Eagle Star Minerals Corp. (EGE:CA)

Eagle Star Minerals Corp (hereby "Eagle Star") is a publicly listed company trading on the TSX-V exchange under the ticker symbol – EGE.V. The company is focused on the acquisition, exploration and development of agro-mineral properties in Brazil.

Over the past year Eagle Star Minerals has reshaped its strategy to allow a substantial growth in its' presence in Brazil and creation of a compelling value proposition to its shareholders.

With the help of its highly experienced local geological team, Eagle Star has managed to identify and stake areas with significant potential to host large phosphate deposits. These wholly owned assets, located in close proximity to agriculture and existing infrastructure, provide Eagle Star with a real chance to become a producer of a commodity that benefits from an immediate, strong local market at a very attractive cost structure within arelatively short period of time.

By acquiring the rights to 112 mineral claims, Eagle Star Minerals has amassed a strategic land base of approximately 200,427 hectares (over 497,904 acres) in Northeastern Brazil that features strong-grade phosphates. Eagle Star's Samba and Ruth agro-mineral projects are both located within the state of Piaui, known for its' rapidly growing agricultural productivity and severe depletion of fertilizers. By developing fertilizer-grade phosphates, Eagle Star is capitalizing on behalf of its shareholders on theneeds of Brazils' surging economy.

SAMBA AGRO-MINERAL PROJECT

OVERVIEW
Located within the central western portion of Piaui state and near the cities of Valença and São José do Peixe, Eagle Star's 100%-owned Samba agro-mineral project is believed to host a large phosphatedeposit. The project is conveniently located next to a large agricultural center and to the East-West Transnordestina railroad.
The region is semi-arid with a hot and dry climate, ranging from minimum temperatures of 18°C to maximum temperatures of 36°C. The average annual rainfall is around 600mm, and January-February-March is the rainy season.
CONCESSIONS & INFRASTRUCTURE
The Samba Project is divided into the North and South Blocks and together covers 109,285 hectares (270,049 acres) across 60 mineral claims.
The project area is close to the Balsas Agricultural Center (same agricultural district as Eagle Star's Ruth Project) that crosses 69,218km2 and produces over 2.3 million tonnes of soya beans annually. In addition, the East-West Transnordestina railroad passes approximately 100km from the Southern concession block and is expected to be operational by 2013.
SAMPLING AND GEOLOGY
Regional recognition work performed by Eagle Star investigated an area of 200km by 170km distributed into 3 sub areas. The work was focused on the Parnaiba Basin, which consists of rock types that typically host phosphate mineralization.
The Samba concessions cover an extensive area that runs across the central part of Piauí state. Field observations suggest that the sediment contribution occurred from South to North and that the areas favorable to deposition of phosphate bearing rocks are situated in the central portion of the Parnaiba Basin.
The regional sampling was performed mostly on road cuts in accordance to the best sampling practices (0.5 -1m channel samples) and generated 201 samples.
Lab results obtained to date demonstrate a excellent exploration case for Samba (with 12% of regional samples returning values of over 2.5% P2O5 cutoff grade)


The positive results are observed within topographic levels that vary from 163 to 253m supporting a geological modelcharacterized by the presence of multiple mineralized layers. Moreover, the stratified characteristic of rock types observed in this formation is similar to what has been previously seen in other sedimentary deposits, which can suggest that Eagle Star has acquired areas with substantial phosphate potential.
A Follow-up exploration program will focus on detailing the areas with significant results while looking to expand the already extensive phosphate mineralization laterally. Eagle Star will make it a priority to develop drill targets and begin a drill program by Q2 2012.

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Ruth Agro-mineral Project

OVERVIEW
Eagle Star's 100%-owned Ruth agro-mineral project ("Ruth") is located in the center of Piauí state, near the cities of Picos and Eliseu Martins. Within Ruth's claims boundaries, lay widespread phosphate bearing rock types, which are believed to host a large phosphate deposit. The project is in the vicinity of a large agricultural center while also surrounded by favorable infrastructure.
The region is semi-arid with a hot and dry climate, ranging from minimum temperatures of 18°C to maximum temperatures of 36°C. The average annual rainfall is around 600mm, and January-February-March is the rainy season.
CONCESSIONS & INFRASTRUCTURE

Ruth's project area has excellent infrastructure consisting of roads, water reservoirs and power lines. It's also home to the future Transnordestina railroad line which is in final stage of construction and is expected to be completed by the year 2013 at a construction cost of $3.21 billion USD.

The project vicinity houses a large soy growing industry known as the Balsas Agricultural center covering an area of 69,218km2 that crosses two states, and is responsible for the production of over 2.3 million tonnes of soya beans annually.

All five main concession blocks cover approximately 91,142 hectares (227,855 acres) across 52 phosphate bearing mineral claims.

GEOLOGY & SAMPLING

Early sampling performed by the Eagle Star team in areas located within the Parnaiba Basin in the central sedimentary region has confirmed their assertion that the Parnaiba's sedimentary basin has all the paleo-geological components necessary to host a phosphate deposit namely: marine cold waters sediments, low sedimentation rates and concretionary sediments.

Due to the extremely large target area (200km x 20km), Eagle Star performed a wide regional sampling program focused on existing road cuts. 267 samples were collected. Best results confirmed the need to initiate follow up exploration work at the Paes Landin block in two targets: Brasília and Salvador.

Within the Salvador and Brasília targets, a total of 22 trenches (33m linear meters) were opened with excavator equipment to investigate the layered mineralization. Due to the machinery limitation theaverage depth of the trenches was 1.5m. The trenches covered a significant package of topographic levels (220m – 270m with gaps) of the potentially mineralized zone. The channel sampling inside the trenches was done at every 1 or 2 meters and generated 335 samples (0.5 – 1m intervals). Results are currently pending.
Due to the stratified characteristics of the phosphate bearing rock types and the lateral continuity of the mineralized package, it is expected to cover a significant area, being limited by the boundaries of the potentially mineralized geological unit and by location of high-grade zones.
The samples are being analyzed by SGS Geosol Laboratory in Belo Horizonte (Minas Gerais state). The lab is well known internationally for its high quality analysis and ISO certification.
Further exploration and drill testing at the Paes Landin block relies on the trench sampling results. A follow up exploration program for the Canabrava and Santa Cruz Blocks is planned to commence early 2012.

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BOMFIM AGRO-MINERAL PROJECT

OVERVIEW
Eagle Star has the option to own 100% of the Bomfim Agro-mineral Project ("Bomfim") is located in the southern most part of the Tocantins state near the city of Campos Belos. Bomfims' claims are situated just 20 kilometers from the Itafós Arraias SSP Project ("Itafós") owned and operated by MbAC Fertilizers (TSX:MBC). The project is surrounded by large agricultural centers of West Bahia and NE Goiás states in an area known as the Cerrado. The soil here is very old and lacks sufficient nutrients needed for efficient agricultural production.

The Cerrado region's typical climate is hot, semi-humid, with pronounced seasonality marked by a dry winter season from May through October. The annual rainfall is around 800 to 1600 mm.
CONCESSIONS AND LOGISTICS
The Bomfim Agro-mineral project covers 30,922 Hectares across 4 claims and all exploration licenses and permits are in place. The projects benefits from local roads, communication and power lines all in close proximity. Bomfim is located on what is now considered the new phosphate belt of brazil where many major companies have claimed including MbAC Fertilizers, Vale, Bungee and Votorantim.



GEOLOGY AND SAMPLING



Eagle Star's exploration program will be overseen by Dr. José Eloi Guimarães Campos who is a member of Eagle Stars board and Chief Operating Officer. Dr. Campos has direct experience with the Itafos Arraias Phosphate Project (now owned and operated by MbAC Fertilizers), where he acted as co-advisor to the technical study and in depth observation of the geological model.



Early mapping and sampling as part of Eagle Stars' due diligence program have presented a very strong case for the extension of the Itafós phosphate deposit to pass directly through the Bomfim claims. The Bomfim project itself shares much of the same technical characteristics and economic merits that can be found in the proven geological model to that of Itafós.



According to the metallogenetic model, the mineralization extends through the contact between the Arraias group/basement rocks and the basalt units of the Bambui Group, wherein both the Itafós and Bomfim projects are located. The main mineralization controls are present at the area and include the phosphorous source, paleo channels environment and outcropping phosphorite lenses, this last being the proof of mineralization and from where Eagle Star has sample results up to 28% P2O5.