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Redstar Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/23/12 -- Redstar Gold Corp (TSX VENTURE:RGC) ("Redstar" or the "Company") is pleased to announce that it has arranged a non-brokered private placement of up to 13,333,333 units at a price of $0.15 per unit (the "Units") for gross proceeds of $2,000,000 (the "Offering"). Each Unit will consist of one (1) common share and one-half (1/2) of one (1) non-transferable share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one (1) additional common share of the Company for a period of eighteen (18) months from the closing date of the Offering at an exercise price of $0.25 per common share.

In connection with the private placement, the Company may pay finders' fees pursuant to the policies of the TSX.V. The Company anticipates that there may be insider participation in the above private placement, for which the Finders will not receive a commission. Proceeds from the offering will be used by Redstar for exploration on its Alaskan properties and general ongoing corporate matters.

The above private placement is subject to all regulatory and board approvals.

On Behalf of the Board,

Redstar Gold Corp.

R. Bob Singh, President and CEO

Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Redstar Gold Corp.
Tim Mikula
Business Development
604.488.0051
604.488.0053 (FAX)
[email protected]gold.com
www.redstargold.com

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