Nevada Star Enters Into an Exploration, Development and Mine Operating Agreement With Anglo American on the Man Property in Alaska.SEATTLE -- Mr. Robert Angrisano, President of 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") is pleased to announce that an Exploration, Development, and Mine Operating Agreement has been signed with Anglo American Exploration (Canada) Ltd. (AAEC AAEC Association of American Editorial Cartoonists AAEC Australian Atomic Energy Commission AAEC Applied Automated Engineering Corporation AAEC Advanced Automated Electronic Classroom AAEC aeromedical evacuation control team ) on NEV's MAN property in Alaska. The work program will start immediately. The MAN property is divided into five separate areas. Under the terms of the agreement, AAEC can earn a 51 percent interest in area 1, the 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 area, by spending a total of US $12 million by December 31, 2008. AAEC has the right to increase their interest by an additional 9 percent by completing a pre-feasibility study, an additional 10 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 5 percent by arranging construction financing for both AAEC and NEV. "We are extremely pleased to have AAEC as a partner in the development of this project. AAEC brings with it some of the most advanced technology and methods in the industry for the discovery and identification of mineable ore bodies," said Robert Angrisano, President of Nevada Star Resource Corp. About the MAN Project Nevada Star's 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 of these 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 Hill/Fish Lake, and Broxson is supported by a solid infrastructure. It is accessible from two paved highways and borders the Alaska Pipeline. Please go to the company's website for a maps of the five areas http://www.nevadastar.com/s/MANProject.asp. In addition to our agreement with AAEC, Nevada Star intends to seek joint venture agreements on the remaining four properties that make up the MAN project. Nevada Star Resource Corp. is a mineral exploration company that uses the most advanced technology to search for metals that are in high demand, such as platinum and gold. 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. who take full responsibility for its contents. 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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