Unga Project Unaffected by Earthquake near Aleutian Islands

2020-10-20 / @thenewswire

(TheNewswire)

Vancouver, Canada – TheNewswire - October 20, 2020 - Redstar Gold Corp. (TSXV:RGC), (OTC:RGCTF), (FRA:RGG) ("Redstar" or the "Company") confirms reports of an earthquake, located 91 kilometers south east of Sand Point, yesterday afternoon. Along with the earthquake, which is reported to have been 7.5 on the Richter scale, Tsunami warnings were issued. The Tsunami was negligible at Sand Point and Unga with a sea swell of approximately 60cm was noted at Sand Point.

Emergency procedures were quickly followed by the Redstar Gold Exploration team on Unga Island who immediately sought higher ground. The earthquake was felt at site, but no injuries or damage was noted, and exploration activities have resumed today.

The exploration program on Unga Island is progressing on plan. There are three rigs currently operating at three sites, SH-1, Apollo-Sitka and Aquila. The objective is complete 6,500m to 8,000m by the end of the program in November.

Contact Information

Charles Funk

Chief Executive Officer

Redstar Gold Corp

Email: charles.funk@redstargold.com

About Redstar Gold Corp.

Redstar is a well-financed junior exploration and development company with a portfolio of high-grade projects in Alaska and Mexico. The company’s flagship asset is the 100% controlled Unga Gold Project on Unga and Popof Islands in Alaska. The project hosts an intermediate sulfidation epithermal gold deposit, located within the district-scale property that encompasses 240km2 across the two islands. Additional targets on the property include porphyry, high sulphidation and intermediate sulphidation epithermal veins. On Unga Island, priority targets include: the SH-1 and Aquila high-grade gold zones, both on the Shumagin Trend, the former Apollo-Sitka mine, which was Alaska’s first underground gold mine and the Zachary Bay porphyry gold-copper district. The gold mineralization at the Centennial Zone is located on neighbouring Popof Island, within four kilometres of infrastructure and services at Sand Point.

In Mexico, the company owns 100% of three early stage epithermal projects in Sonora that are highly prospective for gold and silver. Cumaro forms part of the El Picacho district, while the Oso Negro and La Lola projects are also prospective for epithermal gold-silver mineralization.

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". 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 "would", "may", "could" or "should" occur. Forward-looking statements in this press release include Redstar’s expectations that name change and share consolidation will take effect as planned. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those 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.