International Taurus Resources Inc.

International Taurus Resources Inc.
Fairstar Explorations Inc.

Fairstar Explorations Inc.

March 24, 2005 18:10 ET

Bonanza, Taurus and Fairstar Shareholders Approve Merger and Fenelon Acquisition with Resounding Shareholder Support


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AMERICAN BONANZA GOLD MINING CORP.

TSX VENTURE SYMBOL: BZA

AND INTERNATIONAL TAURUS RESOURCES INC.

TSX VENTURE SYMBOL: ITS

AND FAIRSTAR EXPLORATIONS INC.

TSX SYMBOL: FFR

MARCH 24, 2005 - 18:10 ET

Bonanza, Taurus and Fairstar Shareholders Approve
Merger and Fenelon Acquisition with Resounding
Shareholder Support

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2005) - AMERICAN
BONANZA GOLD MINING CORP. (TSX VENTURE:BZA) ("Bonanza"), INTERNATIONAL
TAURUS RESOURCES INC. (TSX VENTURE:ITS) ("Taurus") and FAIRSTAR
EXPLORATIONS INC. (TSX:FFR) ("Fairstar") are pleased to announce that
the shareholders of each of the companies, at shareholders meetings held
today, have approved by the requisite special majorities the two
statutory Plans of Arrangement for the merger of Bonanza and Taurus to
form New Bonanza as well as the consolidation of the Fenelon gold
project ownership through the acquisition of Fairstar's Fenelon
interests by New Bonanza.

The Arrangements were originally announced on November 23, 2004 with a
formal arrangement agreement reached Dec 21, 2004. With requisite
shareholder approvals now in-hand, there remain only two judicial
fairness hearings set in the British Columbia Supreme Court, 800 Smythe
Street, Vancouver on Tuesday, March 29, 2005 to obtain final orders of
the Court approving both Arrangements. Completion of the Arrangements
remains subject to certain other customary closing conditions all of
which are expected to be completed by March 30, 2005 and accordingly
shares of the "New Bonanza" successor company, named "American Bonanza
Gold Corp.", are expected to commence trading on the Toronto Stock
Exchange at the opening on Thursday March 31, 2005 under the symbol BZA.

The Arrangements provide for New Bonanza to acquire Fairstar's 38%
interest in the high grade Fenelon project in Quebec and its other Casa
Berardi properties in exchange for 6.5 million New Bonanza shares and
$300,000. It is anticipated that the trading of the shares of Bonanza
and Taurus will be halted from trading on the TSX Venture Exchange at
the close of business on Tuesday, March 29, 2005, and upon the
Arrangement being completed as scheduled on Wednesday, March 30, 2005,
these two companies will then be de-listed from the TSX Venture Exchange
concurrently with their merger into New Bonanza.

Registered shareholders of both Bonanza and Taurus who hold their shares
outside of brokerage accounts will receive letters of transmittal
instructing them how to obtain certificates for New Bonanza shares while
shareholders whose Bonanza and Taurus shares are held in brokerage
accounts will automatically have their shares exchanged for them.
Fairstar expects to complete the distribution to its shareholders of the
6.5 million New Bonanza shares that it will receive for its Fenelon
interests during the first week of April.

Brian Kirwin, President and CEO of Bonanza, stated today: "We are very
pleased that with very high voter turnout, the shareholders of the three
companies have overwhelmingly agreed with management and the Boards of
Directors concerning the benefits of this merger and transaction by
voting 98% in favour of the Plan of Arrangement."

Bonanza, Taurus and Fairstar have jointly agreed to appoint the
following officers for New Bonanza:

Brian Kirwin as the President and Chief Executive Officer;

Giulio T. Bonifacio, Executive Vice President, Chief Financial Officer;

Joe Kircher, Vice President, Chief Operating Officer;

Dr. William Bird, Vice President, Canadian Operations.

The Board of Directors of New Bonanza will consist of Brian Kirwin,
Giulio T. Bonifacio, Robert McKnight, Ronald Netolitzky, Don Lay, Jim
Bagwell and Carl Ravinsky. Additionally, both Ian Telfer, a current
advisor to the Board of Bonanza, and Robert Blakestad, a current
Director and past-President of Taurus, have agreed to join the advisory
board of New Bonanza.

The merger and the Fenelon property ownership consolidation will create
a dynamic new gold company with the following highlights;

- It creates a fast-track approach to forging a more powerful, mid-tier
gold company;

- It will have near term high-grade gold production potential at the
Copperstone project in Arizona with a planned production decision in
2005;

- It will have near term production growth potential through the
development of the high grade Fenelon gold project in Quebec and the
large Taurus gold project in British Columbia;

- It will have a host of high-quality North American gold exploration
properties, to provide additional opportunities for profitability in all
gold market price cycles;

- The new company will be well financed at the time of the merger, and
it will have access to major additional funding sources;

- It will have a complete, competent technical and corporate management
team with experience in exploration, mine development and finance;

- It will meet requirements for coverage by major analysts, investment
by major institutions, and will be listed on the Toronto Stock Exchange,
which will greatly expand market awareness; and,

- It combines the various Fenelon interests into a more substantial
entity and settles the current Taurus-Fairstar litigation.

For additional information about Bonanza, including a video interview
with the CEO, Brian Kirwin, visit www.americanbonanza.com.

AMERICAN BONANZA GOLD MINING CORP.

Brian Kirwin, President and Chief Executive Officer

INTERNATIONAL TAURUS RESOURCES INC.

Dr. William Bird, President and Chief Executive Officer

FAIRSTAR EXPLORATIONS INC.

Mr. Larry Nachshen, Chairman

This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, including the likelihood of commercial
mining, possible future financings are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include unsuccessful
exploration results, changes in metals prices, changes in the
availability of funding for mineral exploration, unanticipated changes
in key management personnel and general economic conditions. Mining is
an inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements. For
more information on the Company and the risks and challenges of its
business, investors should review the Company's annual Form on 20F
filing with the United States Securities Commission and its home
jurisdiction filings that are available at www.sedar.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    American Bonanza Gold Mining Corp.
    Giulio T. Bonifacio
    (604) 699-0023
    www.americanbonanza.com
    or
    International Taurus Resources Inc.
    Wayne Marsden
    Toll Free: 888-827-6611
    or
    Fairstar Explorations Inc.
    George Tooley
    (514) 695-8080
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.