VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2013) - Estrella Gold Corporation (News - Market indicators) ("Estrella" or the "Company") is pleased to announce that John R. Wilson has been appointed President and CEO.

Mr. Wilson has over forty years of experience and success in all aspects of base and precious metals exploration, discovery, reserve definition, and mine development. His work has included discoveries in Brazil, Nevada, and Peru. He has also done detailed evaluations of numerous deposits and prospect types in varying geological settings throughout the western U.S., Russia, Chile, Peru, Brazil, Mexico, Central America, and Asia. His work for Cyprus Minerals Company, Codelco Corporation, Amoco, AMAX Mining Corporation, and Essex has ranged from initial prospect evaluation to the design and management of regional exploration, deposit modeling, and development programs. Mr. Wilson has a strong field orientation with excellent development skills and a proven record of discovery. More recently, Mr. Wilson has been the President of Animas Resources Ltd. after graduating to that position from the position of Vice President of Exploration.

Mr. Brown commented that, "We are very lucky to have someone of the geological and local Peruvian exploration experience that John has. The Board is very pleased that he has agreed to be the new President of Estrella."

The Board of Directors has also granted 300,000 stock options at a price of $0.11 expiring on January 14, 2017 under the Company's stock option plan. These options will vest 25% every six months. Upon a change of control of the Company, the options will vest immediately.

About Estrella Gold Corporation (News - Market indicators):

Exploration is risky and Estrella is seeking to increase the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, and then conducts initial, low-cost exploration to define a potential new deposit. Once defined, Estrella forms joint ventures with other companies that will provide funding and reduce Estrella's risk and expenditures. The Prospect Generator business model allows Estrella to aggressively seek the next major discovery. Estrella has twenty-three (23) active exploration properties in Perú, with fourteen (14) held in venture agreements, most in a strategic exploration alliance with Cliffs Natural Resources Exploration Inc. Of the nine properties held 100% by Estrella, the Company has six new epithermal gold targets, two early stage epithermal gold targets, and the Colpayoc gold-porphyry target which has a NI 43-101 compliant inferred gold resource containing 313,000 ounces of oxide gold (19.3 Mt @ 0.5 g/t gold, Global Geotechnologies Inc.; News Release dated 12/21/2011). The Company has 31.7 million shares issued and outstanding on the TSX Venture Exchange (News - Market indicators). Mr. Keith A. Laskowski, MSc., is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has prepared, reviewed and verified the technical information contained in this news release. Further information is available at Estrella Gold's website: www.estrellagold.com.

STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.