Nevada Star Resource Corp.

Nevada Star Resource Corp.

March 17, 2005 09:00 ET

Nevada Star Updates Results from 2004 Phase I Canwell Drilling Program on its MAN Alaska Property


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NEVADA STAR RESOURCE CORP.

TSX VENTURE SYMBOL: NEV
OTC Bulletin Board SYMBOL: NVSRF

MARCH 17, 2005 - 09:00 ET

Nevada Star Updates Results from 2004 Phase I Canwell
Drilling Program on its MAN Alaska Property

SEATTLE, WASHINGTON--(CCNMatthews - March 17, 2005) - Nevada Star
Resource Corp. (TSX VENTURE:NEV)(OTCBB:NVSRF) ("Nevada Star") is pleased
to announce encouraging results from detailed follow-up studies of its
Phase I drill program at the Canwell Nickel-Copper Platinum-Group
Element (Ni-Cu-PGE) prospect on the MAN Alaska Project in the Delta
River Mining District, Alaska.

On the strength of combined shallow km-scale soil, magnetics and EM
targets, a six hole 2,275 feet (690 m) reverse circulation drilling
program was completed on the Canwell Ni-Cu-PGE prospect in September
2004. The drilling intersected significant thicknesses of weakly
disseminated sulfide mineralization in the east central part of the
major Canwell Intrusive Complex. Drill Hole CAN0405 has the thickest
intersection, with 550 feet (167 m) of 0.27% Ni, 0.02% Cu, 0.01% Co and
0.15 g/t PGE+Au starting at a depth of 50 feet (15 m) in altered dunite.
Other intersections included 90 feet (27 m) at 0.26% Ni in drill hole
CAN0401, 120 feet (36 m) at 0.20% Ni in CAN0403, 335 feet (102 m) of
0.21% Ni in CAN0404, and 45 feet (14 m) of 0.30% Ni in CAN0406. Detailed
thin-section petrographic studies indicate the presence of trace to
minor amounts of sulfides (up to 1%), mainly pyrrhotite and pentlandite,
intergrown with magnetite and chromite within and at the margins of
serpentinized olivine grains.

"The results are much better than we initially thought," stated Robert
Angrisano, President of Nevada Star. "We wanted to be sure that the
nickel we found in our drilling was potentially recoverable before we
announced the official results."

These thick intersections of weakly disseminated Fe-Ni sulfides at the
Canwell Intrusive Complex are considered to be significant for two
reasons. First, they could indicate the presence of a large disseminated
Ni-Cu (PGE) deposit, possibly like that at the Mt Keith deposit mine in
Western Australia and at Pechenga in Russia. Second, the intersections
could represent a halo of disseminated mineralization that can be
associated with massive Ni-Cu-PGE deposits. Massive sulfides from
surface showings at the Canwell prospect contain up to 15.4% Ni, 3.3% Cu
and 40 g/t PGE+Au+Ag.

Such results warrant a phase 2 drill and exploration program to further
test the validity of these two models for the disseminated Ni-Cu-PGE
sulfide mineralization at the Canwell Intrusive Complex. Additional
laboratory and geochemical studies are underway to determine whether the
mineralization zones intersected in these drill holes could represent a
very large deposit of disseminated nickel sulfides. The results of these
studies will be released as soon as they are complete. The Canwell
prospect area is part of Project Area 4 of Nevada Star's MAN Alaska
Project and is currently available for Joint Venture. Gerald Carlson,
Ph.D., P.Eng. is the qualified person responsible for the technical
information contained in this release.

About the MAN Project

Nevada Star Resource Corp's 271 square mile Alaskan property, officially
called the MAN Alaska, is located 164 miles southeast of Fairbanks and
248 miles northeast of Anchorage Exploration by Nevada Star began in
1995 in this large area characterized by its extremely anomalous nickel
and PGE concentrations.

Exploration results to date on the MAN Alaska property indicate that it
has the potential for a significant discovery of nickel, platinum-group
elements, and gold metals which are in high-demand but in short supply
globally, especially as the Noril'sk supply diminishes.

The MAN Alaska Project, which consists of five distinct project areas:
Canwell, Rainy/ Eureka, Summit Hill, Dunite Hill/Fish Lake, and Broxson,
is supported by a solid infrastructure. It is accessible from two paved
highways and borders the Alaska Pipeline. View the project maps at
http://www.nevadastar.com/s/MANProject.asp for a breakdown of the
project areas.

The southern section (Area 1) of the MAN Alaska property is now under
joint venture with Anglo American Exploration (USA), Inc. (Anglo USA),
who is performing its own exploration program pursuant to its agreement
with NEV. Anglo USA is a wholly owned indirect subsidiary of Anglo
American plc, a global leader in the mining and natural resource sector.
Under the terms of the joint venture agreement, Anglo USA can earn a 51
percent interest in the southern portion of the MAN property by spending
a total of US $12 million by July 2008. Anglo USA has the right to
increase their interest by an additional 19 percent by completing a
feasibility study and an additional five percent by arranging production
financing for both Anglo USA and NEV. Anglo began its field exploration
program in September 2003.

Nevada Star Resource Corp. is a mineral exploration company that uses
the most advanced technology to search for metals that are in high
demand world-wide. Nevada Star Resource Corp. currently has projects in
Alaska, 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
late 2005. 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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Nevada Star Resource Corp.
    Robert Angrisano
    President
    425.467.1836
    425.836.2948 (FAX)
    rangrisano@nevadastar.com