Drilling Underway at Nevada Star's Man Alaska Project.SEATTLE -- Nevada Star Resource Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NVSRF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:NEV NEV Nevada (old style US postal abbreviation) NEV Neighborhood Electric Vehicle NEV Nevis, Leeward Islands, Saint Kitts And Nevis (Airport Code) NEV Network Enhancement Vehicle NEV Network Event Viewer ) ("Nevada Star") is pleased to announce that a 2000 meter reverse circulation drilling program has commenced on the Canwell intrusion (area 4) of the MAN property in the Delta River Mining District, Alaska. The drilling program is targeting several conductors identified from exploration work completed on the Canwell intrusion earlier this summer which included 3D mag-inversion, UTEM data interpretation, min/max electromagnetic studies, gravity work, and rock and soil sampling. The field work started on July 1, 2004. The results from this and other data were used to identify four primary drill targets. Of particular interest is a newly discovered, very large embayment area on the Canwell intrusion. This embayment was discovered as a result of reprocessing all the data on the Canwell intrusion and incorporating this data into a 3D mag-inversion model. Modeling of the embayment suggests that a large feeder is connected to the embayment from the west. Coincident Ni and PGE anomalies in soils and UTEM and Max-Min anomalies are present along the north and south margins of the embayment feature and constitute high-priority drill targets where no previous drilling has occurred. Curt Freeman, CPG CPG central pattern generators. , of Avalon Development Corporation is the Company's Qualified Person who is managing the drill program this year. About the MAN Project Nevada Star Resource Corp. (OTC-BB: NVSRF and TSX-V: NEV) 271 square mile Alaskan property, officially called the MAN Project, began in 1995 and is located 164 miles southeast of Fairbanks and 248 miles northeast of Anchorage -- an area characterized by its anomalously high nickel and PGE concentrations. Exploration results to-date on the MAN property indicate that it has the potential for a significant discovery nickel, the platinum group elements, and gold, metals which are in high-demand but in short supply globally, especially as the Noril'sk supply diminishes. The MAN Project, which consists of five distinct project areas: Canwell, Rainy/ Eureka, Summit Hill, Dunite dunite Yellowish green to green igneous rock composed almost entirely of olivine. Chromite and magnetite also occur in dunite, as do spinel, ilmenite, pyrrhotite, and platinum in some cases. Dunites may be a source of chromium. Places of occurrence include Dun Mtn. Hill/Fish Lake, and Broxson, is supported by a solid infrastructure: it is accessible from two paved highways and borders the Alaska Pipeline. View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas. The southern section (area 1) of the MAN property is now under joint venture with Anglo American Exploration (USA), Inc. (Anglo USA), who will perform its own exploration program pursuant to its agreement with NEV. Anglo USA is a wholly owned indirect subsidiary of Anglo American plc Anglo American plc (LSE: AAL, JSE: ANGLO) is a world-wide group of companies, originally founded in South Africa as a mining enterprise but now extending into other areas. Natural resources remains the focus of its operations. , a global leader in the mining and natural resource sector. Under the terms of the joint venture agreement, Anglo USA can earn a 51 percent interest in the southern portion of the MAN property by spending a total of US $12 million over a five-year earn in period. Anglo USA has the right to increase their interest by an additional 19 percent by completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and an additional five percent by arranging production financing for both Anglo USA and NEV. Anglo began a US $600,000 field exploration program earlier this month. Nevada Star Resource Corp. is a mineral exploration company that uses the most advanced technology to search for metals that are in high demand world-wide. Nevada Star Resource Corp. currently has projects in Alaska, Nevada and Utah. For more information, including maps, photos and project descriptions, visit: www.nevadastar.com. This release was prepared by management of Nevada Star Resource Corp. Neither the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. nor the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. have reviewed or accept responsibility for the adequacy of this news release. |
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