Eagle Star Minerals Corp. Closes Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2011) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINK SHEETS:ELGSF)(FRANKFURT:E6R) ("Eagle Star" or "the Company") has received approval from the TSX Venture Exchange for closing of its previously announced, oversubscribed non-brokered private placement as per the company's press releases dated June 16 2011, July 15, 2011 and July 29, 2011. The Company received $3,061,819 million dollars and will issue 13,917,360 units. Each unit was priced at $0.22 per unit and consists of one share and a half share purchase warrant, exercisable at a price of $0.32 per share for a period of two years from closing.

There is a statutory hold period of four months plus one day, expiring December 10, 2011, on all shares and warrants issued pursuant to this private placement.

The company will pay finders' fees of $237,001.60 and will issue 1,077,280 broker warrants, each broker warrant entitling the holder to acquire one common share of the company at $0.32 per share for a period of two years from closing, in conjunction with the closing of this financing.

"We are extremely pleased about reaching yet another milestone," commented Eran Friedlander, President and CEO of Eagle Star. "The proceeds of the current financing will allow the company and its extremely capable local team to continue carrying out our strategy of building a strong mining company with a diversified portfolio of high quality mineral assets having a focus on Brazil."

About the Company

Eagle Star Minerals Corp. is a Natural Resource company headquartered in Vancouver, British Columbia, focused on the acquisition, exploration and development of agromineral and base metal properties in North and South America. The Company's shares are publicly traded on the TSXv under the symbol EGE, on the OTC Pink Sheets under symbol EGLSF and on Frankfurt Stock Exchange under the symbol E6R.

On behalf of the Board of Directors

EAGLE STAR MINERALS CORP.

Eran Friedlander, President

For more information email: info@eaglestarminerals.com.

This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.