Newstrike Resources Ltd. Provides Exploration Update

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2011) - Newstrike Resources Ltd. (TSX VENTURE:NR) announces that it plans to drill a 500m diamond drill hole to test the gold zones previously intersected in the nearby Queenston Mining Inc. Pawnee hole PW10-14, which intersected 0.7 g/t Au over 19 m, including 2.5/3.5m, 2.3/1.2m, 1.3/1.0m and a 2nd zone averaging 1.7/3.4m on claim L7478 about 400m Southwest of Morris-Kirkland shaft #2. These gold zones are interpreted to be the southern extension of the Morris-Kirkland gold system.

The planned hole would test these zones 50-85m up dip and 25-50m along strike at an assumed azimuth of 020°. The planned 450-500m hole is anticipated to establish the dip and strike of the hole PW10-14 gold zones and would help plan deeper drilling if warranted.

Drilling will start the week of December 11, 2011 and will take approximately 5 days to complete.

The project will be managed by Gerhard Meyer, P.Geo., who is the qualified person as defined by National Instrument 43-101, and is responsible for reviewing the content in this press release.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Newstrike, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.