SOURCE: Nevada Star Resource Corp.

February 09, 2006 09:45 ET

Anglo American Exploration (USA), Inc. Commits to a 2006 Drill Program on Nevada Star's MAN Alaska Project

SEATTLE, WA -- (MARKET WIRE) -- February 9, 2006 --Nevada Star Resource Corp. (OTC BB: NVSRF) and (TSX-V: NEV) ("Nevada Star") is pleased to announce that Anglo American Exploration (USA), Inc. ("AAEUS") completed its Fall 2005 exploration program on Area 1 (Fish Lake-Dunite Hill complex area) of Nevada Star's MAN Alaska Project and, based on the encouraging results, has committed to a Spring 2006 drill program to test high-ranking targets.

Anglo American Exploration (USA), Inc. Fall 2005 Program Results

The purpose of the Fall 2005 program was to develop and refine drill targets for a Spring 2006 drill program. The program included:

--  41.5 line km of ground electromagnetics (EM);
--  177 line km of ground magnetics;
--  1,057 soil samples; and
--  17 days of geological mapping and mineral prospecting.
    
Highlights of the ground EM and soil geochemical surveys follow below.

The ground EM surveys were undertaken mainly in three areas of the Fish Lake complex known as Tres Equis, LFF west and Ravine Gossan. The Tres Equis survey was designed to test for the potential of westward extension of the high-grade nickel copper sulfide mineralization (6.7% Ni, 1.0% Cu). The LFF west area EM survey was designed to test the potential for westward extension of the highly conductive anomaly detected during the Winter 2005 program. This anomaly occurs down-dip to the southwest of disseminated mineralization (0.26% Ni, 0.14% Cu over 75 metres) encountered in two holes drilled by INCO in 1996-1997, and may represent increased mineralization in this area. The EM survey results extended the strike length of the conductor to 600 metres and it remains open to the west. The Ravine Gossan EM survey was designed to test extensive soil anomalies located adjacent to the footwall contact of the Fish Lake complex. This location is also the area of the massive sulfide drill intersection from the AAEUS Spring 2005 drill program (see Press Release Sept. 20, 2005).

The purpose of the soil sampling program was to fill gaps and extend coverage of previous sampling programs, confirm strong-multi-element anomalies identified during previous programs, and complete soil sampling over conductive features in the Fish Lake complex. The assay results for the in-fill sampling confirmed that the Ravine Gossan anomaly is the strongest in the AAEUS Joint Venture area tested to date. The results also led to the identification of additional anomalies in the Tres Equis area and elsewhere in the Fish Lake complex and hanging wall rocks.

Proposed Spring 2006 Drill Program

Based on the results of the Fall 2005 program, AAEUS has committed to a Spring 2006 drill program to test geophysical and geochemical anomalies. At this preliminary stage, 10 high-ranking targets have been selected for drill testing. The targets are EM anomalies, multi-element geochemical anomalies, and predicted down-plunge extensions of surface nickel-copper sulfide showings. Details of the drill targets will be released pending final review. Many other targets have been identified by AAEUS and Nevada Star but ground checking is required prior to drill targeting.

The exploration program for Area 1 of the MAN Alaska Project was managed by AAEUS geologist Kevin Wells, P.Geo., a qualified person as defined by National Instrument 43-101.

About the MAN Alaska Project

Nevada Star Resource Corp.'s 725 square km (280 square miles) MAN Alaska Project is located 270 km (160 miles) southeast of Fairbanks and 400 km (250 miles) northeast of Anchorage. Exploration by Nevada Star began in 1995 in this large area, which is characterized by extremely high nickel (up to 15.4% Ni) and precious metals (up to 170 g/t Pt+Pd+Au+Ag) concentrations in surface samples.

Exploration results to date on the MAN Alaska Project indicate potential for significant discoveries of nickel, platinum-group elements, gold and copper.

The MAN Alaska Project consists of three distinct areas: two nickel-copper (PGE) project areas (Area 1 and Area 2) and one copper-gold project area (Area 3). The project areas are accessible from two paved highways. View the project maps at http://www.nevadastar.com/s/MANProject.asp for a breakdown of the project areas.

Area 1, the Fish Lake-Dunite Hill project area is presently under joint venture with Anglo American Exploration (USA), Inc. (AAEUS). AAEUS is a wholly owned 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. Areas 2 and 3 are being explored by Nevada Star and are available for Joint Venture.

Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. In addition to the Alaska property, Nevada Star currently has projects in 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.

Contact Information

  • Nevada Star Contact:
    Robert Angrisano, President
    Nevada Star Resource Corp.
    Phone: 425.467.1836
    Fax: 425.836.2948
    E-mail: rangrisano@nevadastar.com