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Gold Fields Ltd. Options Two Carlin Trend Properties From Redstar Gold Corp.

Posted on: Wednesday, 9 January 2008, 09:00 CST

Redstar Gold Corp. (TSX VENTURE: RGC) is pleased to announce the signing of two letter agreements with Gold Fields Netherlands Services BV, a subsidiary of Gold Fields Ltd. (NYSE: GFI). Under these agreements Gold Fields can earn up to a 70% interest in two properties currently held 100% by Redstar within the Carlin Trend in Nevada. Gold Fields has committed a total of $1.4 million in exploration expenses in the first year of these agreements.

Scott Weekes, President of Redstar, stated: "Redstar is extremely pleased to have a senior gold producer like Gold Fields as a partner on our two Carlin projects. Gold Fields is one of the top gold producers in the world and brings a wealth of expertise in exploration and development to these projects. The $1.4 million in exploration expenditures committed in the first year of the agreements attests to the aggressive approach Gold Fields is taking with these projects."

Tommy McKeith, Gold Fields Limited's Executive Vice President: Exploration, commented, "These agreements with Redstar present Gold Fields with exciting opportunities to develop and test high quality exploration targets within the prolific Carlin Trend. We look forward to working with Redstar Gold to complete successful initial drill tests of these properties during 2008."

The two projects optioned to Gold Fields are the Richmond Summit and Dry Gulch properties. The Richmond Summit property is located 4 miles northwest of the Mike deposit (8.5 M oz gold) in the Gold Quarry district and 5.5 miles south of the Carlin - West Leeville gold mines (greater than 10 M oz gold production plus reserves). Surface sampling has returned gold values up to 7.75 g/t and limited drilling has returned values up to 2.5 g/t gold over 3.28 metres.

The Dry Gulch property is located within 6 miles of the Gold Quarry gold mine (greater than 15 million ounces gold) and 7 miles of the Carlin - West Leeville gold mines (greater than 10 million ounces gold). Geophysics indicates that structures controlling these gold deposits can be traced to the project area, and there is evidence that favourable host rocks may underlie the area at shallow depths. No previous drilling has been completed on the Dry Gulch property.

Under the terms of the agreements Gold Fields can earn a 60% interest in the respective properties by making the following payments and work commitments over four years (all amounts are in US dollars):

                    Cash Payments    Work Commitments Richmond Summit         $290,000          $3,500,000 Dry Gulch               $190,000          $2,000,000 

After earning a 60% interest Gold Fields may earn an additional 10% interest in a property (bringing the total to a 70% interest) by making additional expenditures of $7.5 million at Richmond Summit and/or $5.0 million at Dry Gulch.

About Redstar Gold Corp.

Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario. For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.

On Behalf of the Board,

Redstar Gold Corp.

Doug Fulcher, Director

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

 Contacts: Redstar Gold Corp. Tim Mikula Investor Relations (604) 488-0051 (604) 488-0053 (FAX) Email: tmikula@amemining.com Website: www.redstargold.com  B&D Capital Partners Investor Relations (604) 685-6465  

SOURCE: Redstar Gold Corp.

Source: MARKET WIRE

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