Robert Andjelic - $300k BuyerFirst Star two-million-share private placement
2011-06-21 16:39 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to the second and final tranche of a non-brokered private placement announced March 25, 2011, and revised May 12, 2011.
Number of shares: Two million shares
Purchase price: 15 cents per share
Warrants: Two million share purchase warrants to purchase two million shares
Warrant exercise price: 20 cents for a two-year period
Insider: Robert Andjelic, two million
---------------------------------------------------------------------------------------
First Star to drill 5,000 m at LMS, grants options
2011-06-02 09:11 ET - News Release
Mr. John Campbell reports
5000 M DRILLING PROGRAM HAS NOW COMMENCED ON FIRST STAR'S LMS PROJECT LOCATED IN THE HEART OF THE TINTINA GOLD BELT
First Star Resources Inc. has started its 2011 summer exploration drilling program on its flagship property, LMS, in Alaska this week. The LMS property is under joint venture with Corvus Gold Inc., a spinoff from International Tower Hill. During the next few months, First Star intends to drill 5,000 metres plus of oriented diamond core on its LMS property. Drilling will continue to assess the existing Camp zone in an effort to: 1) expand the gold-bearing graphitic quartzite breccias; and 2) to drill a northeast-striking structural corridor within the lower gneiss zone that is known to contain high-grade gold mineralization.
It is the company's intension to extend the existing mineralization of roughly 500 metres down dip to 1,000 metres down dip. Further, the company intends to have a new resource estimate completed by the end of 2011 which will also include silver.
First Star Resources completed a 640-metre winter drilling program in April this year. Assays are still pending and will be announced soon.
First Star Resources has contracted Spring Valley Drilling Inc. for its winter and summer core drilling program on its LMS gold and silver property. All exploration work on the LMS property will be conducted by First Star's exploration contractor Pacific Rim Geological Consulting Inc. of Fairbanks, Alaska, under the supervision of Dr. Karsten Eden, vice-president of exploration of First Star Resources. All sample shipments will be sent to ALS Chemex in Fairbanks, Alaska, for preparation and then on to ALS Chemex in Reno, Nev., or Vancouver, B.C., for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. First Star will have its own quality control/quality assurance programs in place.
The LMS claim block is located in the Goodpaster mining district of Alaska and consists of 92 Alaska mining claims covering 61 square kilometres.
The company also is granting options to buy 650,000 shares total to consultants of the company. The options shall be exercisable at a price of 15 cents per share and shall have a term of five years.
We seek Safe Harbor.