Desert Star Options the Red Top, Copper King and Copper Springs Projects in Arizona from Eurasian Minerals

Desert Star Options the Red Top, Copper King and Copper Springs Projects in 
Arizona from Eurasian Minerals 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/04/13 -- Desert
Star Resources Ltd. (TSX VENTURE:DSR) ("Desert Star" or the
"Company") is pleased to announce that it has entered into three (3)
option purchase agreements (the "Option Purchase Agreements"), each
dated September 3, 2013 (the "Effective Date"), with Eurasian
Minerals Inc. (TSX VENTURE:EMX)(NYSE MKT:EMXX) ("Eurasian" or "EMX")
through its wholly owned subsidiary, Bronco Creek Exploration Inc.
("BCE"). Pursuant to the Option Purchase Agreements, Desert Star has
three options (the "Options") to earn 100% interests (each subject to
a 2.5% net smelter returns royalty granted to EMX upon Desert Star
completing an Option) in each of the Red Top ("Red Top Project"),
Copper King ("Copper King Project"), and Copper Springs ("Copper
Springs Project") projects (collectively, the "Projects"). 
The Projects are located in the Superior and Globe-Miami copper
districts in Pinal and Gila Counties, Arizona, United States. All
three projects are high priority targets for porphyry copper
mineralization and are road accessible year-round. 
"We are extremely pleased to be working with Eurasian Minerals on
what we consider to be three very high quality copper exploration
targets," stated Desert Star President and CEO, Vince Sorace. "The
Superior and Globe-Miami copper districts are truly world class, and
we are excited to be working in the same districts where veteran
copper miners such as BHP Billiton, Rio Tinto, Freeport McMoRan, and
KGHM International have operations." 
Red Top Project 
The Red Top Project consists of 148 unpatented federal lode mining
claims covering 1,172 hectares, located 8.5 km from the town of
Superior, Pinal County, Arizona, and is road-accessible year-round.
The Red Top Project is situated 8 km northwest (Fig. 1) of the
Resolution Copper Project, a joint venture project owned by Rio Tinto
and BHP Billiton which is one of the world's largest undeveloped
copper projects, containing 1,737 Mt @ 1.52% copper and 0.035%
molybdenum. 
The Red Top Project is prospective for bulk tonnage supergene (oxide)
and hypogene (sulphide) porphyry copper and molybdenum
mineralization. The property contains an abundance of (oxidized)
sulphides, and together with the style, size (greater than 350m of
exposed strike length) and intensity of advanced argillic
hydrothermal alteration (sericite with dickite and pyrophyllite), the
zoned copper-molybdenum footprint (based on rock chip samples;
greater than 1.5 km in length) and presence of favorable Laramide age
porphyritic intrusions suggest that the Red Top Project represents a
high level intact porphyry system. 
The Red Top Project has not been explored since the 1960s, and
therefore no modern, systematic porphyry copper exploration has been
conducted on the Project. Desert Star plans to conduct a targeted
surface geological mapping program, surface alteration mapping using
a Terraspec 4 High Resolution Spectrometer, and a deep penetrating
induced polarization ("IP") geophysical survey in advance of a
drilling campaign at the Red Top Project. 
Copper King Project 
The Copper King Project covers 1398 hectares and consists of 189
unpatented federal lode mining claims located approximately 4 km from
the world-class Resolution Copper Project (Fig. 1) and the town of
Superior. 
The Copper King Project is prospective for bulk tonnage supergene
(oxide copper) and hypogene (sulphide) copper and molybdenum
mineralization. Surface geology, copper and molybdenum metal zonation
defined by surface rock sampling as well as a very large (1 km by 1
km) alteration zone suggest the Copper King Project represents the
top and/or side of an intact porphyry system (Figs. 3A-B). Locally
intense calc-silicate alteration of moderately inclined sedimentary
wall rocks in addition to copper oxide and copper sulphide minerals
present in both wall rocks and porphyritic intrusions may represent
leakage from an intact but unexposed porphyry system (Fig. 3A). 
The only evidence of historic exploration present on the property are
drill access roads which likely provided access to the nearby Silver
King deposit (6.2 Moz Silver: short et al., 1943) in the mid-late
1970s. As with the Red Top Project, no modern systematic porphyry
copper exploration has been conducted on the Copper King Project.
Desert Star plans to conduct a targeted surface geological mapping
program, surface alteration mapping using a Terraspec 4 High
Resolution Spectrometer and a deep penetrating IP geophysical survey
in advance of a drilling campaign at Copper King. 
Copper Springs Project 
The Copper Springs Project covers 2,175 hectares and consists of 241
unpatented federal lode claims and one (1) Arizona State lease.
Certain of the surface rights overlying the mining claims are located
on private lands, while other surface rights are administered by the
National Forest Service. The project is located adjacent to US
Highway 60 in Gila County, Arizona (Fig. 1). Existing infrastructure,
including a smelter (Miami Mine - Freeport McMoRan), roads, power,
and rail are located nearby the Copper Springs Project. 
The Copper Springs Project lies within the Globe-Miami Copper
District (Fig. 1). The Globe-Miami Copper District contains a cluster
of porphyry centers that have been dismembered by Tertiary normal
faults. Dismembered ore bodies in the district include Pinto Valley
(BHP Billiton), Cactus-Carlotta (KGHM International), Copper Cities
(BHP Billiton), Miami-Inspiration (Freeport-McMoRan) and Old Dominion
(historical mine now owned by BHP Billiton) (Figs. 1 and 4). 
Geological investigations including Tertiary fault reconstruction by
the EMX technical team have provided a geological framework that has
been used to vector toward fault-bound pieces of the dismembered
porphyry copper deposits which are interpreted to lie concealed under
post-mineral cover (Fig. 4). 
The Copper Springs area has been explored by several exploration
companies prior to the late 1960s, including drill programs focused
on the Azurite prospect (Fig. 4). Between December 2009 and January
2010, two holes were drilled (CSN-5 and CSN-6) for a total of 1,189
m, centered on the northeastern portion of the claim block, both of
which failed to reach target depth. Drill hole CSN-5 was cut short
due to budget constraints and drill hole CSN-6 was abandoned due to
depth limitations of the mud rotary drill rig. Drill hole CSN-6 was
cased to 512 meters and could be re-entered using core or reverse
circulation ("RC") drilling methods. 
Desert Star plans to conduct a limited deep penetrating audio
frequency magneto-telluric (AMT) survey capable of imaging bedrock to
depths of 600 to 750 meters, which would then be used to establish
targets for a drilling program. 
Terms of the Option Agreement 
To exercise each Option, Desert Star is required to: 


 
--  Issue 350,000 common shares in the capital of DSR (1,050,000 common
    shares in the aggregate) to EMX upon the TSX Venture Exchange approving
    such share issuances; 
--  Pay to EMX the following option payments in respect of each Option: 
    --  upon the completion of 1,000 meters of drilling, $30,000; 
    --  upon completion of a preliminary economic assessment, the value
        equal to 35,000 pounds of copper, which payment is treated as an
        advance minimum royalty ("AMR"); 
    --  upon completion of a pre-feasibility study, the value equal to
        50,000 pounds of copper, which payment is treated as an AMR; 
    --  upon completion of a feasibility study, an amount equal to 0.25% of
        the value of each pound of copper up to 500 million pounds of copper
        and 0.05% of the value of each pound of copper greater than 500
        million pounds of copper included as reserves in the feasibility
        study; 
    --  upon the decision to develop a mine, the value of 175,000 pounds of
        copper, which payment is treated as an advance minimum royalty; 
    --  upon commencement of commercial mining, the value of 250,000 pounds
        of copper, which payment is treated as an advance minimum royalty. 
--  Incur exploration expenditures on each of the Projects as follows: 
    --  US$100,000 by the first anniversary of the Effective Date; 
    --  an additional US$500,000 by the second anniversary of the Effective
        Date; 
    --  an additional US$500,000 by the third anniversary of the Effective
        Date; 
    --  an additional US$750,000 by the fourth anniversary of the Effective
        Date; and 
    --  an additional US$1,000,000 by the fifth anniversary of the Effective
        Date and by each anniversary of the Effective Date thereafter until
        completion of a feasibility study. 
--  Pay to EMX the following AMR payments: 
    --  the value of 20,000 pounds of copper on or before the first
        anniversary of the Effective Date; 
    --  the value of 30,000 pounds of copper on or before the second
        anniversary of the Effective Date; 
    --  the value of 40,000 pounds of copper on or before the third
        anniversary of the Effective Date; 
    --  the value of 60,000 pounds of copper on or before the fourth
        anniversary of the Effective Date; 
    --  the value of 70,000 pounds of copper on or before the fifth
        anniversary of the Effective Date; and 
    --  the value of 80,000 pounds of copper on or before the sixth
        anniversary of the Effective Date and each anniversary thereafter of
        the Effective Date until commercial production commences on the
        Project. 

 
Desert Star may elect to pay cash to EMX in lieu of any shortfalls
incurred in any period in which it is required to incur exploration
expenditures, and may accelerate the schedule to make the option
payments, incur exploration expenditures or make the AMR payments. 
Each of the AMR payments shall be set off against the 2.5% net
smelter returns royalty payable to EMX upon a Project being brought
into commercial production. Desert Star may purchase one-fifth of the
royalty at any time before the twelfth anniversary of the Effective
Date by paying to EMX $2,500,000. 
Qualified Person 
Dr. Alan J. Wainwright, Ph.D., P.Geo., a Qualified Person as defined
by National Instrument 43-101, has read and approved all technical
and scientific information contained in this news release. Dr.
Wainwright is a consultant of the Company. 
To view Figs. 1 to 4 accompanying this press release, please visit
the following link: http://media3.marketwire.com/docs/896027.pdf 
About Eurasian Minerals 
Eurasian is a global gold and copper exploration company utilizing a
partnership business model to explore the world's most promising and
underexplored mineral belts. Eurasian generates wealth via grassroots
prospect generation, strategic acquisition and royalty growth. 
About Desert Star Resources 
Desert Star Resources is a Vancouver-based mineral exploration
company focused on the identification, acquisition and development of
copper and gold projects located in top-tier mineral belts in the
southwestern United States that contain significant historical
production, existing mining infrastructure and an established mining
culture. 
Vince Sorace, President and CEO, Desert Star Resources 
For further information regarding Desert Star, please email
info@desertstar.ca or visit our website at www.desertstar.ca. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Cautionary Note Regarding Forward-Looking Statements 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
This news release contains certain statements that may be deemed
"forward-looking statements". Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although Desert Star believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or realities may differ
materially from those in forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from estimated
results. Such risks and uncertainties include, but are not limited
to, Desert Star's ability to raise sufficient capital to fund its
obligations under the Option Purchase Agreements and earn-in such
Options; changes in economic conditions or financial markets; the
ability of Desert Star to obtain the necessary permits and consents
required to explore and develop the Projects; changes in
environmental and other laws or regulations that could have an impact
on the Company's operations. Forward-looking statements are based on
the beliefs, estimates and opinions of Desert Star's management on
the date the statements are made. Except as required by law, Desert
Star undertakes no obligation to update these forward-looking
statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
Contacts:
Desert Star Resources Ltd.
604-628-5623
604-647-6613 (FAX)
info@desertstar.ca
www.desertstar.ca