VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 16, 2013) - Eagle Star Minerals Corp., (TSX VENTURE:EGE)(ELGSF)(E6R.F) ("Eagle Star" or "the Company") is very pleased to announce the addition of a new concession, 6,947 hectares in size, to its Bomfim land package. This new concession, contains a target now named "Santiago", and was previously held by mining giant Vale. Santiago is considered to be a highly prospective area for hosting high-grade phosphate mineralization and is strategically positioned between Eagle Star's Bomfim Agro-mineral Project and MbAC Fertilizer's ("MbAC") Itafos-Arraias SSP Project. In fact, on the southeast Santiago borders the discovery site of MbAC's largest and highest grade ore body - Canabrava containing 20.4 M tonnes indicated at an average grade of 5.53% P2O5 and 3.7 M tonnes inferred at an average grade of 4.94% P2O5 (MbAC Technical Report dated March 27, 2013 available at www.sedar.com). Canabrava is an adjacent property to the Bomfim Project containing a deposit with the same deposit model as the targets identified at Bomfim. With the addition of Santiago, the Bomfim Project now comprises a total of 70,531 hectares along the main phosphate belt of Brazil.
Field evidence collected through Eagle Star's due diligence process revealed the presence of substantially sized high-grade phosphorite outcrops where multiple well spaced grab samples analyzed with handheld XRF equipment returned values of over 19% P2O5 (upper limit of equipment) as shown in the following table:
These results suggest that the Canabrava ore body may extend onto Eagle Star's newly acquired claims and that the Santiago target may host a significant high-grade phosphorite zone similar to the high-grade zones already identified on other targets in the Bomfim Project area.
To view a map of the Santiago claims please click here: http://media3.marketwire.com/docs/EagleStar_0716.pdf
"The addition of this new claim clearly adds tremendous exploration potential and strategic value to Eagle Star." Comments Eran Friedlander President & CEO Eagle Star Minerals Corp. "Santiago has been on our radar screen for quite some time now as it perfectly meets all the technical requirements prescribed by the same geological model that has led us to the discovery of the PZE South portion of Bomfim Hill where we have just recently concluded a very successful drill program. With its addition to our already existing list of seven high priority targets, we believe that we are now extremely well positioned to successfully execute on our strategy of proving up multiple ore bodies at Bomfim similar to MbAC's Itafos at the midst of the Cerrado region - the world's most strategic agricultural location."
The reader is cautioned that mineralization identified at Canabrava may not indicate that equivalent mineralization exists on Bomfim at the Santiago target.
Grab samples are by nature selective and the reader is cautioned that they may not be representative of mineralized units on the Property.
XRF readings were collected systematically following recommended procedures of the manufacturer, Innov-X Systems. Prior to analysis, the sample collected is homogenized, dried (using microwave oven) and manually crushed to fine grain. The handheld XRF analyzer is an Olympus Delta model and was calibrated according to Innov-X Systems in-house calibration procedure. The Company conducts field XRF analysis using industry recognized sample preparation and analysis protocols, and has conducted sufficient quality control using the XRF method to believe that although the method cannot be relied upon to have the equivalent precision and accuracy of a certified analytical laboratory, the results are of sufficient quality to direct exploration pending analytical laboratory confirmation.
John Harrop, P.Geo, FGS, of Coast Mountain Geological Ltd., a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the Company.
ABOUT THE COMPANY
Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its' presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.
The Company's shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
Eran Friedlander, President
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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