Message #15 From:
Stock News Bot Date: December 19, 2005 03:20:00 AM
NVAS News Novastar Resources Issues Clarification on Status of Core Drilling Contract
NEW YORK--(BUSINESS WIRE)--Dec. 19, 2005--Novastar Resources Ltd. (OTCBB:NVAS), a commercial mining firm engaged in the exploration of Thorium, Platinum Group Metals, and Rare Earth Metals has issued an important clarification about the press release on Friday December 16, 2005. Due to numerous investor inquiries, the Company is clarifying that it has fully paid for the comprehensive core drill program as of today's date. The approximate amount of the payment, for this initial drilling phase, is $150,000 USD. To further prove the valuable reserves on the Alabama concession, future costs are expected to be incurred by the Company. However this first phase of core drilling has been paid in full.
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, a naturally occurring metal that can be used to provide nuclear energy, with non-proliferation, waste, and economic advantages. 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.
Safe Harbor Statement This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives and other forward looking terminology such as "may", "expects", "believes", "anticipates", "intends", "expects", "projects", or similar terms, variations of such terms or the negative of such terms. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
