BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2006

Sep 24, 2006

Announcement to the ASX Monday 25 September 2006

NEW GOLD FIND

A1 Minerals' (A1) geological modelling has been confirmed by a new gold find north of Laverton on the BrightStar Gold Project.

High grade gold mineralisation found by rock-chip sampling occurs over a 400 metre strike length and is open in both directions.

As yet the full length and width of mineralisation is unknown. This new find is based, in particular, on three rock-chip samples taken at approximately 200 metre intervals along a ferruginous ridge trending west northwest; assaying 20.1g/t gold, 1.2g/t gold and 17.1g/t gold. The results are not isolated as nine anomalous rock-chip assays (0.1 to 0.43 g/t) were obtained in the vicinity (within 1 kilometre).

The new find is approximately 2 kilometres from A1's existing JORC resource at Epsilon and was selected for its prospectivity from A1's geological model. The gold occurrence is geologically supported by the presence of a disrupted banded iron formation (BIF) unit. It appears to align on a cross structure which already hosts two gold deposits. Any resources resulting from the new find will combine with Epsilon which currently totals more than 180,000oz.

The gold find is within the recently acquired West Australian Metals (WME) tenements that have been incorporated into the BrightStar Gold Project (Figure 1). A1's exploration team has developed an in-house geological model for targeting mineralisation in the area. This new gold find is confirmation of the model and re-affirms the Company's acquisition strategy.

More sampling and geological mapping is underway to explore the extent of surface mineralisation in preparation for drilling.

Ground Holdings Expanded at Epsilon

A1 has also expanded its ground holdings by consolidating the area around BrightStar Epsilon (Figure 1)

A 50sqkm area was acquired in separate deals with three local prospecting groups for a combined consideration of 600,000 ordinary fully paid A1 shares at an issue price of 25 cents per share. The vendors have agreed to voluntarily escrow for 12 months. The Company will not seek shareholder approval for this transaction. The Company will issue and apply for quotation of the shares on completion of the acquisition.

The latest acquisition includes the high grade Ogilvies Mining Centre containing a prolific 43 shafts over 2 kilometres. There has been very little modern exploration around these old workings. A1 sampled the mineralised material from the shafts which have returned an average of 10.8g/t gold with a best result of 80g/t gold. The high grade results concur with historic production records showing an average of 29g/t gold.

The BrightStar Gold Project is in a world class gold belt. The greenstone belt north of Laverton is poorly explored. It is a continuation of rocks and structures from the south where the huge Sunrise Dam and Wallaby gold mining operations exist. A1 believes the potential for discovering multi million ounce deposits north of Laverton, is equal to that in the south.

John Williams B.Sc, MAusIMM Managing Director

The information in this report is based on information compiled by Mr Tony Ryall, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Ryall is self employed and 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 (JORC Code). Mr Ryall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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