NEW YORK--(BUSINESS WIRE)--Aug. 11, 2005--Novastar Resources Ltd. (OTCBB: NVAS) has announced a $500,000 private placement to strengthen its balance sheet and enable the Company to complete the acquisition of several United States based Thorium properties and stockpiles . In addition this financing enables Novastar to organize the Company's business to prepare for Stage 2 financing at a later date. Participants in this private placement will be private accredited investors. The Company anticipates the private placement to formally close within 30 days business days.
The securities offered have not been and will not be registered and may not be offered for sale or sold in the U.S. without registration or an applicable exemption from registration
About Novastar Resources
Novastar Resources, Ltd. is a publicly traded company within the commercial mining sector and is a significant commercial mining source of Thorium. The company's stock is traded and quoted on the OTC Bulletin Board under the symbol NVAS. Further information is available on the company's website at www.novastarresources.com.
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