First Star Resources Inc.

March 24, 2006 09:30 ET

First Star Resources Inc.: Second Stewart Well Planed for Texas

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2006) - First Star Resources Inc. (TSX VENTURE:FRS) is pleased to announce that it has received the following update from the operator on its Stewart property in Goliad County, Texas. The Company and its Syndicate partners have received the AFE (Authorization For Expenditure) to drill the Stewart No. 2 Well at the Stewart Prospect in Goliad County, Texas. A drilling contract has been finalized with Arrow Drilling who will likely commence drilling operations within approximately 60 days.

The Stewart No. 1 well, completed earlier this year and tied in to sales on February 8, 2006, tested an amplitude anomaly identified by the Company's 3D seismic program conducted over the Stewart East property. The Stewart No. 1 Well continues to flow approximately 500MCF of gas per day with no fluids.

The Stewart No. 2 Well will be drilled to a total depth of 5,700' to test the next in a series of Middle Yegua, 3D seismic anomalies located on the Stewart leases. The amplitude in the Stewart No. 2 anomaly is stronger than that encountered in the Stewart No. 1 well, indicating higher porosity, inferring a greater resource.

First Star Resources Inc.

On behalf of the Board

Bill Wishart, Director

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact Information

  • First Star Resources Inc.
    Bill Wishart
    (604) 609-0555 or Toll Free: 1-877-609-0555
    First Star Resources Inc.
    Patrick Forseille, P.Geo.
    (604) 608-0300 or Toll Free: 1-877-609-0555