Montréal, Québec – April 26, 2017 – Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V: GDM) is pleased to announce that following the Mineral Option and Sale Agreement with Campfire Resources Ltd and Southfield Resources Ltd with respect to the Victoria Lake Tin Property, the Company has proceeded with the staking of 315 additional claims, now totaling 363 claims. These new claims are 100% owned and represent approximately an additional 7,875 hectares (78.8 km2), thus enlarging the property size to 90.8 km2.
Based on preliminary compilation work, Goldstar believes that this additional staking encompasses new promising kilometric structures that may be associated to known tin occurrences and detailed exploration is warranted to confirm such a possible link.
The Victoria Lake Tin Property extends East-West over a distance of nearly 20 kilometres from the Mount Pleasant area to the southeast of Victoria Lake. The enlarged property immediately borders to the south the former Mount Pleasant tungsten and molybdenum mine owned by Adex Mining Inc. which has published a National Instrument 43-101 indicated resource of 12.4 million tonnes at 0.38% tin (Sn), 0.86% zinc (Zn) and 64 ppm indium (In). Access to the property remains excellent all year round and close to infrastructure.
Goldstar is focused on developing deposits that contain gold and technology metals such as high-value tungsten and tin, in leading mining jurisdictions in Canada. The Victoria Lake Tin Property is close to existing infrastructure that would provide lower and reasonable exploration costs.
New Corporate Presentation
The work accomplished in the 2016 campaign has significantly improved and expanded the potential at the Company’s exploration properties. Furthermore, new projects have improved the Company’s exploration portfolio. A new corporate presentation reflecting these developments can be found on the corporate website at the following link www.goldstarminerals.com/documents/en/2017/corporate_presentation_april_2017.pdf
Goldstar will continue its review and compilation of all available data pertaining to the Victoria Lake Tin Property. The Company intends to design an early stage exploration program which will combine geophysics and surface prospecting in order to advance the project to the drilling stage within the next 12 months.
Benoit Moreau, President and CEO of Goldstar comments: “These new acquired claims further strengthen the Company’s presence in an area known for its tin occurrences. Goldstar intends to aggressively pursue the opportunity for discovering new tin mineralization with an innovative exploration program.”
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information, please contact:
President and Chief Executive Officer
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This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.