BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2005

Nov 14, 2005

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE TUESDAY 15 NOVEMBER 2005

NARNOO MINERAL SANDS AND URANIUM POTENTIAL

HIGHLIGHTS

• NARNOO EXPANDED TO MULTI ELEMENT PROJECT WITH MINERAL SANDS AND URANIUM POTENTIAL
• ADDITIONAL PROSPECTS FOR GOLD, NICKEL, COPPER AND DIAMONDS $\blacksquare$
• PROJECT SIZE DOUBLED TO 2,000 SQUARE KILOMETRES

NARNOO PROJECT REVIEW

Directors of A1 Minerals Limited (A1) are pleased to announce the acquisition of additional tenements within the Narnoo region, expanding the Project to over 2,000 square kilometres with multi-element potential.

The newly acquired tenements adioin potential uranium occurrences and abut the Kakarook Mineral Sands Deposit (Figure 1).

Additionally, targets for gold, nickel, copper and diamonds have been revealed from an independent consultant's review of the Project.

Narnoo is owned 100% by A1 and is located approximately 250 kilometres east of Kalgoorlie and 30 kilometres southeast of the Minigwal and Lightfoot playa lake systems. The tenements overlap the southern limits of the Archaean Jasper Hills Greenstone Belt and sedimentary rocks of the Officer Basin, which is partly underlain by the Proterozoic Albany-Frazer Tectonic Province.

MINERAL SANDS

Additionally, two of A1's new Narnoo tenements, ELA 28/1595 and 28/1596, straddle potential Eocene and Miocene shorelines in the northwest Eucla Basin and abut tenements covering the Kakarook Mineral Sands deposit (Kakarook). Best result reported from Kakarook by previous explorers is 8 metres @ 2.3% heavy minerals with luecoxenated ilmenite and zircon as prominent constituents.

URANIUM

The recently extended Narnoo Project adjoins tenements covering three uranium occurrences; Ambassador, Shogun and Emperor (collectively called the Mulga Rock Uranium Deposit).

Originally delineated by the Japanese Government's Power Reactor and Nuclear Fuel Development Corporation during the 1980s, Mulga Rock has a published resource of 10.8Mt @ 0.12% uranium (Mulga Rock Uranium and Multi-element Deposits, Officer Basin, WA G B Douglas, C R M Butt and D J Gray, CSIRO Land and Water, CRC LEME 2003).

The newly acquired A1 tenements have the potential to host sandstone "roll-front", lignite and surficial calcrete style uranium deposits. These tenements are also in the vicinity of Paladin Resources' Ponton Project and abut Deep Yellow's Ponton North Project and Crescent Gold's Ethel Hill Uranium Project.

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

Figure 1: Narnoo and Surrounding Tenements

GOLD, BASE METALS AND DIAMONDS

There are several high priority structural targets in the region, where early phase gold exploration is highly recommended (Figure 2). The area is grossly under-explored for massive sulphide nickel deposits and a possible kimberlitic diamond exploration target is recognised. Concepts for the discovery of VMS copper mineralisation and a very large source of groundwater are also identified.

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

Figure 2: Narnoo Gold Targets

CURRENT WORK PROGRAM

Total ground holdings for Narnoo, including applications, now cover nearly 2,000 square kilometres. A current soil sampling orientation program covering 100 square kilometres is close to completion and assays for gold, nickel, copper and uranium are to be processed and interpreted.

In line with A1's policy to increase shareholder wealth, Directors will review various options on how to further advance the highly prospective multi-element Narnoo project.

John Williams B.Sc. MAusIMM Managing Director

The information in this report that relates to exploration results is based on information compiled by Mr John Williams, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Williams is a full time employee of A1 Minerals Limited 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 Williams 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