Aldebaran Property - Chile 51 Percent Arizona Star Resource Corp. - 49 Percent Bema Gold Corporation.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 29, 1996-- BEMA GOLD CORPORATION (TSE,VSE,AMEX:BGO) ARIZONA STAR (VSE:AZS) Bema Gold Corporation ("Bema") and Arizona Star Resource Corp. ("Arizona") are pleased to announce additional assay results from further deep diamond drilling on the Cerro Casale deposit in northern Chile. -0-

Table of Results

Hole #    Interval   Length     Gold    Copper   Comments
         (Meters)   (Meters)   (g/t)    Percent

DD-30      3-254     251       0.55     0.085   oxide porphyry
           254-418   164       0.52     0.27    porphyry
           418-800   382       1.00     0.26    open at depth
  includes 418-706   288       1.08     0.28

DD-29        0-340   340              low grade propylitic
                                       altered porphyry
           340-352   12        0.36     0.54    chalcocite
           352-602   250       0.38     0.18
           602-682   80        0.71     0.29    porphyry open
                                                at depth

Diamond drill hole 30 indicates a substantial increase in the width of the main porphyry zone which was previously estimated at a minimum 850 meters long (northwest/southeast) by 300 meters wide (northeast/southwest) by 750 meters deep. The bottom of hole 30 is 350 meters southwest of the southern boundary of the main porphyry zone. It was drilled from the center of the main porphyry zone at a minus 50 degree dip to the southwest to a total depth of 800 meters. Hole 29 was drilled from the south on the opposite side of the mountain through propylitic altered porphyry. The bottom 80 meters of this hole is in potassically altered porphyry mineralization.

The Cerro Casale main porphyry zone remains open to the south, west, northeast and at depth. Diamond drill holes 31 and 33 have been drilled north of the main porphyry zone and dip to the north. Hole 32 was drilled on the south side of Cerro Casale and is also outside of the main block of mineralization. All three holes intersected porphyry mineralization. Assay results from these holes will be released as available.

Drilling at Cerro Casale is ongoing. Two additional diamond drill rigs capable of drilling more than a kilometer deep have been ordered and should be on site by mid September.

Bema Gold is the largest shareholder of Arizona Star and manages its affairs.

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   BEMA GOLD CORPORATION          ARIZONA STAR RESOURCE CORP.
     Clive T. Johnson                   Roger Richer
 Chairman, CEO and President              President

The Vancouver and Toronto Stock exchanges neither approve nor disapprove the information contained in this News Release. Bema Gold Corporation trades on the Vancouver, Toronto and American stock exchanges. Symbol - BGO Arizona Star Resource Corp. trades on the Vancouver Stock Exchange. Symbol - AZS

CONTACT: Bema Gold Corporation

John Anderson, 604/681-8371

604/681-6209 (Fax)

800/316-8855

or

Arizona Star Resource Corp.

John Anderson, 604/681-8371

604/681-6209 (Fax)

800/316-8855