Stellar Pacific Ventures Inc.

Stellar Pacific Ventures Inc.

October 10, 2006 16:00 ET

Stellar Pacific Ventures Inc.: 10.43 g/t Au Over 1.0 M. Intersected at Vassan Property

MONTREAL, QUEBEC--(CCNMatthews - Oct. 10, 2006) - Stellar Pacific Ventures(TSX VENTURE:SPX) is pleased to release the first results of its limited fall drilling program on the Vassan property. The company intersected the Hamelin Zone in hole V2006-12, between 583.33 and 584.33 meters, precisely where it was interpreted to be located. This 1 m interval returned 10.43 g/t Au, 6.6 g/t Ag and 0.64% Cu. The structure was intersected approximately 50 m east of the interval obtained in hole AB98-01 which returned 16.4 g/t Au over 1 m and 7.55 g/t Au over 1.10 m in 1998.

This is exciting news for the company since it confirms the depth extension of the Hamelin structure. Furthermore, it also confirms that the ultramafic unit could be a good host for gold mineralization. This opens new exploration ground since the company's effort has been aimed at exploring the mafic units almost exclusively. This hole also returned a value of 1.02 g/t Au over 0.62 m between 512 and 512.62 and a particularly interesting value of 5.5% Zn over 0,75 m in a exhalite horizon between 177.33 and 178.05 m. This exhalite offers excellent base metal exploration potential at limited depth. Hole V2006-11, drilled about 50 m to the west of V2006-12, failed to intersect the Hamelin structure but did intersect the zinc rich exhalite horizon. Zinc assays are pending. A third hole has just been completed but all assays are pending. The latter was collared 50 meters east of V2006-12.

The company is confident that its recently released resource calculation on Vassan (early October) will be positively influenced by those results.

Stellar Pacific Venture Inc. is a junior mining exploration company listed on the TSX-V whose primary objective is to develop and bring into production viable gold deposits.

The TSX Venture Exchange has in no way passed on the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

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