All Star Minerals plc
LSE : ASMO

July 17, 2008 03:41 ET

Clarification on Issue of Equity

                                                                                        17/07/2008
                                                                          GB00B12T7004/GBP/PLUS-exn
                                                 
                                       All Star Minerals plc
                                                 
                                 Clarification on Issue of Equity


The  Board of All Star Minerals plc wishes to confirm that the issue of equity announcement on  15
July 2008 was in respect of a loan note that was converted on 25 June 2008 into ordinary shares of
the Company at a small discount to the prevailing market price at the time of exercise.

The Directors of the Issuer accept responsibility for this announcement.

---ENDS---

ENQUIRIES:

ALL STAR MINERALS PLC
ROBERT YOUNG, CHAIRMAN
TELEPHONE: +44 (0) 1353 649 701
EMAIL: B.YOUNG@ALLSTARMINERALS.COM

CORPORATE ADVISERS

ST HELEN'S CAPITAL PLC
BARRY HOCKEN, DIRECTOR
TELEPHONE: 020 7628 5582
EMAIL: BARRY.HOCKEN@STHELENSCAPITAL.COM

Notes For Editors:

All  Star  Minerals  is  a  PLUS-quoted Company established to invest in and  develop  prospective
mineable  thorium deposits. Thorium (Th), in addition to uranium (U) can be used  as  a  fuel  for
nuclear power energy. On its own thorium is unable to support a nuclear chain reaction due  to  it
not  being  fissile,  but  inside of a reactor the element will absorb slow  neutrons  to  produce
uranium-233 (U-233), which is fissile, though virtually useless as a fuel for weapons. Uranium-233
is  preferable  as a nuclear fuel over uranium-235 (U-235), uranium-238 (U-238), and plutonium-239
(Pu-239),  due to its higher neutron yield per neutron absorbed. India, for example, is  committed
to  utilizing its large reserves of thorium for its nuclear power energy ambitions. Monazite,  the
mineral  which  is a source for thorium, hosts additional rare earth metals, including  lanthanum,
cerium, yttrium, and samarium, which, upon separation, can be used for commercial application.

Website:

www.allstarminerals.com

Contact Information

  • All Star Minerals plc