Eagle Star Minerals Announces Exercise of Warrants

TSXv Trading Symbol: EGE; FSE: E6R; OTC PINK: ELGSF

Eagle Star Minerals Announces Exercise of Warrants

February 4, 2011, Vancouver, British Columbia: Eagle Star Minerals Corp., (TSX.v: EGE) (FSE: E6R) (OTC PINK: ELGSF) (“Eagle Star” or "the Company") Further to its news release dated December 21, 2010 the Company announces that 5,350,000 of the 6,425,000 warrants were exercised at a price of $0.20 cents with 1,075,000 expired. The Company has received $1,070,000 from the exercise of the warrants. The funds will be used for general working capital and its Angico Iron project in 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 mineral properties in North and South America. The Company’s shares are publicly traded on the TSXv under the symbol EGE and on Frankfurt Stock Exchange under the symbol E6R.F.

On behalf of the Board of Directors

EAGLE STAR MINERALS CORP.

“Eran Friedlander”

Eran Friedlander, President

For more information contact: Balraj Mann, CFO

Phone: 1-604-601-2018 Email: [email protected]

Neither 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 does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

Suite 600 – 666 Burrard Street, Vancouver, B.C., Canada, V6C 2X8 Tel. 604-601-2018 Fax. 604-688-1320 | www.eaglestarminerals.com

TSXv:EGE