BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2004

Nov 22, 2004

Announcement to the Australian Stock Exchange

23 November 2004

For Immediate Release

HIGHLIGHTS

REVERSE CIRCULATION DRILL HITS AT BRIGHTSTAR CONFIRM MORE $\bullet$ HIGH GRADE GOLD AT DEPTH

♦ BEST RESULTS FROM LATEST RC DRILLING INCLUDE:

6 metres @ 5.8g/t from 190 metres (including 2 metres @ 11.2g/t) 6 metres @ 3.3a/t from 115 metres 2 metres $@$ 4.4g/t from 148 metres 2 metres @ 4.0g/t from 148 metres

ROTARY AIR BLAST/AIR CORE DRILL PROGRAM COMMENCES ON NEWLY ACQUIRED BRIGHTSTAR/PLACER TENEMENTS

* PROGRAM AIMS TO TEST THE EXTENSION OF THE BRIGHTSTAR DISCOVERY ZONE (BDZ) TO A POSSIBLE 2 KILOMETRES OR MORE OF STRIKE LENGTH WITH POTENTIAL TO SIGNIFICANTLY INCREASE THE SIZE OF THE BRIGHTSTAR DISCOVERY ZONE.

REVERSE CIRCULATION DRILLING

The latest RC drilling program at A1's BrightStar Discovery Zone (BDZ), some 40 kilometres southeast of Laverton, continues to intersect high grade gold at depth. Most of the recent drilling was directed at the main mineralized zone which plunges shallowly to the north- west.

This latest drilling successfully confirms the continuity of deep primary gold mineralisation which is unaffected by supergene processes, further confirming the robustness of deep gold mineralisation.

BrightStar Project: Significant RC Drilling Results October - November 2004

Section No.	Hole No.	Intercepts		Comments
		From	interval
	MMC 127
20260N 20340N	MMC 128	148m 148m	2m @ 4.0g/t Au	Testing beneath supergene intercepts
20425N	MMC129	138m	2m @ 4.4 g/t Au 3m @ 1.9g/t Au
20500N	MMC 130	127m	2m @ 1.5g/t Au
20550N	MMC 131	190m	6m @ 5.8g/t Au	Main mineralised zone
	inc.	194m	2m @ 11.2g/t Au
20660N	MMC 132	115m	6m @ 3.3g/t Au	Main mineralised zone
	inc.	116m	3m @ 5.2g/t Au
20710N	MMC 133	150m	2m @ 1.7g/t Au	Testing upper extent of main mineralised zone

RAB/AC DRILLING

The Company has also commenced RAB and Aircore drilling on it's newly acquired BrightStar / Placer tenements to test the highly promising extension of the BDZ over 2 kilometres or more of strike length.

Previously announced RC drill results in this area include 5m @ 4.9g/t. This is only one small, albeit exciting, part of a 54 square kilometre tenement package included in the acquisition.

The Directors anticipate releasing more results before the commencement of the holiday season.

John Williams B.Sc. MAusIMM Managing Director

The geological information in this report as it relates to mineral resources and ore reserves is based on information compiled by A1 Minerals Limited Managing Director Mr John Williams, who has over 20 years experience in the mining industry and is a member of the Australasian Institute of Mining and Metallurgy.