SEATTLE, July 14, 2005 (PRIMEZONE) -- Nevada Star Resource Corp. (OTCBB:NVSRF) (TSX-V:NEV) ("Nevada Star") is pleased to announce that Anglo American Exploration (USA) Inc.'s ("AAEUS") completed its Phase 2 program on Area 1 (Fish Lake-Dunite Hill Area) of Nevada Star's MAN Alaska property on June 20, 2005. A total of 7330 feet of drilling was completed in 8 holes. Tentatively scheduled for August, AAEUS plans to further refine and identify new targets for drillings in 2006.
Anglo American Exploration (USA) Phase 2 Program
The principal objective of the Phase 2 program was to identify nickel sulphide mineralization through drill testing of selected priority geological, geochemical and geophysical targets. The focus of the program was the Fish Lake and Dunite Hill intrusions, which together comprise 150 square miles of the 271 square mile MAN Alaska project area.
A summary of Phase 2 work completed by AAEUS follows below:
-- Ground EM surveys over multi-element soil anomalies
identified during the Phase 1 (2004) exploration program.
-- Diamond drilling of coincident geological geophysical and
geochemical anomalies (8 holes drilled for a total of 7330
feet, with borehole EM)
-- Structural and geological mapping and sampling.
Assay results to be released pending Quality Assurance and Quality Control (QA/QC) confirmation by AAEUS.
Proposed Extended August Program
AAEUS plans to commit additional funding, above the contract commitment, to a Phase 3 exploration program for August 2005. The Phase 3 program will include a ground EM and magnetic geophysical surveys and soil and rock geochemical surveys over selected target areas identified in the previous exploration programs. The purpose of the Phase 3 program will be to develop and refine drill targets for a winter-spring 2006 drill program.
Results from all the above programs will be integrated into the existing database and analyzed for determination of further work.
About the MAN Alaska Project
Nevada Star Resource Corp.'s 271 square mile Alaskan property, officially called the MAN Alaska Project, is located 164 miles southeast of Fairbanks and 248 miles northeast of Anchorage. Exploration by Nevada Star began in 1995 in this large area which is characterized by its extremely anomalous nickel, PGE, and gold concentrations.
Exploration results to date on the MAN Alaska property indicate that it has the potential for a significant discovery of nickel, platinum-group elements, and gold metals.
The MAN Alaska 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. View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas.
The Dunite Hill/Fish Lake section (Area 1) of the MAN Alaska property is now under joint venture with Anglo American Exploration (USA), Inc. (AAEUS), who is performing its exploration program pursuant to the agreement with Nevada Star. AAEUS is a wholly owned indirect subsidiary of Anglo American plc, a global leader in the mining and natural resource sector. Under the terms of the joint venture agreement, AAEUS can earn a 51 percent interest in the southern portion of the MAN Alaska property by spending a total of $12 million USD by 2008. AAEUS has the right to increase their interest by an additional 19 percent by completing a positive feasibility study, at its expense, and an additional 5 percent by arranging production financing for both AAEUS and Nevada Star.
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. The Nevada and Utah properties are in joint partnership with Round Mountain Gold, and Western Utah Copper Company, respectively. Both properties are scheduled to go into production in early 2006. 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 nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy of this news release.