Gold Star Receives Permits for Coronation Sulphur Project
August 27 2008 - 11:17AM
Marketwired
Gold Star Resources Corp. (the "Company") (TSX-V: GXX) is pleased
to announce that it has received Metallic and Industrial Mineral
Permits numbered 9308080562 through 9308080564 from the government
of Alberta, Energy Mineral Development and Strategic Resource
Division. These permits allow the company to proceed with the
necessary steps towards exploration and development of the recently
acquired Coronation Sulphur Project. The cumulative area under
permit consists of approximately 60,000 hectares located
approximately 120 kms south of Edmonton, Alberta.
Updating the Company's July 17, 2008 news release, the company
has received an update from Agapito Associates Inc. of Colorado,
who advise that the preparation of the National Instrument 43-101
compliant technical report on the Coronation Sulphur Project is
near completion.
Sulphur, an essential element, is primarily used to produce
sulphuric acid. It is also an essential element used in the
production of many basic global products including Diammonium
Phosphate or DAP, a common fertilizer. As the demand for food
production increases to meet the needs of growing economies in
heavily populated portions of the world, in particular Asia, the
use of fertilizers to strengthen plant growth and increase crop
production is also growing. With the increased demand for
fertilizer and components necessary for the production of
fertilizer, Sulphur, long relegated to by-product status, is now
gaining attention to meet today's increased demand. Following other
agricultural product demands world wide, Sulphur has seen dramatic
increases in both demand and pricing, having risen from $50 per
tonne to $650 per tonne in the past 15 months.
The Company is a mineral exploration company based in Vancouver,
British Columbia.
On Behalf of the Board,
"Patrick Morris"
Patrick Morris, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary note: This report contains forward-looking
statements, particularly those regarding cash flow, capital
expenditures and investment plans. Resource estimates, unless
specifically noted, are considered speculative. The company has not
filed a National Instrument 43-101 report on any property, but will
do so as soon as the information is available. Any and all other
resource or reserve estimates are historical in nature, and should
not be relied upon. By their nature, forward-looking statements
involve risk and uncertainties because they relate to events and
depend on factors that will or may occur in the future. Actual
results may vary depending upon exploration activities, industry
production, commodity demand and pricing, currency exchange rates,
and, but not limited to, general economic factors. Cautionary Note
to US investors: The U.S. Securities and Exchange Commission
specifically prohibits the use of certain terms, such as "reserves"
unless such figures are based upon actual production or formation
tests and can be shown to be economically and legally producible
under existing economic and operating conditions.
For further information, contact: Patrick Morris President and
CEO of the Company Telephone: (604) 641-4450 Facsimile: (604)
669-9335
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