Vancouver, Canada / TheNewswire / March 12, 2019 - Redstar Gold Corp. (TSX.V: RGC) ("Redstar" or the "Company") announces additions to its Board and its management team.
Subject to approvals, Mr. John Gray will join the Company as President effective March 15, 2019. Mr. Gray will also join the Redstar Gold Board of Directors. Mr. Gray is joining Redstar Gold from Verde Resources where he was Chief Executive Officer. Prior thereto Mr. Gray was Chief Operating Officer of Tesoro Minerals and before that was the Chief Executive Officer of African Aura Resources. Mr. Gray is a geologist having graduated from the Royal School of Mines, London with a B.Sc. in Geology.
Jacques Vaillancourt, Executive Chairman of Redstar said - "We are delighted that John is joining Redstar's management team. We are confident that John will bring the same energy, diligence and professionalism that he successfully brought to his previous executive roles. We believe that the Redstar portfolio of projects, and most particularly our Unga project is significant and requires the type of leadership and cooperation that John has exhibited in his previous roles and will bring to Redstar.
We believe that Unga, with its dual trends of epithermal low to medium sulphidation formation with gold showings over 19 km (2 x 9.5 km) is currently amongst the most exciting and prospective gold exploration projects in North America. In the most recent 43-101 report, 32 distinct areas of mineralization and potential mineralization were defined. The project area includes the Apollo-Sitka Gold Mine which was Alaska's first gold mine produced gold bearing oxide ore for 36 years (from 1886 to 1922)."
The Company also wishes to announce that it has granted incentive stock options to purchase up to 2,500,000 shares to Mr. Gray as part of his compensation package. The options are exercisable at a price of $0.05 for a period of five years.
About Redstar Gold Corp
Redstar is a well-financed junior exploration company, with a very strong, supportive 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 a low to intermediate sulfidation epithermal high-grade gold project with district scale, the property encompasses 240 km2, and contains multiple high-grade gold zones drilled or identified at surface along with some historic reserce estimates (non-43-101 compliant) . 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 can be reached by daily commercial flights from Anchorage to Sand Point landing on a one mile long paved airstrip. Additionally, Sand Point has a deep-water port, and benefits from a moderate climate due to its location at 55? latitude and next to year-round tidewater. In addition, Redstar owns approximately 5 million shares of NV Gold Corp. (TSXV: NVX) and 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.
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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.