Nevada Star Resource Corp.
OTC Bulletin Board : NVSRF
TSX VENTURE : NEV

Nevada Star Resource Corp.

March 27, 2007 15:48 ET

Nevada Star Resource Corp. Shareholders Approve Amalgamation and Reverse Take Over Transaction With Pure Nickel Inc.

SEATTLE, WASHINGTON--(CCNMatthews - March 27, 2007) - Nevada Star Resource Corp. (TSX VENTURE:NEV)(OTCBB:NVSRF) - Robert Angrisano, President and CEO of Nevada Star Resource Corp. ("Nevada Star") announced today the results of the Special Meeting of Shareholders of Nevada Star Resource Corp. as well as other corporate business including the proposed appointment of company directors and officers.

Results of Nevada Star Resource Corp. Special Meeting of Shareholders

At the Special Meeting of shareholders held today in Bellevue, Washington, the following three resolutions tabled at the meeting 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 a 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.

Jay Jaski, Chairman and CEO of Pure Nickel, stated, "We are very pleased to have the Nevada Star shareholders backing the amalgamation and reverse take over transaction and we are confident that the new company, Pure Nickel, will be strategically positioned to become a premier nickel company with our portfolio of advanced stage exploration projects."

Appointment of Directors and Company Officers

In conjunction with the closing, the Board will appoint four new Directors to the company replacing six resigning Board members. The resigning Board members are: Donald Bosnick, John Mears, Rodney Blakestad, Michael Sharon, Richard Graeme and Edward Waale. The newly appointed Board members will be J. Jay Jaski, Steve Vaughan, Harry Blum, and David McPherson. Furthermore, Monty Moore and Robert Angrisano will resign as Chairman and President and CEO, respectively, and the Board will appoint Dale Hull as Chief Operating Officer, Jay Richardson as Chief Financial Officer, and J. Jay Jaski as President and CEO. J. Jay Jaski will also be elected Chairman of the Board.

Stock Option Grants

During the Board Meeting, directors of Pure Nickel approved the granting of 2,225,000 stock options to directors, officers and service providers at an exercise price to be approved by the TSX Venture Exchange for a term of three years.

The TSX Venture Exchange has approved the use by Pure Nickel of the new symbol "NIC" and Pure Nickel will also trade on the OTC under the symbol NVSRF on a consolidated basis.

Pure Nickel's 2007 exploration program will be fully funded with the proceeds from Nevada Star's CDN $9 million private placement being released from escrow and deposited into the new company. With the closing of the amalgamation and the financing, Pure Nickel will have 43.65 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 well funded and drill ready.

Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. For more information, including maps, photos and project descriptions, visit www.nevadastar.com.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the security of Nevada Star should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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