08:02 EDT Wednesday, July 22, 2009

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) - Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to announce the signing of a letter agreement with Fronteer Development Group Ltd. (Fronteer). Under the terms of the agreement Fronteer can earn a 70% interest in the Richmond Summit project in Nevada currently held 100% by Redstar.

Scott Weekes, President of Redstar stated: "Redstar is pleased to have Fronteer as a partner on our Richmond Summit project in Nevada. Fronteer is very active in Nevada, well financed and an aggressive explorer with a strong technical team. Richmond Summit is a high-quality project in the middle of one of the most productive gold camps in the world. This agreement with Fronteer will give the Richmond Summit project the exploration it deserves."

The Richmond Summit project covers 2 square miles within the central Carlin trend, 4 miles northwest of the Mike copper-gold deposit within the Gold Quarry (Maggie Creek) district and 5 miles south of the Carlin gold mine, both operated by Newmont Mining Corporation. Gold production and reserves/resources in the Maggie Creek district total at least 29 million ounces of gold, with at least 10 million ounces in the Carlin mine area (including the West Leeville and Pete deposits). The project lies on the southern extension of the Post fault, a major structural control to world-class gold deposits in the northern Carlin trend north of the project such as Post-Betze (Goldstrike) and Meikle (combined greater than 35 million oz of gold). The project contains numerous north trending dikes which follow this fault and can be traced north along the fault through the Genesis, Deep Post, Goldstrike and Meikle gold deposits. Carlin-trend gold mineralization occurred during emplacement of these dikes. At Richmond Summit, gold mineralization at the Main Zone is associated with the margins of dykes and has returned values up to 7.75 g/t gold.

Jacob Margolis, Redstar's U.S. Exploration Manager, stated: "Past drilling results are encouraging and indicate mineralization is following a significant dike-filled fault that contains strong gold-arsenic "leakage" anomalies. The dike extends to the depths tested and indicates mineralization in lower-plate carbonates could occur at greater depth. There are clear exploration targets - the intersection of altered and mineralized dikes with the underlying carbonate sequence at the Main zone and elsewhere. The carbonates, believed to be part of the lower plate, have been intersected in drilling outside of the Main zone. This deep Main-Zone target is very similar to the geology of the Meikle deposit. Given the strength of gold mineralization, the favorable geology, similarities to productive gold deposits along the Carlin trend and location along the trend, the property offers an excellent opportunity to discover significant Carlin-type gold mineralization."

Under the terms of the agreement Fronteer can earn a 70% interest in the project by completing USD $3.25 million in work expenditures and paying USD $250,000 in cash over four years. Fronteer will act as operator and will commit USD $500,000 in work expenditures in the first year.

About Redstar Gold Corp.

Redstar Gold Corp. is a Vancouver-based company focused on gold exploration in Nevada and Red Lake, Ontario. For more detailed information on Redstar's Nevada projects, as well as its gold projects in the Red Lake area, please visit the company's web site at www.redstargold.com.

On Behalf of the Board,

Redstar Gold Corp.

Doug Fulcher, Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Redstar Gold Corp. - Corporate Inquiries
Tim Mikula
Investor Relations
604-488-0051
604-488-0053 (FAX)
[email protected]
www.redstargold.com