Message #14 From:
Stock News Bot Date: December 16, 2005 03:20:00 AM
NVAS News Novastar Resources Commences Comprehensive Drilling Program on Alabama Concession
NEW YORK--(BUSINESS WIRE)--Dec. 16, 2005--Novastar Resources Ltd. (OTCBB:NVAS), a commercial mining firm engaged in the exploration of Thorium, Platinum Group Metals, and Rare Earth Metals has today announced the commencement of a comprehensive core drilling program aimed at proving reserves of Platinum Group Metals ("PGM") and Rare Earths. The Company has retained 3 West LLC, an Anniston, Alabama based independent drilling Company.
The drilling program will consist of approximately 14,000 feet of core drills on the 900 acre Platinum Group Metals concession in Alabama, that was previously announced in a press release by the company on November 28, 2005 All of the drilling shall occur within this concession, but will focus on one of the main areas of interest. The core drilling program shall consist of up to 60 drill holes with depths ranging from 200 feet to a maximum of 300 feet.
Dr. Charles Merchant, Novastar Resources Chief Operating Officer expressed, "this is an important step that Novastar Resources is taking because it could position the Company to generate substantial future revenues. We anticipate that there should be encouraging results, as preliminary independent data has demonstrated a strong possibility of significant Platinum Group Metals and Rare Earth reserves."
In other news, Novastar Resources is pleased to announce it has reached an agreement with David J. DiRicco to join the Company as full time in house Investor Relations. Mr. DiRicco has extensive experience in the public markets and is expected to make important contributions to the Company as it increases its exposure to the public.
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.
