Eagle Star Minerals Corp. (TSX-V: EGE and OTC Other: ELGSF) is pleased to announce that it has received approval from the National Mining Agency of Brazil (DNPM) of its application for 39 mineral claims covering an area of 80,000 hectares in the centre of the state of Piaui – Northeast Brazil The concessions are located in areas with extensive phosphate potential.
Eran Friedlander, Eagle Star’s CEO commented on the news: “This is a significant milestone for us as it is the first opportunity to be staked and wholly owned by the Company in Brazil. The Company’s Brazilian team has been directly involved in the selection and claiming process as a result we are very confident about developing this project to production. With phosphate demand being strong in Brazil we believe that this new asset will add significant value to our portfolio.”
Eagle Star also announced a $2.5 million dollar non-brokered financing completed at C$0.25 plus one half warrant at C$0.35.