Winter Drilling Program reveals high-grade gold and silver. 21.2 m grading 5.8 g/t gold and 12.6 g/t silver including 5.2 m grading 21.4 g/t gold and 33.5 g/t silver in drill hole LM-11-40

VANCOUVER, June 09/PRNewswire/ – First Star Resources Inc. (TSXV: FS) (“First Star”) is pleased to announce the results of its 2011 winter drilling program on its flagship property, LMS, in Alaska. The LMS property is under Joint Venture with Corvus Gold Inc. (A spin off from International Tower Hill). (TSX:KOR.toNews). The LMS claim block is located in the Goodpaster Mining District of Alaska and consists of 92 State of Alaska mining claims covering 61 square kilometers.

In March and April 2011, First Star Resources drilled two NC core holes totaling 640 metres within the Camp Zone area of LMS. While drill hole LM-11-40 was successfully completed, LM-11-41 had to be abandoned due to technical difficulties. Highlights of drill hole LM-11-40 include 21.2 m grading 5.8 g/t gold and 12.6 g/t silver in the gold-bearing graphitic quartzite breccia, including 5.2 m grading 21.4 g/t gold and 33.5 g/t silver.

CEO John Campbell stated. “We are very excited about the results of the 2011 winter drilling program at LMS. High grade gold and silver grades over significant intercepts within the graphitic quartzite breccia clearly demonstrate the potential of the Camp Zone area. We just started with our 5,000 metre summer drilling program at LMS and are excited about the potential the LMS property has to offer”.

Table 1: Significant drilling results of drill hole LM-11-40, Camp Zone, LMS Gold Project, Alaska.

LM-11-40

From (ft) To (ft) Interval  (ft) Interval (m) Gold (g/t) Silver (g/t)
638 707.5 69.5 21.2 5.8 12.6
Including
690.6 707.5 16.9 5.2 21.4 33.5

A 0.2 g/t cut off for gold used for composite calculations.

All exploration work on the LMS property is conducted by First Star’s exploration contractor Pacific Rim Geological Consulting Inc. of Fairbanks, Alaska, under the supervision of Dr. Karsten Eden, Vice President Exploration of First Star Resources Inc. All sample shipments are sent to ALS Chemex in Fairbanks, Alaska, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assay. ALS Chemex’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. First Star has its own quality control / quality assurance programs in place.

The technical information in this news release was reviewed by Dr. Karsten Eden, First Star’s Vice President Exploration, and a Qualified Person as defined in NI 43-101.

About First Star Resources Inc.

First Star Resources is a junior exploration company focused on gold exploration in the world famous Tintina Gold Belt in Alaska. The Tintina Gold Belt hosts major gold deposits and several mines, such as; Fort Knox Mine – 3.7 million oz. gold, the Donlin Creek deposit – 33.5 million oz. gold, the Livengood deposit- 8.1 million oz gold, White Gold deposit- 1.4 million oz gold (Recently taken over by Kinross Gold Corp), and the Pogo Mine 5.6 – million oz gold, which is adjacent to one of First Stars Resources’ key targets for this year, the LMS and WP property. The LMS and West Pogo properties have well defined Gold Targets which First Star Resources will be addressing in 2011.

 

Visit the Company’s website, www.firststarresources.ca

 

ON BEHALF OF THE BOARD

John Campbell, President & CEO

For More information contact:
Investor Relations

604-608-0300
ir@FirstStarResources.ca

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DISCLAIMER

Forward-looking statements relating to future events or future performance and reflecting First Star Resources or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” ,or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of First Star Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Petro Horizon’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although Petro Horizon has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
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