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Winter Drilling Program at LMS to Start Next Week Targeting High Grade Gold Zone and Development of Corebox 3D Model of the LMS-Camp Zone

March 17, 2011

OTCBB: FSRFF                                   FSE:
F2U                                            TSX.V: FS

VANCOUVER, March 17 /PRNewswire/ – First Star Resources Inc. (TSXV: FS)  (“First Star”) is pleased to announce that it will start its 2011
exploration drilling program on its flagship property, LMS, in Alaska
next week. The LMS property is under Joint Venture with Corvus Gold
Inc. (TSX: KOR), A spin off from International Tower Hill. During the
next few weeks, First Star intends to drill 1,000m plus of oriented
diamond core on its LMS property. Drilling will continue to assess the
existing Camp Zone in an effort to: 1) expand the gold-bearing
graphitic quartzite breccias; and 2) to drill a NE-striking structural
corridor within the lower gneiss zone that is known to contain high
grade gold mineralization. First Star believes this corridor to be an
important structural control for gold mineralization. This winter
drilling program will be followed up by an aggressive 5,000m plus
drilling program this summer. The company intends to have a new
resource estimate completed by the end of 2011 which will also include
silver.

First Star Resources has contracted Spring Valley Drilling Inc. for its
winter and summer core drilling program on its LMS gold and silver
property. All exploration work on the LMS property will be 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 will be 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 will have its own quality control / quality
assurance programs in place.

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 September 2010, First Star drilled three NC core
holes totaling 3,618 feet (1,103 metres) within the Camp Zone area of
LMS. The goals of this drilling program were to: 1) expand the
stratiform gold-bearing graphitic quartzite breccia horizon; and 2)
confirm the extent of high-grade gold vein feeder zones in the lower
gneiss zone. All three holes were designed to test both targets. The
results of this drilling program were announced were announced on
November 10, 2010 (http://firststarresources.ca/2010/11/first-star-resources-2010-drilling-on-lms-2-51-gt-gold-and-9-84-gt-silver-over-19-05-meters/).

First Star is very pleased with its recent achievements on the LMS gold
property: 1) the company successfully determined that the thickness of
the gold bearing graphitic quartzite breccia is greater than previously
thought and encountered significant gold and silver grades within the
graphitic quartzite breccia, as well as, directly above and below the
graphitic quartzite breccia in schist; and 2) successfully delineated
the high-grade gold vein feeder systems in the lower gneiss zone.

First Star wishes further to announce that is has contracted Corebox.net
to create a 3D model of the LMS Camp Zone drill area presenting the
gold and silver drill results of the 2005, 2006 and 2010 drilling
programs. First Star believes that it is important for our investors to
be able to visualize where the drill intercept is located relative to
other drilling in order to understand its significance. This 3D model
will be updated throughout the drilling season. The LMS – Camp Zone 3D
model can be viewed at http://www.corebox.net/properties/lms/index.php?deposit=619.

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
West Pogo 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          

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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 First Star Resources’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 First Star Resources on 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.

“NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE First Star Resources Inc.


Source: newswire



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