BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2005

Dec 4, 2005

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005

BRIGHTSTAR RESOURCE DOUBLES TO 600,000 OUNCES GOLD

HIGHLIGHTS:

• Latest RC Drilling Adds 89,000 Ounces
• WME Tenement Acquisition Adds Further 200,000 Ounces
• BrightStar Gold Project Area Now Over 500km²
• WME To Become A Major Shareholder in A1

Implementing its strategy of focussing on finding or acquiring high grade gold resources, A1 Minerals Limited (A1) is pleased to announce the BrightStar Gold Project resource (calculated in compliance with the JORC Code) has almost doubled to over 600,000 ounces through another successful drill campaign at BrightStar Beta and a major tenement acquisition from its Laverton neighbour, West Australian Metals Ltd (WME).

1. BRIGHTSTAR DRILLING RESULTS

Recent reverse circulation (RC) drilling carried out by A1 at BrightStar Beta has significantly increased the resource (JORC compliant) by a further 89,000 ounces gold (Table 1).

The resource increase occurred both along strike north of the Mikado Pit, extending the shallow Inferred resource a further 70 metres, and at depth, where recent RC drilling and geological interpretation has enabled the Inferred resource to be extended to approximately 230 metres depth below surface.

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005

2. EXPANDING THE BRIGHTSTAR GOLD PROJECT

Complementing A1's long term goal of multiple, higher grade gold assets in the multi-million ounce gold producing Laverton District of Western Australia, the Company has entered into an agreement to purchase 100% interest in WME's Laverton gold tenements. These tenements currently report total resources of over 200,000 ounces in both Inferred and Indicated categories (JORC compliant) and expand A1's BrightStar Gold Project area to over 500 square kilometres.

The majority of tenements being acquired from WME are located immediately north of Laverton within economical trucking distance of BrightStar, with reported resources at Ben Hur, Cork Tree Well, King of Creation and Anchor prospects. Most have higher grade components and are open at depth, indicating potential for extensions.

Achieved through an offer of \$100,000 cash and 2.0 million A1 shares to WME, the offer is subject to a 30 day due diligence period by A1, and A1 shareholder approval. WME has agreed to a voluntary six months escrow on the shares and to consult with A1 before a substantial disposal of shares after that date. A1's shareholder meeting is anticipated before the end of January 2006.

3. PRE-FEASIBILITY STUDY AND CONCURRENT DRILLING PROGRAMS

A1's new JORC compliant resource at BrightStar Beta was compiled by Mr Tony Ryall, independent geological consultant to A1 (Table 1).

The current pre-feasibility study is being extended to incorporate the new resources.

Further drilling is planned through to the first quarter 2006, as part of pre-feasibility requirements and to further extend resources.

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 5 DECEMBER 2005

Resource Location		Measured		Indicated			Interred			moal
Lower Cut-Off Grade Au	Resource			Resource			Resource			RESPONSITIONS
	Tonnes	Grade	Ounces	Tonnes	Gradel	Ounces	zto anesz	Grade	VOurteos	Reference	lemn	o mac
		g/t Au			g/t/Aut			GIORNITA			्भावस्य
Total Alpha 1 o/t	178.900	3.81	21.910	311.900	2.68	26.840	631.400	4.20	85,280	.122.200	3.72	134.030
Total Beta 1 g/t (updated)	68.900	4.00	8.860	628,900	3.85	77.830	.064.900	5.24	179,570	.762.700	4.52	266,260
Total Alpha/Beta 1 g/t	247,800	3.86	30,770	940,800	3.46	104,670	1,696,300	4.86	264,850	2,884,900	4.32	400,290
WME resources (various)				1,298,600	2.0	81,800	1,751,000	$2.2\,$	120,000	3,049,600	2.1	201,800
Total	247,800	3.86	30,770	2,239,400	2.59	186,470	3,447,300	3.47	384,850	5,934,500	3.16	602,090

Table 1: BrightStar Gold Project Updated Resource December 2005

John Williams B.Sc. MAusIMM Managing Director

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Tony Ryall, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Ryall is an independent geological consultant and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Ryall consents to the inclusion in the report of the matters based on his information in the form of context in which it appears.

Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017 Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM Email info@a1minerals.com.au website www.a1minerals.com.au ABN 44 100 727 491 : ASX Code AAM : Member of AMEC