URS Urastar Gold Corp

Urastar Energy Inc. ("Urastar") (TSX VENTURE:URS) announces the option to
acquire the Jabali Gold Mine Project in Mexico. Jabali is a major gold
exploration property, consisting of 70 hectares located in east Sonora in the
Sierra Madre Gold Belt.


The property is located only 6 km from the Mulatos Gold and Silver producing
heap leach mines (see location map at www.Urastarenergy.com) currently owned and
operated by Alamos Gold (TSX:AGI). Jabali has produced gold from small scale
operation since first being discovered by Jesuit priests in 1635. Recent surface
chip sampling in the area of the old workings by geologist Dr Matt Ball are
currently being analyzed. An exploratory work program is currently being
prepared.


In a signed Letter of Intent, Urastar can earn a 100% interest in the Jabali
Gold Project by making the following option payments over a 5 year period:




-------------------------------------------------------
                  TIME                   CASH PAYMENT  
-------------------------------------------------------
On signing                              US$10,000.00   
On approval of TSX-Venture Exchange     US$40,000.00   
-------------------------------------------------------
Twelve month anniversary                US$75,000.00   
-------------------------------------------------------
Twenty-four month anniversary           US$75,000.00   
-------------------------------------------------------
Thirty-Six month anniversary            US$150,000.00  
-------------------------------------------------------
Forty-Eight month anniversary           US$200,000.00  
-------------------------------------------------------
Sixty month anniversary                 US$1,450,000.00
-------------------------------------------------------
TOTAL                                   US$2,000,000.00
-------------------------------------------------------



In addition, underlying owners will retain a 3% NSR royalty on the Property
subject to the right of Urastar to purchase each 1% of the NSR (namely a 1% NSR)
for $1,000,000.00 for five (5) years after signing. The Letter of Intent is
subject to TSX Venture Exchange approval.


Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., is a designated Qualified Person
pursuant to National Instrument 43-101 and prepared the technical information
contained in this news release. 


About Urastar Energy Inc.

Urastar Energy Inc. is a mining exploration and development company focusing on
gold exploration in Mexico's Sierra Madre gold belt targeting areas containing
former producing properties. The Sierra Madre Gold Belt is one of the richest
gold belts in the world hosting several world class mines and many major recent
discoveries. For more information, please visit www.Urastarenergy.com 


THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR
ITS CONTENTS. THE TSX-VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE. 


This news release includes certain statements that express management's
expectation or estimates of future performance and may be deemed
"forward-looking statements". These forward-looking statements include plans,
estimates, forecasts and statements as to management's expectations regarding
exploration. These forward-looking statements involve assumptions, risks and
uncertainties and actual results may vary materially. For these reasons
shareholders should not place undue reliance on such forward-looking
information.


United States residents are cautioned that some of the information that may be
published by Urastar may not be consistent with United States Securities and
Exchange Commission disclosure rules and may be materially different from what
the Company is permitted to disclose in the United States and therefore United
States residents should not rely on such information.

Urastar Gold Corp (TSXV:URS)
Historical Stock Chart
From May 2024 to Jun 2024

Urastar Gold Corp (TSXV:URS)
Historical Stock Chart
From Jun 2023 to Jun 2024