 oz. of gold from oxide ore in the early 20th century. The mine produced from a 2km structure, which extends for at least another 7km. and remains open on trend and at depth.
Redstar Gold also holds 50% of the Newman Todd Project in Red Lake Ontario. Newman Todd is a high- grade gold discovery in the 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. Additionally, the Company has 10 properties in Nevada which have been optioned out and upon which Redstar has retained royalties and additional economic rights.
Andrea Diakow, P.Geo. is a qualified person as defined by National Instrument 43-101 and has reviewed this news release.
On Behalf of the Board,
Redstar Gold Corp
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Vancouver, B.C. Redstar Gold Corp. (TSX.V: RGC): ("Redstar" or the "Company") is pleased to announce.
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.
SOURCE: Redstar Gold Corp.