BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2007

May 28, 2007

ASX RELEASE TUESDAY 29TH MAY 2007

Significant Resource Found at BrightStar Zeta

Recent drilling and geological review of previous data at A1 Minerals 100% owned BrightStar Zeta prospect has found a significant resource of 287.460 ounces.

The resource is made up of two components; a high grade component consisting of 77,300 tonnes @ 6.5q/t; and additionally there is a low grade component of 7.3million tonnes averaging 1.1g/t for 270,000 ounces.

The low grade component is an Inferred resource and appears as broad gold mineralised zones up to 200 metres in width occurring contiguously over much of the 7 kilometre strike length of the tenement. Gold mineralisation controls are northerly striking structural contacts most specifically found where there is a competency contrast between rock types such as diorite, basalt or ultramafic rocks. The majority of gold mineralisation identified to date appears in saprolitic oxide which was drilled on average to 80metre depths. The resource is highly encouraging for further potential at depth.

The high grade component is an Indicated resource and a direct down dip extension of mined high grade ore underneath the very high grade 20 metre deep Anchor Pit which produced a reported 29,000t @ 25.8q/t in 2001. Drilling indicates there is potential for additional high grade deposits along strike. For example 500m to the north of the Anchor Pit there is a drill intercept of 8m @ 45q/t; and 2 kilometres to the south of the Anchor Pit is a drill intercept of 6m @ 35.6q/t. Further drilling could possibly extend these high grades.

We are assessing the likely positive impact of this new high grade resource on the BrightStar feasibility study currently underway.

The Zeta prospect is only 2 kilometres south of the recently reported 1+ million ounce Moolart Well deposit owned by Regis Resources Ltd.

Geological studies will continue at Zeta as a priority.

A1 is currently compiling an updated global resource statement which includes further resource increases at BrightStar Epsilon and Eta to be released shortly.

John Williams B.Sc, MAusIMM Managing Director

The information in this report that relates to mineral exploration is based on information compiled by Mr Tony Ryall who is a member of the Australasian Institute of Mining and Metallurgy. Mr Ryall is a self employed independent geological consultant. Mr Rvall 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 exploration results based on the information in the form and context in which it appears.

Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email info@a1minerals.com.au Website www.a1minerals.com.au ABN 44 100 727 491