BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2005

Apr 4, 2005

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE

AMMER

TUESDAY 5TH APRIL 2005

ASX REGISTERED CODE: AAM

A1 DELIVERS BEST GOLD HITS TO DATE FOR BRIGHTSTAR'S HIGHLY PROSPECTIVE NORTHERN EXTENSION

NEW LODE OPEN AT DEPTH AND ALONG STRIKE - FURTHER RC DRILLING PLANNED

MOST SIGNIFICANT WIDE, HIGH-GRADE INTERCEPTS TO DATE FROM NEWLY DISCOVERED NORTH-WEST ZONE, INCLUDING:

9 metres @ 10.21 g/t gold from 37 metres (including 2 metres @ 43.42 g/t) 5 metres @ 14.52 g/t gold from 57 metres (including 1 metre @ 33.5 g/t) 3 metres @ 5.18 g/t gold from 44 metres (including 1 metre at 14.3 g/t)

A1 Minerals Limited has received further positive news with high-grade gold intercepts from a recently completed program of first pass shallow rotary air blast (RAB)/aircore drilling targeting a newly identified north-western extension of the BrightStar Discovery Zone (BDZ). Deeper reverse circulation (RC) drilling is planned to start as soon as possible to test the very prospective extension of this mineralisation, which remains open both at depth and along strike.

The geometry of this new area of the BDZ is similar to the original BDZ at the south-east end, which hosts previously reported intercepts up to 12 metres $@$ 47.7q/t gold. Several shoots have been identified in the new mineralised zone with a shallow northwesterly plunge of approximately 15 degrees; a moderate dip of 60 degrees to the northeast is also apparent. Supergene enrichment has had a flattening effect on mineralisation and there appears to be a zone of depletion in the top 30 metres hiding gold mineralisation from much of the shallower drilling.

Gold content has been found to increase northwards, with the last holes drilled at this end of the shoot returning 9 metres @ 10.21 g/t gold (including 2 metres @ 43.42 g/t) from 37 metres in BSA206 and 5 metres @ 14.52 g/t gold (including 2 metres @ 33.5 g/t) from 57 metres in BSA209 (Table 1). These excellent results, combined with the fact that the shoot remains open along strike and at depth, highlight the significant potential to further extend the BDZ beyond its current 2 kilometre strike length (Figure 1).

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

TABLE 1: BEST DRILL RESULTS FROM LATEST AIRCORE DRILLING

NB: Assays are uncut: all holes drilled vertically

Hole	MGA94	MGA94	From	Тο	Width	Gold
	East	North	(metres)	(metres)	(metres)	(grams/tonne)
NEW NORTHERN END BDZ
BSA193	472218	6822971	11	12	1	5.71
BSA206	472193	6823041	33	35	$\mathbf{2}$	1.27
BSA220	472303	6822900	34	38	4	4.76
			including			7.58
BSA213	472283	6822925	36	38	$\overline{2}$	3.84
			including			6.83
			33	42	9	10.21
BSA206	472193	6823041	including		2	43.42
BSA211	472275	6822914	37	38	1	2.47
BSA261	472152	6822639	41	42	1	3.79
BSA227	472347	6822856	42	44	$\mathbf{2}$	1.48
BSA254	472079	6822741	44	47	3	5.18
			including			14.30
BSA248	472028	6822833	57	58	1	2.67
BSA209	472205	6823041	57	62	5	14.52
			including			33.50

Previously reported intercepts from the new north-western mineralised trend included:

7 metres @ 6.35 g/t gold 7 metres @ 4.15 g/t gold 7 meters @ 3.69 g/t gold 3 metres @ 9.00 g/t gold 2 metres @ 6.84 g/t gold

A second line of gold mineralization, sub-parallel to the one mentioned above, is located approximately 200 metres to the southwest. Currently, there is limited understanding of this occurrence due to deeper weathering at this point and only limited drilling carried out so far. Further work is required to resolve the controls on this mineralisation; however, some good intercepts have been achieved along this line. Best intercepts from the latest drill results from this zone included 3 metres $@$ 5.18 g/t gold (including 1 metre $@$ 14.3 g/t) from 44 metres in BSA254 and 1 metre $@3.79$ g/t from 41 metres in BSA261.

Other results on this lode which were previously reported included 3 metres @ 14.6 g/t gold from 62 metres (RAB) and 2 metres $\omega$ 16.7 $\alpha$ /t gold from 54 metres (aircore).

RC drilling is scheduled for April and May 2005.

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 Managing Director Mr John Williams, who is a member of the Australasian Institute of Mining and Metallurgy, with over 20 years experience in the mining industry.

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

COMPANY OVERVIEW

A1 Minerals Limited controls one of the largest tenement holdings in the highly prospective Laverton District of Western Australia. The BrightStar Gold Project is a new gold discovery by A1 Minerals and is located on the eastern margin of the Laverton Tectonic Zone, a zone that has produced nearly 9 million ounces of gold to 2002, from a resource base of nearly 25 million ounces.

THE BRIGHTSTAR GOLD PROJECT INDICATES:

• ✓ MULTI-MILLION OUNCE POTENTIAL
• $\checkmark$ LOW CAPEX REQUIRED
• $\checkmark$ LOW COST OF PRODUCTION
• ✓ TOLL TREATING OPTION
• $\checkmark$ EXCELLENT METALLURGY WITH ABOVE 98% RECOVERIES EXPECTED

DURING 2004: A1 HAS ACHIEVED THE FOLLOWING:

• $\checkmark$ EXTENDED THE BRIGHTSTAR DISCOVERY ZONE TO 2 KILOMETRES
• √ ACHIEVED EXCELLENT WIDTHS AND GOLD GRADES FROM SURFACE TO 200+METRES DEPTH
• $\checkmark$ INDICATED PROFITABLE OPEN PIT MINEABILITY
• $\checkmark$ NEW LODES AND EXTENSIONS ARE CONTINUALLY BEING DISCOVERED
• $\checkmark$ MINERALIZATION REMAINS OPEN ALONG STRIKE IN BOTH DIRECTIONS AND OPEN AT DEPTH
• ✓ CONSOLIDATED LARGEST GROUND HOLDING ON GREENSTONE BELT
• √ NATIVE TITLE AGREEMENT
• √ MINING LEASE GRANTED AT BRIGHTSTAR

DURING 2005, A1 INTENDS TO:

• $\checkmark$ CONTINUE DRILLING TO EXTEND THE BDZ
• $\checkmark$ GENERATE FIRST RESOURCES STATEMENT WITH A VIEW TO MINE 2006
• $\checkmark$ DRILL NARNOO (large 1000 square kilometre exploration project on the same greenstone belt as BrightStar. The project hosts 6 gold prospects with many kilometres of gold mineralisation).

A1 CONTINUES TO MAINTAIN A CLOSELY TIGHT CAPITAL STRUCTURE TO PROVIDE SHAREHOLDERS WITH LEVERAGE ON EXPLORATION SUCCESS:

45 MILLION ORDINARY FULLY PAID SHARES (30 MILLION TRADABLE AND 15 MILLION ESCROWED TO DECEMBER 2005).

CURRENT MARKET CAPITALISATION APPROXIMATELY \$13.7M.