VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2012) - Redstar Gold Corp. (TSX VENTURE:RGC) ("Redstar" or the "Company") is pleased to announce the appointment of Mr. R. Bob Singh, P.Geo., as the Company's new Chief Executive Officer and as a member of the Board of Directors, effective August 1, 2012. Bob will be stepping into the role as CEO which is currently held by Mr. Scott Weekes. Mr. Weekes will remain as the President of the Company as well as on the Board of Directors.
Bob Singh joined the Redstar team in 1996 to help develop several of the Company's most important projects. Bob has also played a key role in the discovery and advancement of the Newman Todd high grade gold project in Red Lake, Ontario currently under option to Confederation Minerals. Mr. Singh received his B.Sc. in Economic Geology at the University of British Columbia in 1991 and has worked in the mineral exploration industry for over 23 years. Mr. Singh has worked for both junior and major mining companies as well as being the founder and President of North Face Software Ltd.
Scott Weekes, President of Redstar stated: "I am extremely pleased to have Bob join Redstar's board and take on the mantle of CEO. He has been instrumental in the development of the Newman Todd Project in the prolific Red Lake camp and our Unga project in Alaska. Bob's strong leadership and keen corporate and technical skills will be invaluable in growing our Company's shareholder value with its suite of exceptional high-grade discoveries. "
Bob Singh, Redstar CEO, states, "The Redstar portfolio of properties hold tremendous value and I look forward to unlocking that value for shareholders. Redstar's ability to discover and develop high grade systems throughout North America is well known and I plan to continue and accelerate that corporate advantage in the months and years to come to make Redstar one of the leading explorers in our industry."
About Redstar Gold
Redstar has fourteen gold projects in Nevada, the Unga project in Alaska and the Newman Todd project in the Red Lake district, Ontario. In Nevada, several projects are undergoing active exploration by partners including Newmont Mining and others. The Unga Project in Alaska includes the high-grade Shumagin gold deposit, the Centennial disseminated bulk-tonnage gold deposit and the Apollo-Sitka high-grade gold vein system, which produced approximately 150,000 oz. of gold in the early 20th century. The Newman Todd project contains a 2 km-long corridor of high-grade gold mineralization that is similar to that at the nearby world-class Red Lake Mine and has been the focus of an aggressive drilling campaign in 2011.
The Company also reports that it has granted incentive stock options to purchase up to an aggregate of 400,000 shares to directors and employees of the Company. The options are exercisable at a price of $0.20 for a period of five years.
The foregoing is subject to regulatory acceptance.
On Behalf of the Board,
Redstar Gold Corp.
Scott Weekes, President
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.
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.