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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2447)	12/6/2013 9:56:22 AM
From: Goose94	Read Replies (2) \| Respond to of 203362

Redstar Gold (RGC-V) has completed the purchase of 100 per cent of the Shumagin property, a core land package to the company's high-grade Unga project in southwest Alaska. This transaction has now secured 100 per cent of this royalty-free land package which hosts a historic (non-43-101-compliant) resource estimate of 254,000 tonnes (280,000 tons) grading 27.4 grams per tonne (0.80 ounce per ton) gold and 127 g/t (3.7 ounces per ton) silver (SRK Consulting, 2000). The resource was based on shallow drilling in the late 1980s that was within about 150 metres (500 feet) 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 approximately 150,000 ounces of gold in the early 20th century. The mines produced from two kilometres of a structure which extends for at least seven km and remains open at depth. R. Bob Singh, president and chief executive officer of Redstar Gold, comments: "We are pleased to have completed the purchase of the Shumagin property. We look forward to Redstar's next phase of exploration of this exciting new high-grade gold-silver discovery which is one of several exploration projects planned for the Unga district in 2014." The company also reports that Torrey Hills Capital has been engaged for an initial term of six months at a monthly fee of $5,000 (U.S.). In addition, Redstar has agreed to grant options to Torrey Hills Capital to purchase 400,000 common shares of the company exercisable at a price of eight Canadian cents per common share for a period of three years from the date of grant. The options shall be subject to the terms of the company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange. The appointment of Torrey Hills Capital as an investor relations consultant of Redstar and the granting of the options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange. In addition, the company reports that it has reached settlement agreements to issue 11,486,102 common shares of the company in payment for consulting services rendered to the company by several arm's-length service providers over the past 24 months at a deemed price of eight cents per common share, this transaction is subject to regulatory approval. In addition, the company also reports that it has granted incentive stock options to purchase up to an aggregate of 600,000 shares to a consultant to the company. The options are exercisable at a price of 20 cents per share for a period of one year and shall be subject to the terms of the company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange. Dr. Jake Margolis and Andrea Diakow, PGeo, are the qualified persons as defined by National Instrument 43-101 and have reviewed this news release. Dr. Margolis is the U.S. exploration manager for Redstar Gold and Mrs. Diakow is the Canadian exploration manager for Redstar Gold.