D'Aguilar Gold Limited (ASX:DGR) Update On The Scrip-based Take-over Of Ridge Exploration By Coltstar Ventures Inc (CVE:CTR)

Brisbane, Sep 6, 2010 AEST (ABN Newswire) - Following the previous market release of 29 June 2010, the Directors of D'Aguilar Gold Limited (ASX:DGR) (D'Aguilar) and its 86% owned iron and titanium focused subsidiary, Ridge Exploration Pty Ltd (Ridge) have been notified that the Toronto Stock Exchange (TSX) have granted conditional approval for Coltstar Ventures Inc (CVE:CTR) (Coltstar) to proceed with its scrip-based acquisition of Ridge.

Coltstar is now moving to finalise matters with the TSX before seeking shareholder approval for the transaction. Finalisation and settlement of the transaction is expected by 31 October 2010.

Since the time the announcement of the transaction was first made, Coltstar's share price has increased from CDN$0.50 to a current level of CDN$0.90.

This, in turn, has increased the value of D'Aguilar's expected stake in Coltstar from approximately AUD$4.75 million at the time of the original announcement, to a current value of approximately AUD$8.5 million.

Further news will be released when available.

About Ridge

Ridge, together with Eastern Exploration, holds exploration licences for iron ore over parts of the northern Surat Basin, the underlying basement and other areas where previous work has identified iron ore development with over 40% iron content in lateritised profiles. While over the past 40 years the mining industry has concentrated on the exploitation of haematite ores grading better than 55% iron, it has been overlooked that for most of the history of the iron and steel industry (many centuries), iron ore grading +35% was the accepted standard. Given that the Ridge target areas are situated adjacent to massive coal and gas reserves (owned by unrelated third parties) and given the current high prices for iron ore, it is possible that lower than currently used grades of iron ore should be able to be very profitably exploited even bearing costs of upgrading by processing.

Initial field work has already identified extensive deposits of sediment hosted iron ore with many assays >40% Fe. The largest and strongest iron deposit identified lies in the Johnson Creek area on the eastern edge of the Basin approximately 100km southwest of Mundubbera and 80km east of Wandoan, referred to as Cadarga. Mapping and sampling work at Cadarga has also led to the discovery of high grade Titanium Dioxides (to 31% TiO2) around an interpreted basaltic volcanic centre near the town of Monogorilby. The deposit is flat lying within a lateritised volcanic breccia and covers about 6 square kilometres around a diatreme style of volcanic vent.

About Coltstar

Coltstar Ventures Inc was established in 2006 and is based in Vancouver, Canada. Coltstar is a Tier 2 TSX Venture Exchange listed company headed by CEO Damien Reynolds. Coltstar's stated objective is to utilise the proven skills of its talented team to advance the economic value of world-scale natural resource projects, for the benefit of all stakeholders.

As part of its focus on world-class iron-ore projects, Coltstar has just announced the staking of a 958km2 tenement area contiguous with Chevron Canada Limited's Crest iron deposit which is incorporated within a 600km2 area straddling the Yukon - Northwest Territories border in Northern Canada.

Through its subsidiary, Tuscany Minerals (OTC:TUSMF), Coltstar is also focused on the acquisition, exploration, and development of gold properties in Italy. Its principal property includes the Colline Metallifera gold property, which consists of six exploration permits located in Tuscany, Italy.

Coltstar recently announced that a silt sampling campaign has expanded a large, gold-in-silt anomaly on its Torniella Property in central Italy. This anomaly exhibits very high gold values (greater than 1,000 ppb) in a setting similar to that of high-sulphidation gold mines in Latin America, such as Pierina, Yanacocha, Pasqua-Lama and Fruta-del-Norte. The Torniella exploration permit, covering a surface area of 2,130 hectares, is located 110 kilometres north-west of Rome in an area which hosts significant mining activity, including more than 500 quarries.

Contact

Mr Nicholas Mather Managing Director Karl Schlobohm Company Secretary D'Aguilar Gold Ltd Ph: +61-7-3303-0680 http://www.daguilar.com.au