SEATTLE, Sept. 20, 2005 (PRIMEZONE) -- Nevada Star Resource Corp. (OTCBB:NVSRF) (TSX-V:NEV) ("Nevada Star") is very pleased to report the results of the spring 2005 drill program by Anglo American Exploration (USA), Inc. ("AAEUS"), on the MAN Alaska Ni-Cu (PGE) Project, located on the Richardson and Denali highways, 400 km (250 miles) north of Anchorage and 270 km (170 miles) south of Fairbanks, in south-central Alaska. AAEUS can earn up to 75% interest in Area 1 by spending $12 million on exploration by July 2008, performing a feasibility study, building a production facility and providing Nevada Star with financing to cover its portion of the construction cost. AAEUS was the operator of the drill program.
The drill program, consisted of 2,220 metres (7,330 feet) in eight diamond drill holes. It tested geophysical, geochemical and geological anomalies near exposures of Ni-Cu (PGE) sulfide showings and sulfide gossans within the Fish Lake Ultramafic Complex. Six of the 8 holes were surveyed by downhole EM.
The best assay results were for drill holes 1, 6, and 8 (Table 1). Drill hole 8 was drilled to test strong multi-element geochemical anomalies associated with a sulfide gossan (1 km long by 150 metres wide) in the centre of a large interpreted Kambalda-like footwall embayment feature along the base of the Fish Lake Complex. The drill hole encountered massive Iron-Nickel-Copper (Fe-Ni-Cu) sulfide mineralization within ultramafic rock, approximately 70 metres (230 feet) upsection of the basal contact. Assay results include 0.97% Ni, 0.14% Cu over 1 metre (3.3 feet), including 3.22% Ni and 0.38% Cu over 22 cm (9 inches) from 150 metres (500 feet) depth and a 2 cm (1 inch) thick massive sulfide zone calculated to contain 12% Ni.
Table 1. Summary of intercepts from the MAN Alaska Project
2005 drill program
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From Interval
Hole (m) To (m) (m) Ni% Cu% Co% Pt g/t Pd g/t Au g/t
------- ------ ------ -------- ---- ---- ---- ------- ------ ------
MAN05-1 103 135.64 32.64 0.31 0.14 0.02 0.12 0.07 0.04
incl. 115 117 2 0.50 0.23 0.03 0.23 0.12 0.06
MAN05-6 358 370 12 0.27 0.06 0.02 0.04 0.01 0.02
incl. 361 362.5 1.5 0.39 0.05 0.03 0.02 0.01 0.019
MAN05-8 150 151 1 0.97 0.14 0.03 0.01 0.01 0.01
incl. 150.44 150.66 0.22 3.22 0.38 0.09 lt 0.01 0.04 0.01
------- ------ ------ -------- ---- ---- ---- ------- ------ ------
Ni=Nickel, Cu=Copper, Co=Cobalt, Pt=Platinum, Pd=Palladium, Au=Gold, lt=less than
Drill hole 6 was drilled to test strong multi-element geochemical anomalies at the west end of the embayment feature tested by drill hole 8. Assay results (Table 1) include 0.27% Ni and 0.06% Cu over 12 metres (40 feet) from 358 metres (1180 feet), including 0.39% Ni and 0.05% Cu over 1.5 m (5 feet).
Drill hole 1 was drilled in the footwall to the Tres Equis massive sulfide showing (6.7% Ni, 1.0% Cu, 1.5 g/t PGE) and encountered disseminated sulfide mineralization (Table 1). Anomalous results include 0.31% Ni, 0.14% Cu and 0.2 g/t PGE over 33 metres (109 feet) from 103 metres (340 feet) depth, including 0.50% Ni, 0.23% Cu and 0.4 g/t PGE over 2 metres (7 feet).
Nevada Star is strongly encouraged by the results of the 2005 drill program. In particular, the results for drill hole 8 are important for two reasons. First, they revealed the presence of a previously unknown massive sulfide zone at depth below a major sulfide gossan (the Ravine Gossan). Second, at 12% Ni, this massive mineralization is much higher in Ni content than that farther west in the Fish Lake Complex at the Tres Equis sulfide showing (7% Ni), and similar in Ni content to massive sulfide showings 26 km (16 miles) to the northeast in the Canwell Complex (up to 15.4% Ni; see press release dated March 17, 2005). Additionally, the results for drill hole 1 suggest the presence of a disseminated sulfide zone in the footwall to the Tres Equis showing. Overall, the 2005 drilling results, combined with historical drilling and exploration results, suggest the presence of several diffuse km-scale zones of weak disseminated sulfide mineralization within the Fish Lake Complex. This low grade mineralization could provide a vector to structural traps within which high-grade massive sulphide deposits, the focus of the ongoing exploration program, may have formed. In August, AAEUS completed a follow-up program consisting of ground EM, ground magnetic, soil geochemical and geological surveys. This work was completed in order to develop and refine targets for an anticipated spring 2006 drill program (see press release July 14, 2005). The results of the August program will be released pending quality assurance-quality control assessment by AAEUS.
Dr. William Stone, P.Geo, the Company's Qualified Person under National Instrument 43-101, is responsible for the technical information contained in this release.
About the MAN Project
Nevada Star Resource Corp's 2000 square km (800 square mile) Alaskan project, officially called the MAN Alaska Project, is located between the cities of Fairbanks and Anchorage, in south-central Alaska. The Project is supported by a solid infrastructure: it is accessible from two paved highways and borders the Alaska Pipeline. Exploration by Nevada Star began in 1995. Results to date indicate that the MAN Alaska Project has the potential for a major discovery of nickel, platinum-group elements, and gold, metals which are in high-demand but in short supply globally, especially as the supply from Noril'sk in Russia diminishes.
The MAN Alaska Project consists of three distinct project areas: (1) Fish Lake-Dunite Hill Ni-Cu (PGE) area (Area 1), (2) Canwell-Rainy-Eureka-Summit Hill Ni-Cu (PGE) area (Area 2), and (3) Broxson Cu-Au area (Area 3). View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas.
Area 1 of the MAN Alaska Project is under joint venture with Anglo American Exploration (USA), Inc. ("AAEUS"). AAEUS is a wholly owned indirect subsidiary of Anglo American plc, a global leader in the mining and natural resource sector. They are performing an exploration program pursuant to its joint venture agreement with Nevada Star. Under the terms of the agreement, AAEUS can earn a 51 percent interest in Area 1 of the MAN property by spending a total of US $12 million by July 2008. AAEUS has the right to increase their interest by an additional 19 percent by completing a feasibility study and an additional five percent by arranging production financing for both AAEUS and Nevada Star. AAEUS began its exploration program in September 2003.
About Nevada Star Resource Corp
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 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.