Friday, September 28, 2007

Redstar Gold Corp (V.RGC) AGM - Sept 25/07

Redstar Gold Corp (v.RGC) AGM – Sept 25/07
Scott Weekes, CEO

The same four directors were re-elected – Weekes, Fulcher, Nicol, McInnis.

They have extended the Anglogold/Ashanti database deal for one more year.

Last private placement saw Pinetree take the majority of the units.

Drilling in Nevada – JV with International Tower Hill Resources, who are very aggressive drillers. They will be drilling their 4th hole at Painted Hills. Assays from the earlier holes will be forthcoming in the next few weeks.
At North Bullfrog – they will start drilling in January 2008, testing 3/8 targets, about $1M program.
Also discussing with 3 other groups, who are quite interested in some of the projects.

Drilling program at Red Lake – likely to be drilling before November. Budget is about $800,000 to $1M. They will follow up on the high grade intercept that yielded great results previously at Newman-Todd. Fairly shallow drilling but will be going deeper on 2-3 holes.
Cash in hand - $1.6M

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