Mr. Adrian Robertson reports

URASTAR GOLD CORP. SECURITYHOLDERS APPROVE PLAN OF ARRANGEMENT WITH AGNICO EAGLE MINES LIMITED

Urastar Gold Corp.'s securityholders have approved the previously announced statutory plan of arrangement under the Business Corporations Act (British Columbia) involving the company, Agnico Eagle Mines Ltd., holders of common shares of Urastar, holders of common share purchase warrants of Urastar and holders of options of Urastar. At the special meeting of securityholders held May 14, the arrangement was approved by 99.76 per cent of the securityholders, voting together as a single class, and by 99.64 per cent of the shareholders after excluding votes required to be excluded in accordance with Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions.

The arrangement requires approval by the Supreme Court of British Columbia. The hearing in respect of the final order to approve the arrangement is currently scheduled to take place on May 15, 2013. If the final order is obtained on May 15, 2013, and all other conditions to completion of the arrangement are satisfied or waived, it is expected that the arrangement will become effective on or about May 16, 2013.

Pursuant to the arrangement, Agnico Eagle will acquire all of the issued and outstanding common shares. Under the terms of the arrangement, each shareholder will receive in exchange for each common share held, 25 cents in cash. Holders of in-the-money warrants that have not otherwise exercised their in-the-money warrants will receive 15 cents in cash for each in-the-money warrant held. Out-of-the-money warrants and options will be cancelled as part of the arrangement. Agnico Eagle has agreed to advance approximately $1.6-million to the company on closing to finance the payment of the company's transaction expenses and severance costs.

For further details regarding the arrangement, please refer to the management information circular of the company dated April 8, 2013, a copy of which is available under the company's profile on SEDAR.

We seek Safe Harbor.