Urastar Drills 179.8 Metres of 0.36 Grams Gold Including 33 Metres of 0.73 Grams Gold at El Antimonio

August 23, 2012 - VANCOUVER, Canada - Urastar Gold Corp. ("Urastar" or the "Company") (TSX-V:URS) (FSE: 3U3) (OTCQX: URNRF) has obtained another significant result from RC drilling at its El Antimonio Property. To date, Urastar has completed over 9600m in 44 holes of reverse circulation (RC) drilling at El Antimonio as the major component of phase 1 exploration at El Antimonio. Several wide gold bearing intercepts have been previously announced. Recent results are summarized in the table below.

 ----------------------------------------------------------------
 |Hole    |From (m)|To (m)|Core    |Gold (g/T)|Comment          |
 |        |        |      |Interval|          |                 |
 |        |        |      |(m)     |          |                 |
 |--------------------------------------------------------------|
 |EA-12-31|?       |?     |?       |?         |no significant   |
 |        |        |      |        |          |intercepts       |
 |--------------------------------------------------------------|
 |EA-12-32|?       |?     |?       |?         |no significant   |
 |        |        |      |        |          |intercepts       |
 |--------------------------------------------------------------|
 |EA-12-33|?       |?     |?       |?         |no significant   |
 |        |        |      |        |          |intercepts       |
 |--------------------------------------------------------------|
 |EA-12-34|115.8   |118.9 |3.0     |0.20      |?                |
 |--------------------------------------------------------------|
 |EA-12-35|?       |?     |?       |?         |no significant   |
 |        |        |      |        |          |intercepts       |
 |--------------------------------------------------------------|
 |EA-12-36|105.2   |115.8 |10.7    |0.29      |?                |
 |--------------------------------------------------------------|
 |EA-12-37|24.4    |204.2 |179.8   |0.36      |hole stopped     |
 |        |        |      |        |          |in               |
 |        |        |      |        |          |mineralization   |
 |        |        |      |        |          |?                |
 |        |        |      |        |          |includes         |
 |        |        |      |        |          |170.7-204.2      |
 |        |        |      |        |          |(33.5m) @        |
 |        |        |      |        |          |0.73 g/T Au      |
 |        |        |      |        |          |containing       |
 |        |        |      |        |          |interval         |
 |        |        |      |        |          |181.4-182.9(1.5m)|
 |        |        |      |        |          |@                |
 |        |        |      |        |          |11.97 g/T Au     |
 |        |        |      |        |          |which is         |
 |        |        |      |        |          |the              |
 |        |        |      |        |          |average of       |
 |        |        |      |        |          |duplicate        |
 |        |        |      |        |          |assays           |
 ----------------------------------------------------------------

Company President Adrian Robertson, P. Eng., comments "Hole 37 expands both the lateral and vertical extent of what we are calling the Border Zone - previously known as Zone 1. The presence of high grade intervals in Hole 37 also suggests that we may be zeroing in on a higher grade feeder system for the extensive mineralization we're seeing at El Antimonio. Overall we're very pleased with this hole and are looking forward announcing the balance of our phase 1 program over the next several weeks."


Note: The above results are based on drill cutting samples that were submitted to ALS Minerals in Hermosillo for preparation. Sample analysis was done at ALS Minerals in North Vancouver, Canada for gold by the Fire Assay method on 30 gram subsamples with AAS finish. ALS is an independent ISO certified commercial laboratory. Quality control included monitoring results of certified reference standards, duplicates and blank samples submitted with the samples. Intervals are measured down the hole and may not represent true thickness.


Dr. Matt Ball, P.Geo., is the Qualified Person pursuant to National Instrument 43-101 who has reviewed the technical information contained in this news release.



Contacts:

Urastar Gold Corp.
Adrian Robertson, President & CEO
Tel: 604-682-2928

Launch IR
Matthew Harrington, Investor Relations
ir@urastarenergy.com
Tel: 613-882-7467



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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.

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