Bema Gold and Arizona Star - Cerro Roman Drill Results Indicate Another Discovery - Aldebaran Property Chile - Arizona Star 51 Percent/Bema Gold 49 Percent.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 4, 1996-- Bema Gold Corporation (VSE,TSE,AMEX:BGO) Arizona Star Resources (VSE:AZS) Arizona Star Resource Corp. ("Arizona Star") and Bema Gold Corporation ("Bema Gold") are pleased to announce encouraging drill results from the Cerro Roman zone at the Aldebaran Property in Northern Chile. These results confirm the Cerro Roman zone's potential to host a multi million ounce gold deposit.

A total of 12 reverse circulation holes have now intersected the Cerro Roman zone. Assay results have been received from 7 holes from the current program and 2 from previous drilling. Significant intercepts of these holes are as follows:

-0- Drill Hole From - To Interval Au (grams/tonne)

(meters) (meters) Grade

CR 7 54.9 - 96.0 41.1 1.33 CR 8 0 - 99.1 99.1 1.14 CR 10 14.0 - 114.0 100.0 1.11 includes 14 - 62 48.0 1.67 CR 11 28.0 - 128.0 100.0 0.90 includes 28.0 - 60.0 32.0 1.23 plus 92.0 - 116.0 24.0 1.12 CR 12 20.0 - 94.0 74.0 1.03 CR 13 50.0 - 112.0 62.0 0.42 CR 14 98.0 - 134.0 36.0 1.58 CR 15 0 - 98.0 98.0 0.48 CR 16 90.0 - 138.0 48.0 1.63

-0-

Drill holes CR 7, CR 8, CR 11, CR 13 and CR 15 were drilled directly on the Cerro Roman zone and confirm the consistency and grade of this oxide zone. Drill holes CR 10, CR 12, CR 14 and CR 16 were drilled east of the Cerro Roman on top of the volcanic cover that separates Cerro Roman from the Romancito zone. These holes are extremely significant in that they confirm Cerro Roman and Romancito are connected and form one larger zone under a thin layer of volcanic cover as had been suggested by geophysical surveys. Romancito outcrops at surface 1.4 kilometers east of Cerro Roman. These initial drill holes have tested 400 meters of this strike length. Drilling is ongoing to further test the extent of the zone.

CERRO CASALE UPDATE

Drilling is continuing at Cerro Casale 7 kilometers south of Cerro Roman. Since the last news release on October 24, 1996 when holes up to and including DD 37 were released, four diamond drill rigs have been working on the deposit that have completed nine additional deep holes with four more in progress. Four of the completed holes were drilled in the main porphyry zone, four were drilled as edge holes and one hole (DD 44) was drilled as a follow up to the intersect of hole DD 30, a major step out hole on the south side of the porphyry. Hole DD 44 was drilled from the top of the hill at Cerro Casale, vertically to a depth of 1,345 meters. Assay results from the completed holes will be released before year end.

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

-0-

NOTE: The Vancouver and Toronto stock exchanges neither approves nor disapproves the information contained in this News Release. Bema Gold Corporation trades on the Vancouver, Toronto and American stock exchange, symbol BGO. Arizona Star Resource Corp. trades on the Vancouver Stock Exchange, symbol AZS.

CONTACT: Bema Gold Corporation

John Anderson, 604/ 681-8371

or

Arizona Star Resource Corp.

John Anderson, 604/ 681-8371