Redstar Gold Announces Stock Options
Vancouver, BC / TheNewswire / March 3, 2016 - Redstar Gold Corp. (TSX.V: RGC) ("Redstar" or the "Company") announces that it has granted an aggregate of 5,400,000 incentive stock options (the "Options") to officers, directors and consultants of the Company. 5,200,000 of these Options are exercisable at $0.05 per share for a period of five years from the date of grant, with all Options vesting immediately. The remaining 200,000 Options are exercisable at $0.05 per share for a period of two years from the date of grant with all Options vesting immediately. The Options were approved and finalized by the Board of Directors on March 2, 2016.
The Options are subject to the policies of the TSX Venture Exchange.
About RedStar Gold Corp.
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project. The Unga Gold Project contains several high-grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production and hosts Alaska's first underground gold mine. The Company completed an eight hole, 1,500 metre diamond drill program in May 2015 on the Shumagin Gold Zone which yielded several very high gold grade intersections, such as 202g/t Au over 1.9 m and 35.3g/t Au over 2m. This drill program demonstrated continuity of the Shumagin Gold Zone at depth and along strike.
Redstar has a portfolio of eleven (11) properties in Nevada located along and within many of the gold producing trends. In 2005 Redstar acquired AngloGold Ashanti's entire Nevada database after AngloGold redirected its exploration focus from North America to South America. Following the purchase of the database and over several years Redstar assembled the current portfolio of properties. Redstar is currently seeking suitable partners to advance its Nevada portfolio.
Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.
On Behalf of the Board of Directors,
Peter A. Ball, President and CEO
For additional information please contact:
Paul Durham, Investor Relations
T: 604.245.5861
Toll Free: 877.310.3330
E: pdurham@redstargold.com
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.
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