Nevada Star Resource Corp.: Properties Moving Toward Production.

Business Editors

SEATTLE--(BUSINESS WIRE)--June 7, 2004

:Nevada Star Resource Corp. (the Company or Nevada Star) (OTCBB:NVSRF) (TSX VENTURE:NEV) is pleased to report on the progress of two of its properties, both of which have the potential to generate revenue for the Company.

Gold Hill Property, Nevada

The Gold Hill property is located six miles north of the existing Round Mountain Gold Mine (RMG), about 48 miles northeast of Tonopah, Nevada. RMG, a joint venture between Kinross Gold Corporation and Barrick Gold Corporation, produces about 700,000 ounces of gold a year, but is quickly depleting its gold reserves and needs a new source of gold to continue operations beyond 2006 (per RMG's technical report dated March 21, 2003 which can be viewed at http://www.kinross.com/op/pdf/Technical-Report-Round-Mountain.pdf).

In May of 2000, Nevada Star executed an agreement with RMG in which RMG will make yearly payments to Nevada Star in addition to carrying out an exploration program. When RMG puts the Gold Hill property into production, RMG will pay Nevada Star a minimum royalty payment of 2% net production royalties when gold prices exceed $350 U.S. per ounce (1% when gold prices are below $350 U.S. per ounce). Royalty payments are capped at $10 million U.S..

During the period May 2, 2002 to May 2, 2003, RMG continued development drilling, completing over 58,000 feet of reverse circulation drilling and 8,000 feet of diamond core drilling. Additional geologic mapping and soil and rock geochemical surveys were completed. Metallurgical test work on various ore types was also completed. RMG filed a "Plan of Operations" for the construction, operation and reclamation of an open pit mine and processing facilities at Gold Hill with the Bureau of Land Management (Tonopah office), on July 11, 2003.

In April 2004, the Bureau of Land Management directed the preparation of an Environmental Impact Statement (EIS) for the Gold Hill Project. According to the Bureau of Land Management the EIS is scheduled to be completed in July 2005. RMG is targeting production to start on the Gold Hill property at the end of 2006.

"We are pleased that the Round Mountain Gold Mine is proceeding with the Environmental Impact Statement on the Gold Hill property. Once the property is successfully placed into production, we feel confident that the full value of the Company's royalties will ultimately be realized," stated Stuart Havenstrite, a Certified Professional Geologist with the American Institute of Professional Geologists and Director at Nevada Star Resource Corp.

Milford Project, Utah

The Milford Project is approximately 8,200 acres and is located 10 miles northwest of Milford, Utah in Beaver County. The Milford area has a history of intermittent copper, iron and tungsten production. While extensive drilling by Nevada Star and previous operators estimated the potential for production of up to 54 million pounds of copper over five years, due to low copper prices at the time, the plant and production facilities were never constructed.

In December 2003, Nevada Star sold its copper property to Western Utah Copper Company (WUCC). Under the terms of the sale, WUCC has until December 2006 to put the property into production or return it back to Nevada Star. Once in production, Nevada Star will receive 1% of net proceeds from the first 10 million pounds of copper produced and 1.5% of net proceeds thereafter, and a 2% net smelter return on all other minerals produced. The payments are subject to a $10 million U.S. cap on all royalties paid to Nevada Star.

Immediately after WUCC exercised its option to purchase the property from Nevada Star, they announced a partnership with Palladon Ventures Ltd (TSX-V: PLL) to further develop and finance the project.

On May 31, 2004, Palladon released the results of the first three drill holes of its current exploration campaign at the Maria deposit (part of the Milford project). All holes intercepted significant copper mineralization, plus potentially-valuable gold, silver, molybdenum and tungsten.

Palladon president George Young said, "Palladon's initial drilling at the Maria deposit has been encouraging, not only because of the copper intercepts but also because of the presence of molybdenum and tungsten. The drilling results indicate that the copper and other mineralization extend to considerable depth within this deposit. The mineralized zone begins at the present surface, which adds to the attractiveness of this deposit for potential early development. We plan to continue our drilling program at the Maria, to further test the mineralization along strike and down dip, and to establish a relationship with the known mineralization in the Valley Copper area."

In addition, on May 27, 2004, Palladon Ventures released the results of the first four drill holes of its current exploration campaign at the Hidden Treasure project (part of the Milford project). All holes intercepted significant, near-surface copper mineralization, with gold, silver, molybdenum and tungsten values.

Palladon president George Young said, "Our first drilling at two of the known iron oxide-copper-gold-silver deposits within the Western Utah Copper District has yielded encouraging results. There is ample room to add significantly to the amount of mineralized material previously-indicated by drilling. Both of these deposits are very near-surface, which contributes to their attractiveness for early establishment of mining. We plan to continue our drilling program at both deposits to establish value in these deposits."

Palladon has also reported that it is in the process of reviewing previous reports and preparing new and supplemental reports and materials to ensure compliance with National Instrument 43-101 to cover the Western Utah Copper Project, including the existing feasibility study recommending production on the copper skarns.

To view the full text and drill results from Palladon's press releases, please go to: http://www.cdnx.com/LCDB/Filings.asp?POID=38944&NRMODE=1.

Please see the Company's web site - www.nevadastar.com - for maps, photos and project description.

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. Platinum is key to building hydrogen fuel cell technologies that will help significantly reduce air pollution and American dependency on foreign oil. Nevada Star Resource Corp. currently has projects in Alaska, Nevada and Utah.

Stuart Havenstrite, a qualified person as defined by National Instrument 43-101, reviewed the technical information contained in this release.

This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This release was prepared by management of the Company who takes full responsibility for its contents. Neither the TSX Venture Exchange nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy or accuracy of this news release.