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Estrella Gold Closes Private Placement for $600,000

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/15/14 -- Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce that the non-brokered private placement offering announced on April 29, 2014 and May 7, 2014 and increased on May 13, 2014 has been closed.

Certain strategic investors have participated in the financing. The management team and several shareholders have also increased their positions. The support of the current shareholder group is a significant benefit to Estrella in working to achieve its goals.

Estrella issued 12 million units (a "Unit") at $0.05 per Unit for gross proceeds of $600,000. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a 36 month period, expiring on May 15, 2017 at a price of $0.10 per common share starting from the date of closing.

The securities issued pursuant to the Offering will all be subject to a 4 month regulatory hold period expiring September 16, 2014.

About Estrella Gold Corporation (TSX VENTURE:EST)

Mineral exploration is inherently risky and Estrella increases the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define new targets and then seeks joint ventures with other companies to fund more advanced exploration. Estrella has two properties optioned out or held in joint venture agreements. The Company is listed on the TSX Venture Exchange (TSX VENTURE:EST). Mr. John Wilson, BSc, MS, is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.

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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

Contacts:
Estrella Gold Corporation
Jason Weber
President and CEO
(604) 687-3520
(888) 889-4874 (FAX)

Estrella Gold Corporation
Sandrine Lam
Shareholder Communications
(604) 687-3520
(888) 889-4874 (FAX)
www.estrellagold.com

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