Estrella Announces Appointment of Interim CEO and VP Exploration

- Mark T. Brown, B. Comm, CA, appointed interim CEO

- Keith Laskowski to take on new role with World Bank

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/03/12 -- Estrella Gold Corporation (TSX VENTURE: EST) ("Estrella" or the "Company") is pleased to announce that Mark T. Brown has been appointed Interim President and CEO. Mr. Brown was appointed a director of the Company in July 2011 and has assisted Estrella in completing the last two financings. Mr. Brown has been involved in the public company markets for the past 18 years focussing on the financing aspects of the junior resource market. He was the founder of Rare Element Resources Ltd. and has raised all of the funds for Rare Element since inception. Mr. Brown has been an officer and director of several successful companies and invests in those companies through Pacific Opportunity Capital Ltd. which also provides M&A consulting services, raises funds, and provides financial management services.

Mr. Keith Laskowski has stepped down from his positions as Director, President and CEO of the Company to accept an appointment with the International Finance Corporation, a division of the World Bank, based in Washington D.C. Estrella has benefitted greatly from Mr. Laskowski's leadership and geological talents and is pleased that Mr. Laskowski is moving into his new role which has the ability to positively affect exploration and mining worldwide.

Mr. Brown commented that "I will be holding the reins at Estrella until a suitable replacement is found. It has been great to work with Keith and Estrella has benefitted greatly in Peru from his work. While we will miss Keith at Estrella, the group is pleased that he has been offered such a prestigious role in mineral exploration."


About Estrella Gold Corporation (TSX VENTURE: EST) Exploration is risky and Estrella is seeking to increase the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, and then conducts initial, low-cost exploration to define a potential new deposit. Once defined, Estrella forms joint ventures with other companies that will provide funding and reduce Estrella's risk and expenditures. The Prospect Generator business model allows Estrella to aggressively seek the next major discovery. Estrella has twenty-three (23) active exploration properties in Peru, with fourteen (14) held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the nine properties held 100% by Estrella, the Company has six new epithermal gold targets, two early stage epithermal gold targets, and the Colpayoc gold-porphyry target which has a NI 43-101 compliant inferred gold resource containing 313,000 ounces of oxide gold (19.3 Mt @ 0.5 g/t gold, Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 31.7 million shares issued and outstanding on the TSX Venture Exchange (TSX VENTURE: EST). Mr. Keith A. Laskowski, MSc., is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has prepared, reviewed and verified the technical information contained in this news release. Further information is available at Estrella Gold's website: www.estrellagold.com.


STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.



Contacts:

Estrella Gold Corporation
Mark Brown, B Comm., CA
Direct: (604) 687-3520
(888) 889-4874 (FAX)
mtbrown@pacificopportunity.com
www.estrellagold.com