EST

Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company")
reports that it is moving ahead with project exploration and the search for new
projects. Estrella has also implemented an ongoing program of operating cost
reductions through reductions in administration costs and property holding
costs. The Company is now looking forward to focusing on moving its projects
ahead which are under option or joint venture agreements (4 properties) and
acquiring new projects to advance and option out to third parties for
exploration.


Estrellla's team in Peru, led by Mr. John Wilson, President and CEO, has
recently met with our JV partners - Cliffs Natural Resources Exploration Inc.
(Yanac Project), Mines Management, Inc. (La Estrella Project) and Lara
Exploration Ltd. (Isy Project). Mr. Wilson has been in contact with partner
Esperanza Resources Corporation (Pucarana Project). 




--  Exploration work is planned for the Yanac Project and will be funded by
    Cliffs. Further updates will be provided in the coming months as
    exploration progresses. Cliffs and the Company formed a 50-50 JV in
    February 2013 and Cliffs must spend a firm commitment of US$500,000 in
    year one on exploration or pay the same amount to the Company, with an
    additional work or payment amount of US$250,000 required to maintain
    Cliffs' interest beyond year one.

--  The La Estrella Project funded by Mines Management will continue
    exploration for a second year. Mines Management is currently awaiting
    permits to accommodate an expanded area for drilling. The year 2
    expenditure requirement is US$500,000 as part of a total of US$5 million
    to be spent on exploration and US$600,000 in cash payments to be made,
    along with the preparation of a preliminary economic assessment on a
    defined resource, to earn a 75% interest in the project by March 4,
    2016. Per the agreement, Estrella's 25% interest is carried to
    production with proportionate costs paid back to Mines Management from
    production profits.

--  Estrella's Isy project makes up a part of the Sami Project owned by Lara
    Exploration. Lara Exploration has an option to purchase the Isy claims
    from Estrella by paying US$80,000 (paid) and US$175,000 over the next
    two years, and issuing 50,000 shares to Estrella. Estrella will also
    receive a 1.5% NSR on the project. 

--  Esperanza's (60%) Joint Venture with Estrella (40%) on the Pucarana
    Project is approximately 7 kilometers from Buenaventura's high-grade
    underground Chipmo Mine and 15 km from the Poracota mine which has
    become one of the largest gold producers in South America. Estrella is
    currently in the process of finalizing a 60-40 joint venture agreement
    with Esperanza on the Pucarana project.



The geological team in Peru is also active in looking for new projects to
acquire as companies drop projects due to lack of financing and good properties
become less expensive to acquire.


Further updates on the exploration programs and results, property acquisitions
and dispositions, and options agreements will be provided as they are completed.


After the Annual General Meeting yesterday morning, Mr. John Wilson (Geologist)
was re-appointed as the President and CEO and Ms. Winnie Wong (Chartered
Accountant) was re-appointed as the Chief Financial Officer and Corporate
Secretary. The directors were appointed as expected with Mr. Greg Harris,
Chairman, (Lawyer), Mr. Don Taylor (Geologist), Mr. Mark Brown (Financier), and
Mr. Fernando Pickmann (Peruvian Lawyer) being re-appointed and Mr. Wilson be
appointed as a new director. 


The shareholders also approved changing the Company's 20% fixed stock option
plan to a 10% rolling stock option plan which limits and reduces the number of
stock options to 10% of the outstanding common shares from the old 20% amount.


The Board of Directors also approved the grant of 1,455,000 stock options to
directors, officers, employees and consultants of the Company which allow the
holders the right to purchase a common share of the Company at a price of $0.08
per share no later than May 29, 2017 or for 4 years from the date of the grant.


About Estrella Gold Corporation (TSX VENTURE:EST) - Mineral exploration is
inherently risky and Estrella increases the chances of success as a "Prospect
Generator" focused on gold exploration in Latin America. Estrella identifies and
acquires new mineral properties, conducts initial, low-cost exploration to
define a potential new deposit and then forms joint ventures with other
companies that will provide funding for more advanced exploration. Estrella has
several active exploration properties in Peru, with four held in venture
agreements. The Company has 31.6 million shares issued and outstanding, and is
listed on the TSX Venture Exchange (TSX VENTURE:EST). 


To learn more visit: 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Estrella Gold Corporation
John R. Wilson
President and CEO
(604) 687-3520


Estrella Gold Corporation
Sandrine Lam
Shareholder Communications
(604) 687-3520
(888) 889-4874 (FAX)
www.estrellagold.com

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