Eagle Star Minerals Receives Assay Results From Channel Samples of Up to 4.0m at 2.77% P2O5 (incl. 3.0m at 3.17% P2O5) that Confirm the Phosphate Mineralization Over 15 Kilometers at Canabrava

Marketwired

VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/05/12)- Eagle Star Minerals Corp. (EGE.V)(ELGSF)(E6R.F) ("Eagle Star" or "the Company") is pleased to announce that composite interval channel sampling results confirm phosphate mineralization within the previously announced 7 meter mineralized package over the 15 kilometers outlined strike area (see press release dated June 21, 2012). Results for an additional eight points are still pending.

The area is located less than 20km to the north of Picos, the third largest city in Piaui State, Brazil. The city is at the center of the state and benefits from good infrastructure including close proximity to large agricultural centers and railroads. The Bocaina dam located at the heart of the concession block, can supply water for the future beneficiation process.

The Canabrava Block is 100% wholly owned and covers 40,678 hectares across 23 mineral claims.

To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/EGEmap.pdf

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.

 

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Package Composite results from
Sector Point Elevation thickness channel sampling (P2O5)
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CB-Central CBG01 278 2m 2.0m @ 1.46%
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CB-North CBG02 290 0.5m 0.5m @ 0.3%
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CB-North CBG03 280 7m 7.0m @ 0.6% incl. 1.3m @
1.7%
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CB-North CBG04 326 5m 5.0m @ 1.1% incl. 3.0m @
1.27% incl. 1.0m @ 2%
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CB-North CBG05 297 4m 4.0m @ 1.3%; including
2.0m @ 1.7%
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CB-South CBG06 239 2m 2.0m @ 1.3%
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CB-North CBG07 285 6.05m 5.15m @ 0.53 including
1.3 m @ 1.3.%
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CB-South CBG08 289 6.7m 5.7m @ 1.4% incl. 2.15m @
2.24% incl. 1.0m @ 3.8%
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CB-North CBG09 415 0.6m 0.6m @ 1.88%
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CB-North CBG10 316 0.7m 0.7m @ 3.35%
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CB-North CBG11 301 4.0m 4.0m @ 2.77% incl. 3.0m @
3.17%
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CB-South CBL01 252 1.5m 1.5m @ 2.42%
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CB-North CBL02 300 2m 2.0m @ 1.77%
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CB-North CBL03 288 2m 2.0m @ 1.71%
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CB-North CBL04 293 2.20m 2.20m @ 2.6%
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CB-North CBL05 296 5.80m 5.80m @ 1.13% incl. 3.50m
@ 1.35%
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CB-Central CBL06 364 1.5m 1.5m @ 0.97%
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CB-North CBL07 393 1.8m 1.80m @ 4.7%
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CB-South CBL09 254 Pending
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CB-South CBL10 279 Pending
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CB-South CBL11 278 Pending
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CB-Central CBL12 290 Pending
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CB-Central CBL13 307 Pending
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CB-Central CBL14 289 Pending
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CB-North CBL15 293 Pending
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CB-North CBL16 330 Pending
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The composite channel samples aggregate both the high-grade sandstone (4-12%) and low- grade siltstone (1-3%) into one average result. Eagle Star intends to separate both materials using a common mining process that relies on the significant difference between their physical attributes (weight, density, grain size) of both materials, thus enabling separation of homogeneous and higher grade fractions to SSP standard grade of 28% P2O5 and use the low grade by product as natural fertilizer.

Chemical and Metallurgical Tests (solubility)

Chemical and metallurgical tests with an objective to determine solubility (conversion of phosphorus in citric acid solution and in CNA+water) are currently taking place. Results from the chip samples that are representative of the mineralized rock types are expected by mid-July.

Positive solubility results rely on the rock characteristics.

Description of thin sections being carried out will also assist the interpretation of the solubility results.

Sedimentary rocks typically show greater phosphate solubility than that of crystalline rocks.

To view the photos accompanying this press release please click on the following link: http://media3.marketwire.com/docs/EGEphotos.pdf

Characterization of lateral and vertical variation of grade and solubility

A study to characterize the lateral and vertical variation of grade and solubility within the materials that compose the mineralized package is ongoing. The locations to conduct the work were selected based on the best composite results, favorable exposure for sampling and the distribution within the mineralized outline. At point CBG-11 (3m at 3.17% P2O5) the sampling will be done on walls within trenches. Pit opening will be conducted at the southern portion, where the geological evidence show that the mineralized package is covered by thin overburden coverage.

To view Lateral and Vertical Variation please click on the following link: http://media3.marketwire.com/docs/EGEvariation.pdf

Perspectives

The potential outline extends over at least 15km in strike and is supported by the spatial distribution of the composite results from channel sampling.

The fact that the rock types are stratified and horizontal by nature, and considering that the composite results from channel samples occur within a topographic interval up to 100 meters, the possibility of having successive packages (with different thicknesses and grades) is believed to be highly likely. The presence of regional lineaments that cross the area may also explain the topographic variation observed.

The cumulative understanding of the geology (local and regional) and the characterization of the elements that control the mineralization is supporting the genetic model that has been developed by Eagle Stars' technical team.

Analytical work was conducted by SGS Geosol Laborato'rios Ltda. at their Vespasiano facility in Brazil. SGS Geosol is an ISO certified laboratory and as part of the SGS group of laboratories is widely recognized as an expert in geochemical analysis and assaying.

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.

Conclusions

"The team is now eagerly awaiting results from the chemical and metallurgical tests. The combination of positive results from these tests with the information already available on the extent of the mineralized package will confirm that we have discovered a package of significant volume and grade that could be further expanded by way of drilling and could be exploited economically," commented Dr. Campos, Eagle Stars' COO, Director and expert on phosphate.

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.

Contact:

Eagle Star Minerals Corp.
Patrick Brandreth
Senior Manager, Corporate Development
1-604-282-7157
patrick@eaglestarminerals.com
www.eaglestarminerals.com

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