GoldStar Signs Gold Mining Agreement with Placer Mining Corp

PHOENIX, AZ / ACCESSWIRE / March 26, 2015 / GoldStar Northamerican Mining, Inc. (OTC Pink: GDSR), an emerging, surface gold mining company with operations in Arizona, today announced it signed an agreement with Placer Mining Corp (PMC) to process a 100,000- ton gold bearing placer gravel stockpile and to explore PMC’s 6400 acres in the Plomosa mining district with the option to mine placer deposits on that acreage. Goldstar plans to set up its licensed proprietary F-Gem extraction equipment on site.

Commenting, GoldStar CEO Craig L. Parkinson, said, “This agreement marks a significant milestone for GoldStar as we seek to capitalize on our ability to extract and recover low cost gold from this property. Both the attractive location of this acreage position and the superior ability of F-Gem’s technology make this a very exciting project for GoldStar. I look forward to continuing the personal friendship and professional relationship I have had with the management at PMC for 10 years, and to successfully develop the gold mining projects that PMC controls in the gold-producing Plomosa Mining District.”

The Gold Mining Agreement with PMC includes a favorable land package of 10 square miles of mining claims, equivalent to 6400 acres. GNM has the option to purchase and begin mining the most favorable claims on a long-term basis. The number of claims included in the Lease-Purchase Option will be based on the results of gold-content identification that GNM will conduct in the early stages of the operation. Gold content testing will be conducted for at least 180 days to identify the most favorable areas for mining. Based on the results, GNM intends to purchase the claims that are economically feasible for mining and processing.

As part of Gold Mining Agreement, GNM will provide an initial payment to PMC of $50,000. In addition, GNM will provide to PMC 5% gross proceeds from gold and other precious metals recovered during the extraction process and a royalty payment equivalent to 10 ounces of gold (or cash) per month. The Agreement may be renewed after one year and may be modified as necessary with written agreement by GNM and PMC.

About GoldStar Northamerican Mining, Inc.

Phoenix, Arizona-based GoldStar Northamerican Mining, Inc. (www.GoldStarMining.com) is an emerging, junior gold mining company with operations on prime surface, placer gold-bearing properties in the historically prolific Plomosa Mining District of southwest Arizona.

About Placer Mining Corp.

Placer Mining Corp is a U.S.-based junior exploration and mining company engaged in the acquisition, exploration, development, and production of gold deposits and historic gold mines, most notably in Arizona. PMC also pursues precious metals properties and opportunities within the mining industry throughout the United States.

PMC has been successful at identifying superior mining properties and targets them for future acquisition, expansion, exploration, bulk sampling, development, and production. They desire to incorporate ecologically friendly exploration and mining techniques, such as those proposed by GoldStar’s unique F-Gem technology. PMC has been exploring and developing placer gold projects in the Plomosa Mining District since 2005.

Safe Harbor

Statements released by GoldStar that are not purely historical are forward-looking within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company’s business prospects and performance. The company’s actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

Contact 

GoldStar Northamerican Mining
Tel: 602-772-3968
E: IR@goldstarmining.com

SOURCE: GoldStar Northamerican Mining, Inc.

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