Lone Star Gold, Inc. Provides Projects and Operational Update on Gold-Silver Projects

ALBUQUERQUE, NM--(Marketwire - Nov 23, 2011) - Lone Star Gold, Inc. (OTCBB: LSTG) ("Lone Star" or "the Company") is pleased to provide an update on the Company's two Mexico-based gold-silver projects and related ongoing due diligence activities. The update highlights associated developments, timeframes and costs.

LA CANDELARIA PROJECT

Current Shallow Drill operations have begun on the La Candelaria project. The Company's drill program plans on acquiring samples from up to 15 target areas. Toward that end, on-site ground crews have been constructing a new prepping area and have been working on developing better access roads to facilitate the drilling program. The 10-15 drill targets are targeted to reach a depth of 200 meters (~650 feet). The drill core samples will then be sent for lab analysis. Lone Star expects to incur some extra costs related to the drilling in terms of labor, fuel, transport, laboratory analysis, rentals, compressors and miscellaneous equipment. The Company has budgeted accordingly for these expenses, which will specifically include renting or purchasing a triple-axle trailer and acquiring two further trucks over the next week to transport needed equipment to the La Candelaria property.

Initial laboratory analysis results from the drill samples are expected back from the ALS Chemex Laboratory in Vancouver, B.C., Canada, in mid to late December 2011.

Operational activities in January 2011 will include the commencement of 3-5 Deep Hole targets (600-700 meters; ~1970-2300 feet) to be drilled on the La Candelaria property. The drill targets will be confirmed once the Shallow Drilling results are fully analyzed. The Company is currently acquiring quotes for the costs associated with the drilling, and interviewing suitable drilling teams.

On January 11, 2012, Lone Star is due to make its next Work Commitment payment of $150,000, with a further property payment of $125,000 also due on the same date as described in the signed La Candelaria Definitive Agreement.

OCAMPO PROJECT (Within LOI Period)

The Ocampo Property due diligence period continues. Previously announced positive results from the on-site team have been accentuated by further field work completed to date, which has vastly increased the Company's geo-chemical and geo-physical knowledge of the entire project. Currently, the process of selecting drilling targets has begun.

All samples acquired are being securely transported through Lone Star's satellite office in the city of Chihuahua to the ALS Chemex Laboratory in Vancouver, B.C., Canada. Over the next few weeks, data from the team's field work will continue to be analyzed, studied and mapped. Included among the results will be the analysis of quartz samples from the property's southeast zone, which is expected to provide insight on the best initial drilling targets.

"All projects are moving forward quickly and are looking promising," commented Daniel Ferris, Lone Star Gold's President. "While we're looking forward to receiving the ALS Chemex results on both projects, we're particularly interested to receive the Ocampo project results since we need to make a decision as to whether or not to purchase within the next month, which could effectively expand our position in the proven Sierra Madre Occidental mining region."

ADDITIONAL INFORMATION
To learn more about the Company's projects, and regular news updates, visit Lone Star Gold's official website: http://www.lonestargold.com.

ABOUT LONE STAR: Lone Star Gold, Inc. is a publicly traded (OTCBB: LSTG) gold exploration and development company based in Albuquerque, New Mexico. The Company's aggressive acquisition and exploration approach is strategically focused on proven, stable precious metal regions in America and Mexico. Currently, Lone Star has a 70% Working Interest in concessions covering 800 hectares in the La Candelaria project in Chihuahua, Mexico, which the Company is evaluating to determine the potential sites that represent the best potential for silver and gold deposits. Lone Star also has an option to purchase a 70% interest in the Ocampo Project, a 570-hectare gold-silver project in Chihuahua State, Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS,

Lone Star Gold, Inc.
Daniel Ferris, Company President

This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Lone Star Gold, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Lone Star Gold, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Lone Star Gold, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Lone Star Gold, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml.