Coeur d’Alene, Idaho – February 21, 2012 – Star Gold Corp. (“Star Gold” or the “Company”) (OTC Markets:SRGZD) is pleased to announce results of additional drilling at its Longstreet property. Longstreet is located twenty five (25) miles southeast of the Round Mountain mine in south-central Nevada.

Results of the sixteen (16) hole program at the Main structure show new intercepts at depth in the central portion of the deposit. With true thicknesses of 65 to 120 feet these intercepts have potential to significantly expand the resource at Main (185,000 ounces of gold equivalent announced in June 2011). Drilling results are shown in the table below and a detailed plan map of drill hole locations and proposed holes can be found on the Star Gold website at:

Drill Results

Highlights of the 16 holes included:

• 8 holes exhibited +100 feet thicknesses of +0.01 oz/ton gold equivalent.
• 4 holes exhibited +200 feet thicknesses of +0.01 oz/ton gold equivalent.
• Drill hole LS-1101 exhibited 305 feet of +0.01 oz/ton gold equivalent.

The new intercepts at depth are largely responsible for this increase in mineralization thickness. Drill holes LS-1101, 1102, 1103, 1104, 1107 and 1113 all have new intercepts at depth (see plan and table). Initial interpretation is that these deeper intercepts are related to a structure that parallels the Adit Fault (see plan map), the largest mineralized structure recognized at Main.

Also of interest is drill hole LS-1115, which intersected 5 feet 0.134 oz/ton gold and 8.06 oz/ton silver down dip on the Adit Fault. This hole is part of a 60 foot thick intercept averaging 0.038 oz/ton gold equivalent. This high grade may indicate further down dip potential at underground mining grades.

Star Gold CEO Lindsay Gorrill commented on the new results stating:

"The previous owners of the Longstreet property in 1988 were preparing to build a leach pad based on drilling to a depth of only 160ft. This was at a gold price of around $350 oz. These recent drilI results provides more evidence that mineralization continues past 300ft. Most encouraging was that some of the best grades were found at the greater depth."

Star Gold Corp anticipates a new technical report based on these results to be produced by March 2012.

Star Gold also has closed on the first tranche of a private placement of its debentures and warrants. The first tranche consisted of issuing $900,000 in convertible debentures and warrants. The drilling program discussed above was made possible due to the proceeds from this tranche of the Placement. For more information on the Placement please review the Company’s report on Form 8-K filed on February 17, 2012. The report is available for review at www.sec.gov.

Background to Longstreet Project

Star Gold believes the Longstreet project is associated with a paleo-hot springs system in a caldera associated volcanic setting very similar to the Round Mountain mine. Round Mountain is an open pit, heap-leach mine where Barrick (ABX) and Kinross (KGC) produced over 10 million ounces of gold over a thirty year period with the average grade currently being mined of 0.018 oz/ton gold. Cut-off grades for Round Mountain and several other oxide ore heap leach operations in Nevada range from 0.003 to 0.005 oz/ton gold. Star Gold hopes to develop an open pit, bulk minable, heap leachable gold/silver mine at Longstreet

Summary Drill Results Longstreet Project, Main Target (= 5 feet @ = 0.01 oz/ton gold equivalent) 02/12

To view the Summary Drill Results, click onto the link below:

Drill Results Longstreet

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About Star Gold Corp.

Star Gold Corp. is a gold exploration company with the purpose of acquiring, evaluating and developing gold projects of merit with a focus on the United States, Canada and Mexico. At present, Star Gold is focused on the exploration and development of its Excalibur Project and Longstreet Project, in Nevada, USA. For more information please visit www.stargoldcorp.com.