Nevada Star Resource Corp.
OTC Bulletin Board : NVSRF

Nevada Star Resource Corp.

March 30, 2007 09:00 ET

Nevada Star Resource Corp. Completes Name Change, Amalgamation, Stock Consolidation and Reverse Take Over Transaction With Pure Nickel Inc.

SEATTLE, WASHINGTON--(CCNMatthews - March 30, 2007) - Nevada Star Resource Corp. (TSX VENTURE:NIC)(OTCBB:NVSRF) - Robert Angrisano, former President and CEO of Nevada Star Resource Corp. ("Nevada Star") and continuing member of the Board of Directors and Jay Jaski, Chairman and CEO of Pure Nickel Inc. (Pure Nickel") are pleased to announce the successful completion of the Amalgamation, reverse take over, stock consolidation, and name change to Pure Nickel Inc.

At a Special Meeting of shareholders held in Bellevue, Washington on March 27, 2007, the following three resolutions were approved by a simple majority on the ordinary resolution and at least two-thirds of the votes on the special resolutions:

I. An ordinary resolution approving the issuance of common shares of Nevada Star to the shareholders of Pure Nickel Inc. ("Pure Nickel") pursuant to the amalgamation of Nevada Star and Pure Nickel;

II. A special resolution approving the name change from "Nevada Star Resource Corp." to "Pure Nickel Inc."

III. A special resolution approving the post-Amalgamation consolidation of Nevada Star common shares on the basis of one (1) new common share for every five (5) existing common shares.

In addition Nevada Star requested a new stock symbol for trading under its new name, Pure Nickel, which was approved by the TSX Venture Exchange. The new symbol for TSX Venture trading will be "NIC" effective immediately. The new company name, Pure Nickel will continue to trade on the OTC under the symbol NVSRF.

Shareholders will be contacted and instructed how to exchange their existing share certificates for share certificates of the new company.

On March 15, 2007, Nevada Star closed a private placement (the "Placement") of subscription receipts (the "Subscription Receipts"). Effective March 30, 2007, the Subscription Receipts have been automatically converted into 10,000,000 units (the "Units") of Pure Nickel Inc. without any further action on the part of the subscribers, the Subscription Receipts have been automatically cancelled, and the subscription proceeds held by the escrow agent have been released to Pure Nickel Inc. Each Unit is comprised of a common share and one-half of one share purchase warrant, and each whole share purchase warrant will be exercisable into an additional common share of Pure Nickel Inc. for a period of 18 months thereafter at a price of $1.20 each. The Units are subject to a hold period that expires July 16, 2007. The gross proceeds received by Pure Nickel Inc. from the Placement are $9,000,000.

The Companies headquarters will change from Seattle Washington to Toronto Ontario.

Pure Nickel's 2007 exploration program is fully funded with the proceeds from the Placement. With the closing of the amalgamation and the Placement, Pure Nickel now has 44.76 million shares outstanding and CDN $11.0 million in cash on hand.

Pure Nickel is a mineral exploration company with three advanced nickel sulphide projects located in Canada and Alaska. The Company's $8.0 million 2007 exploration program is fully funded and drill ready.

This release was prepared by management of Pure Nickel Inc. 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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