EST

Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is
pleased to announce that Cliffs Natural Resources Exploration Inc., a wholly
owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(Paris:CLF)
("Cliffs"), has accepted the Yanac Property as a Joint Venture Project. Cliffs
and Estrella each now hold a 50% interest in the property, and Cliffs must spend
a firm commitment of US $500,000 in year one on exploration or payment to
Estrella; with an additional US $250,000 (not firm) to a total of US $750,000 to
maintain their interest beyond year one. Details of the Agreement are included
below.


The Yanac Project is located 50 km northwest of the town of Chincha in the
department of Ica in south-central Peru. The project contains 5,200 hectares
that were acquired by Estrella through concession applications in April of 2011
within the Exploration Alliance Agreement with Cliffs (see prior news releases).
Results to date identify a prospective outcropping area covering 1.0 km x 0.75
km containing a porphyry-copper style quartz-iron oxide stockwork zone, with 3
centers of silicification, within a phyllic alteration zone. The alteration and
mineralization is hosted by a plagioclase-hornblende-biotite quartz-eye porphyry
intrusion of probable Cretaceous age. Initial rock samples over a 300 x 200
meter area returned copper values ranging from 0.12- 2.9%, with 8 of those
samples greater than 0.74%. A systematic grid sampling program was completed
with three hundred and five (305) samples of approximately one meter square chip
samples, collected on a 100 meter square grid. Assay results identify a
continuous core area containing 0.2 - 2.8% copper covering an area extending
approximately 900 meters (north-south) by 400 meters (east-west). Copper
mineralization is closely related to stockwork development within this porphyry
system. Outcropping mineralization occurs within a zoned ASTER alteration
anomaly which suggests that the mineralized system may be much larger, extending
beneath surrounding covered areas. The outcropping copper mineralization occurs
within phyllic, or sericitic facies alteration assemblages which suggests that
higher grade, and/or larger areas of copper mineralization may be present at
depth. The property contains four historical drill holes located outside the
main zones of mineralization, however analytical results are not available.


Mr. Mark Brown, President and CEO of Estrella, commented, "Yanac is an exciting
new porphyry copper discovery that provides Estrella with the upside of a major
deposit, if exploration is successful. The identification and selection of Yanac
demonstrates the benefits of our prospect generator model."


EARN-IN TERMS: Cliffs can acquire an additional 20% interest in the Yanac
Project, to a total 70% interest, by spending a minimum of US$4,000,000
(including the above mentioned US$750,000) and completing 3,000 meters of
drilling within four years of selection. If Cliffs fails to acquire the
additional 20%, the property reverts to Estrella. Upon earning 70%, Cliffs can
acquire an additional 10% interest in the Yanac Project, to a total 80% by
completing an NI 43-101 Compliant Pre-Feasibility Study or by defining a
compliant Mineral Resource containing a minimum of 1,000,000, ounces of gold or
gold equivalent, within four years of earning its 70% interest. If Cliffs elects
not to earn an additional 10% interest, Cliffs will pay Estrella US$2,000,000
within 60 days and the parties will fund their proportional interest, subject to
conventional dilution. If either party's interest in the Project is reduced to
10%, that interest will be convert to a 2% NSR royalty.


QA/QC: Rock samples were collected as described and in accordance with accepted
industry standards and procedures. The samples were submitted to the ALS Chemex
Labs (ISO 9001:2000 accredited) in Lima, Peru for analysis. Gold was analyzed by
fire assay with an AAS finish and multi-element analyses were determined with
aqua regia digestion and ICP MS/AAS techniques. The Company conducts routine
QA/QC analysis on all assay results, including the systematic utilization of
certified reference materials, blanks and field duplicates.


About Estrella Gold Corporation (TSX VENTURE:EST) - Exploration is risky and
Estrella is seeking to increase the chances of success as a "Prospect Generator"
focused on gold exploration in Latin America. Estrella identifies and acquires
new mineral properties, and then conducts initial, low-cost exploration to
define a potential new deposit. Once defined, Estrella forms joint ventures with
other companies that will provide funding and reduce Estrella's risk and
expenditures. The Prospect Generator business model allows Estrella to
aggressively seek the next major discovery. Estrella has twenty-three (23)
active exploration properties in Peru, with fourteen (14) held in venture
agreements, most in a strategic exploration alliance with Cliffs. Of the nine
properties held 100% by Estrella, the Company has six new epithermal gold
targets, two early stage epithermal gold targets, and the Colpayoc gold-porphyry
target which has a NI 43-101 compliant inferred gold resource containing 313,000
ounces of oxide gold (19.3 Mt @ 0.5 g/t gold, Global Geotechnologies Inc.; News
Release dated 12/21/2011). The Company has 31.7 million shares issued and
outstanding on the TSX Venture Exchange (TSX VENTURE:EST). Mr. Keith A.
Laskowski, MSc., is the Company's Qualified Person for the purposes of National
Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian
Securities Administrators, and has prepared, reviewed and verified the technical
information contained in this news release. Further information is available at
Estrella Gold's website: www.estrellagold.com.


STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION,
INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR
EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING
STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS
AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT,
ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Estrella Gold Corporation
Mark Brown, CA
President and CEO
(604) 687-3520
(888) 889-4874 (FAX)
mtbrown@pacificopportunity.com
www.estrellagold.com

(TSXV:EST)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

(TSXV:EST)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024