Urastar Announces Phase 1 Completed with more Intersections at El Antimonio

October 10, 2012 - VANCOUVER, Canada - Urastar Gold Corp. ("Urastar" or the "Company") (TSX-V:URS) (FSE: 3U3) (OTCQX: URNRF) is pleased to report significant intercepts obtained from the final RC drill holes of the phase 1 exploration program at its El Antimonio Property. To date, Urastar has completed 10,517m in 49 holes of reverse circulation (RC) drilling at El Antimonio. Thirty-seven of these holes intersected mineralized zones, including several wide gold bearing intercepts previously announced. Additional significant results from the last five holes are given in the table below.

 --------------------------------------------------------------------
 |Hole     |From (m)|To (m)|Core Interval|Gold (g/T)|Comment        |
 |         |        |      |(m)          |          |               |
 |------------------------------------------------------------------|
 |EA-12-45 |76.2    |86.9  |10.7         |0.72      |includes       |
 |         |        |      |             |          |77.7-79.3      |
 |         |        |      |             |          |(1.5m) @       |
 |         |        |      |             |          |1.85 g/T Au    |
 |------------------------------------------------------------------|
 |EA-12-46 |103.6   |120.4 |16.8         |1.52      |includes       |
 |         |        |      |             |          |103.6-106.7    |
 |         |        |      |             |          |(3.1m) @       |
 |         |        |      |             |          |6.36 g/T Au    |
 |------------------------------------------------------------------|
 |EA-12-47 |70.1    |123.4 |53.3         |0.13      |?              |
 |------------------------------------------------------------------|
 |EA-12-48A|70.1    |106.7 |36.6         |0.35      |includes       |
 |         |        |      |             |          |88.4-89.9      |
 |         |        |      |             |          |(1.5m) @       |
 |         |        |      |             |          |3.03 g/T Au    |
 |------------------------------------------------------------------|
 |EA-12-48A|141.7   |149.4 |7.6          |0.19      |?              |
 |------------------------------------------------------------------|
 |EA-12-49 |39.6    |45.7  |6.1          |0.42      |?              |
 |------------------------------------------------------------------|
 |EA-12-49 |59.4    |62.5  |3.0          |0.23      |?              |
 |------------------------------------------------------------------|
 |EA-12-49 |80.8    |93.0  |12.2         |1.33      |includes       |
 |         |        |      |             |          |83.8-85.3      |
 |         |        |      |             |          |(1.5m) @       |
 |         |        |      |             |          |5.21 g/T Au    |
 |------------------------------------------------------------------|
 |EA-12-49 |125.0   |140.2 |15.2         |0.73      |includes       |
 |         |        |      |             |          |126.5-128.0    |
 |         |        |      |             |          |(1.5m) @       |
 |         |        |      |             |          |3.61 g/T Au    |
 |------------------------------------------------------------------|
 |EA-12-49 |160.0   |195.1 |35.1         |0.30      |hole stopped in|
 |         |        |      |             |          |mineralization |
 --------------------------------------------------------------------

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, B.C., 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.


Urastar CEO, Adrian Robertson, P.Eng., comments: "These results cap off a very successful phase 1 drill campaign and add to the significance of the property and its high potential for a large, bulk tonnage gold deposit. Planning is underway for an aggressive exploration program at El Antimonio in 2013. The focus of next year's work will be to expand on the success we had in the border zone and dead man zone and also to drill several high potential targets we weren't able to test as part of this year's program."

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:

Adrian Robertson, President & CEO
Tel: 604-682-2928

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



THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGENOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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.

United States residents are cautioned that some of the information that may be published by Urastar may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.