Star Minerals Group Ltd. ("Star" or the "Company") (CSE:SUV) is pleased to
announce the Company has signed a Memorandum of Understanding ("MOU") with a
private group ("Lessor") to lease certain mineral claims and assume management
of the Casey-Snyder placer gold operation near Drummond, Montana.


Under the terms of the MOU, Star will form a US subsidiary company ("Star US")
that, upon completion of certain due diligence related to title and permitting,
and the execution of a definitive agreement, will:




--  Lease the Casey-Snyder mineral claims for a period of 10 years, or as
    long as commercial production is maintained. 
--  Pay the Lessor a 15% royalty on all gold produced from the Casey-Snyder
    operation with a minimum royalty payable of US$50,000. The royalty can
    be paid in cash or gold, at the Lessor's option. Star US will advance
    US$25,000 of the initial royalty payment on signing the lease agreement.
--  Lease additional mineral claims in the vicinity of the Casey-Snyder
    property for US$10,000 per annum, with lease payments escalating
    annually at a mutually agreed upon rate, until gold production is
    achieved on the claims, after which payment will revert to the same 15%
    royalty arrangement applicable to the Casey-Snyder property. 
--  Rent suitable existing operating equipment from the Lessor. 
--  Provide sufficient start-up working capital to recommence operations.



It is expected that the remaining due diligence will be completed shortly and a
definitive agreement signed in the next few weeks. 


The Casey-Snyder property is situated in an historic gold mining area. Since the
1890s, both hard rock and placer gold mining operations have existed in the
immediate area of the Casey-Snyder claims, and since the 1980s, small-scale
placer gold mining has taken place on the Casey-Snyder claims. Star management
feels that there is excellent potential to upgrade the current operations to the
point where they can generate significant cash flow for the Company. The
property also offers excellent exploration potential to locate an in situ source
of the gold. 


Jim Engdahl states, "Star's core focus of strategic metals is strengthened
through the acquisition of the Casey-Snyder placer gold operation. The operation
is a strategic asset which is intended to produce short and long term cash flow
to the company to further its core exploration assets. This will enable further
progress on acquiring a diversified strategic metals portfolio while increasing
shareholder value in a continuing volatile market environment. Further, Star is
pleased to have secured experienced, dedicated personnel in Montana to ensure
short and long term maximization of the cash flow potential of this low capital
cost asset."


About Star Minerals Group Ltd.

Star is a Saskatoon-based, diversified exploration stage company, with a primary
focus on strategic technology metals, and its advanced joint venture rare earth
project Hoidas Lake. To advance exploration, the Company has leveraged the
strength and experience of its management, board of directors and advisors to
identify and acquire strategic investments that have the capability to generate
cash flow with low capital expenditure costs. 


The Company entered into a joint venture in an advanced rare earth project in
Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration
property in the Seabee gold mining district, diamond properties in the Fort a la
Corne region as well as base metal and uranium properties.


STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".

For more information, please visit our website at www.starminerals.ca.

Forward-Looking Statements

This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements. Such forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond Star's control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations,
competition from other industry participants, stock market volatility and the
ability to access sufficient capital from internal and external sources.
Although Star believes that the expectations in its forward-looking statements
are reasonable, they are based on factors and assumptions concerning future
events which may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such statements are subject to known and
unknown risks, uncertainties and other factors that could influence actual
results or events and cause actual results or events to differ materially from
those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. Other factors that could materially affect such
forward-looking statements are described in the risk factors in the most recent
management's discussion and analysis that is available on the Company's profile
on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of
factors is not exhaustive. The forward-looking statements contained in this
document are made as of the date of this document and, except as required by
applicable law, Star does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise. This cautionary statement expressly
qualifies the forward-looking statements contained in this document.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042 (FAX)
info@starminerals.ca
www.starminerals.ca

Navis Resources (CSE:SUV)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Navis Resources Charts.
Navis Resources (CSE:SUV)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Navis Resources Charts.