Nevada Star Resource Corp.
OTC Bulletin Board : NVSRF

Nevada Star Resource Corp.

October 18, 2005 08:00 ET

Palladon Ventures Ltd. Announces Completion of a Resource Study on Nevada Star Resource's Milford Utah Copper Property

SEATTLE, WASHINGTON--(CCNMatthews - Oct. 18, 2005) - Nevada Star Resource Corp. (TSX VENTURE:NEV)(OTCBB:NVSRF) ("Nevada Star") is very pleased to report that Palladon Ventures Ltd (TSX VENTURE:PLL) has filed a National Instrument 43-101 technical report updating a previous feasibility study that Nevada Star funded on its Milford Utah Copper Property. A copy of the Palladon report can be found on the SEDAR website by using the following link:
CDATA%5CSEDAR%5Cpalltech.pdf (Due to the length of this URL it may be necessary to copy and paste it into you web browser)

Resource Estimate

Mine Development Associates (MDA) prepared a resource estimate in 1998 as part of a feasibility study completed for Nevada Star. Table 1 below is a summary of the Indicated Resources that were calculated in the 1998 study. Indicated Resources consist of those blocks within the mineralized boundaries that are sufficiently close to sampled drill holes for Cu grade estimation. Blocks within the mineralized boundaries that are too far from data to be estimated are classified Inferred. Indicated material above a cutoff grade of 0.40% Cu was used as the basis for reporting resources. The 0.40% Cu cutoff was the approximate breakeven cutoff for the 1998 feasibility study, using a US $1.05/lbs copper price. Copper is presently trading at US $1.80 per pound.

Table 1 Indicated Resource

Cutoff Tons (000) Total Cu
Deposit Cu% in Zones Cu% Pounds (000)
Hidden Treasure 0.40% 856 1.79% 30,663
0.60% 828 1.84% 30,398
1.00% 7,775 1.90% 29,500
Maria 0.40% 614 1.25% 15,397
0.60% 569 1.31% 14,937
1.00% 417 1.49% 12,404
Copper Ranch 0.40% 322 1.13% 7,313
0.60% 293 1.20% 7,010
1.00% 195 1.40% 5,461
OK Mine 0.40% 1,318 0.75% 19,770
0.60% 724 0.97% 14,046
1.00% 268 1.32% 7,075
Totals 0.40% 3,110 1.18% 73,141
0.60% 2,413 1.38% 66,390
1.00% 1,655 1.64% 54,440

Western Utah Copper Company ("WUCC") has informed Nevada Star that a revised NI 43-101 technical report is in process by Palladon which will be based on today's copper prices and that the revised NI 43-101 technical report will increase the size of the reported Indicated Resource.

WUCC has also informed Nevada Star that it has submitted, to the State of Utah, all of the necessary information to receive the final mining permits, after which WUCC plans to start plant construction. WUCC plans to be in production by early 2006.

About the Milford Utah Copper Property

The Milford Utah Copper Property consists of 55 patented mining claims, 232 unpatented mining claims, five Utah state leases, and 93 acres of fee land, aggregating approximately 7,000 acres. The Milford Utah Copper Property lies approximately 10 miles northwest of the town of Milford in Beaver County, Utah.

Nevada Star carried out extensive drilling on the claims in 1998 and commissioned a feasibility study that year. The results of the study were positive for the production of up to 73 million pounds of copper over a 5-year production life. However, due to low copper prices at that time (US $0.60 a pound) the anticipated plant and production facilities were never constructed and the claims were not put into production.

In November 2003, Nevada Star optioned the property to Western Utah Copper Company ("WUCC") for royalty payments of up to US $10 million. Under terms of the agreement, WUCC has three years to put the property into production or return the property to Nevada Star. WUCC will pay Nevada Star 1 percent of net proceeds from the first 10 million pounds of copper produced, 1.5 percent of net proceeds on all copper produced thereafter, and 2 percent of net smelter proceeds on all other minerals produced. Total royalties are capped at US $10 million.

Effective November 19, 2003, as a part of a JV Agreement between Palladon and WUCC, Palladon acquired from WUCC an option for a 65% working interest in the Milford Utah Copper Property by updating the Nevada Star feasibility study (which had the previously identified Indicated Resource) and by expending up to US $4 million over a five year period. The deposits and lands thereby subject to this option include the Sunrise, Maria (including Maria Northwest Extension and Maria Southeast Extension), Hidden Treasure, Hidden Treasure Northwest Extension, Copper Ranch Hill, Copper Ranch Flat, OK, and Mary I.

About Nevada Star Resource Corp

Nevada Star Resource Corp. is a mineral exploration company that uses 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 Corporation and Western Utah Copper Company, respectively. Both properties are scheduled to go into production in 2006. A portion of the Alaska property is under joint venture with Anglo American Exploration (USA), Inc. For more information, including maps, photos and project descriptions, visit:

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.

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