Under the terms of the Agreement, each Urastar shareholder will receive in exchange for each Urastar Share held, C$0.25 in cash.  The cash consideration offered represents a premium of approximately 42.9% based on the closing price of the Urastar Shares on the TSX Venture Exchange (“TSXV”) of C$0.175 on March 25, 2013 and a premium of approximately 46.8% over the 20-day volume weighted average price of the Urastar Shares on the TSXV for the period ending March 25, 2013. The transaction value on a basic shares outstanding basis, and assuming exercise of in-the-money share purchase warrants, is approximately C$10.70 million. Out-of-the-money share purchase warrants and options will be cancelled as part of the transaction. Agnico-Eagle has agreed to advance approximately C$1.6 million to the Company on closing to fund the payment of the Company’s transaction expenses and severance costs.

The board of directors of Urastar has unanimously approved the transaction and each of the directors and officers of Urastar, as well as certain other Urastar securityholders, collectively holding approximately 27.12% of the number of Urastar securities entitled to vote at the Meeting (as defined below), have entered into support agreements with Agnico-Eagle and agreed to vote their securities in favour of the Arrangement.

Adrian Robertson, Urastar’s Chief Executive Officer, remarked, “The proposed acquisition of Urastar by Agnico-Eagle represents the culmination of several years of work by the Urastar team and highlights the attractive and strategic nature of our projects.”

Transaction Details

Completion of the Arrangement is subject to certain customary conditions, including receipt of all necessary court, securityholder and stock exchange approvals. The Agreement also provides for, among other things, customary non-solicitation covenants, a “right to match” in favour of Agnico-Eagle in the event of a superior proposal and in certain circumstances the payment by Urastar to Agnico-Eagle of a C$850,000 termination payment should the Agreement be terminated.

The execution of the Agreement clears the way for Urastar securityholders to vote on and approve the Arrangement at a special meeting of securityholders (the “Meeting”) to be held in May, 2013, with the closing of the Arrangement occurring shortly thereafter.  The Arrangement must be approved by at least 66⅔% of the votes cast by the securityholders, present in person or represented by proxy at the Meeting, voting together as a single class.

The board of directors of Urastar unanimously determined the Arrangement is fair to Urastar’s securityholders and in the best interests of the Company and recommends that Urastar securityholders vote in favour of the Arrangement.

Advisors

Urastar’s financial advisor for the Arrangement is Cowen Securities LLC (formerly, Dahlman Rose & Company, LLC) and its legal advisor is Gowling Lafleur Henderson LLP. Cowen Securities LLC has delivered a fairness opinion that the consideration to be received by Urastar shareholders is fair from a financial point of view.

About Urastar

Urastar is junior mining company that has been exploring former gold producing areas in the state of Sonora, Mexico.

For further Information, contact:

URASTAR GOLD CORP.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Urastar expects to occur, are “forward-looking statements”. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While the Company has based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. The Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information.

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.”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.

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.

 -------------------------------------------------------------------
 |Hole    |From (m)|To (m)|Core Interval|Gold (g/T)|Comment        |
 |        |        |      |(m)          |          |               |
 |-----------------------------------------------------------------|
 |EA-12-38|51.8    |71.6  |19.8         |0.92      |includes       |
 |        |        |      |             |          |56.4-59.4      |
 |        |        |      |             |          |(6.0m) @       |
 |        |        |      |             |          |3.19 g/T Au    |
 |-----------------------------------------------------------------|
 |EA-12-39|96.0    |125.0 |29.0         |0.30      |includes       |
 |        |        |      |             |          |120.4-121.9    |
 |        |        |      |             |          |(1.5m) @       |
 |        |        |      |             |          |1.54 g/T Au    |
 |-----------------------------------------------------------------|
 |EA-12-43|24.4    |41.1  |16.8         |0.38      |               |
 |-----------------------------------------------------------------|
 |EA-12-43|67.1    |128.0 |61.0         |0.22      |includes       |
 |        |        |      |             |          |94.5-106.7     |
 |        |        |      |             |          |(12.2m) @      |
 |        |        |      |             |          |0.44 g/T Au    |
 |-----------------------------------------------------------------|
 |EA-12-43|176.8   |196.6 |19.8         |0.19      |               |
 |-----------------------------------------------------------------|
 |EA-12-43|225.6   |251.5 |25.9         |0.25      |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, 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.

Together with the previously announced intercepts, these results show that the gold mineralization is widespread, and that there is excellent potential for a large, bulk tonnage gold deposit. Assay results from the remaining five RC holes and three core holes will be released as they become available.

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.

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:

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.

There can be no assurance that any specific transaction regarding the Company or its assets will be pursued or completed.  The Company does not intend to disclose developments with respect to the progress of its strategic alternative review process until such time as the Board of Directors approves or completes a transaction(s) or otherwise deems further disclosure appropriate.

About Urastar Gold Corp.

Urastar Gold Corp is a mining exploration and development company focusing on gold exploration inSonora,MexicoandNevada,USAtargeting areas containing former producing properties.

For further information, please contact:

Contacts:

Adrian Robertson, President & CEO
Tel: 604-682-2928
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 EXCHANGE NOR 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 Statesresidents 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 theUnited Statesand thereforeUnited Statesresidents should not rely on such information.

Urastar President Adrian Robertson, P.Eng., comments “We’re extremely pleased with the results of the phase 1 exploration at El Antimonio this year. Taken in the context of the low cutoff grades of the producing mines in the area – in the neighborhood of 0.15g/t gold, and the fact there was virtually no prior exploration on Urastar’s claims at El Antimonio, the program has been a great success. We plan on using the remaining 2000 metres budgeted for phase 1 exploration to revisit the areas of the deposit that have returned the best results. That gives us an excellent chance for further success with the drill bit as well as the opportunity to expand on the known mineralization in those zones, which is currently open in all directions and at depth.”

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 inNorth Vancouver,Canadafor 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:

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 EXCHANGE NOR 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.

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.

Company President, Adrian Robertson, P.Eng., comments “We’re very happy with the progress we’ve been able to make at all of our Mexican properties this year. In particular, what we are looking for at El Antimonio is a large, oxidized, low grade gold deposit which would be amenable to open pit heap leach extraction. Although we won’t be in a position to announce a resource estimate at El Antimonio until we are able to complete another extensive round of drilling, the results of our program so far have identified several targets of wide low grade gold mineralization. The results we have generated at El Antimonio are very encouraging when viewed in the context of the reserves at several of the large scale, open pit gold mines located in the Mojave-Sonora region, such as New Gold’s Mesquite and Fresnillo’s La Herradura and Noche Buena mines,. The reason for initiating the 1500m core drilling program at this time is to delineate the mineralogy and structural controls of what appears to be repeatedly altered and mineralized gold bearing material at El Antimonio. The RC program is limited in terms of drilling depth and the amount of geological information it can provide. The core holes will give the information needed to plan a phase 2 drilling program which, ideally, we would like to start on in spring of 2013. Our current cash position of approximately $1.5m gives us enough to complete the RC and core programs we have scheduled for this year at El Antimonio, and possibly go back to the El Jabali and La Juliana properties to do a bit more drilling there”.

Dr. Matt Ball, P.Geo., is a 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 EXCHANGE NOR 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.

Investors can participate in the call from:

Canada and the USA by dialing 1-866-782-8903; you will be greeted and placed into the UraStar Gold Investor Call by an operator.

European investors may dial 647-426-1845 to participate in the call.

Momentum Conferencing Corporation will be servicing the call.

For any individuals that are unable to participate on the call, a replay of the investor call can be accessed by dialing the following replay numbers:

Local Dial-In Number:  416-915-1035
Toll-Free Dial-In Number:  1-866-245-6755
Passcode:  263459
For further information see www.urastargold.com or contact:

Urastar Gold Corp.
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 EXCHANGE NOR 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.

The Company is carrying out an extensive Reverse Circulation (RC) drilling program El Antimonio and so far 6,036 metres have been drilled in 28 holes.  The most significant intersections previously released include 67 metres grading 0.54 grams per tonne gold in hole EA-12-21 and 29 metres grading 0.79 g/t gold in hole EA-12-17 (See news releases dated 6^th and 15^th of June 2012).  Drilling is continuing with recently received significant intercepts as follows:

The large intercepts in holes EA-12-22A and EA-12-23 rank as high in importance as those obtained in holes 17 and 29.  The Company considers these results highly significant and indicative of excellent potential for a bulk tonnage gold deposit.

Drill cutting samples 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 a 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 EXCHANGE NOR 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.

Urastar is currently carrying out an extensive RC drilling program on the El Antimonio property and so far 27 holes have been completed.  Significant intersections previously released included 29 metres grading 0.79 grams per tonne gold in hole EA-12-17 (See news release dated 6 June 2012).  Recently received significant intercepts include the following:

The Company considers these results highly significant and indicative of potential for a bulk tonnage gold deposit.

Drill cutting samples 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 a 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 EXCHANGE NOR 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.