BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2009

Jun 1, 2009

AUSTRALIAN STOCK EXCHANGE CODE AAM

2 June 2009 ASX ANNOUNCEMENT

Gold plant construction and development update

• Gold plant refurbishment and construction 25% complete

• State Mining Engineer approves mining, environmental approvals awaited

• Development schedule on target for production to commence in December

BRIGHTSTAR GOLD PROJECT

Directors are pleased to report the following update on the progress of the BrightStar Gold Project development which is expected to start producing gold from December at a rate of 30,000oz per annum.

SUMMARISED SCHEDULE FOR BRIGHTSTAR GOLD PROJECT	SUMMARISED SCHEDULE FOR BRIGHTSTAR GOLD PROJECT
JUNE09–JULY09	PLANT REFURBISHMENT
JULY09–SEPT09	ONSITECONSTRUCTION
OCTOBER09	PLANT AND INFRASTRUCTURECOMPLETION
NOVEMBER09	PLANTCOMMISSIONINGAND MINING COMMENCEMENT
DECEMBER09	COMMENCMENTOFGOLD PRODUCTION

CPC Engineering report that the fixed price Plant Refurbishment, Construction and Commissioning Contract is 25% complete. Surface treatment of all tanks has been carried out with the tanks now ready for interconnecting works. Fabrication of the top of tank steelwork has now been finalised. All conveyors are now complete with surface treatment bar handrails and only minor refurbishment works and re-dressing of conveyors remains.

A1 Minerals was notified by the State Mining Engineer of WA Dept of Mines and Petroleum that A1 Minerals’ Project Management Plan has satisfied requirements and grants approval to commence mining operations at the BrightStar – Beta. This approval deals with mining operations including pit design and safety issues. Environmental approval from the WA Dept of Mines and Petroleum to the plant and the tailings dam is yet to be obtained. A1's environmental consultant and tailings dam design engineer are currently engaged in consultations with the Department.

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

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Beta Pit Designs

The BrightStar’s development is currently slightly ahead of schedule and the Board looks forward to reporting to Shareholders further progress as the company heads into gold production before the end of the year.

Attached as ‘Appendix A’ are pictures of some of the items of plant undergoing refurbishment.

Yours sincerely

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John Williams Managing Director - A1 Minerals Limited

BACKGROUND INFORMATION ON A1 MINERALS LIMITED

A1 Minerals Limited (A1) is an emerging Australian gold miner with its 100% owned BrightStar Gold Project currently in development. The BrightStar is situated in the highly prospective Laverton district in the Eastern Goldfields of Western Australia, a frontier for new gold deposits, some of which have become world class mines, including Barrick's Wallaby/Granny Smith and AngloGold Ashanti's Sunrise Dam gold operations. Since successfully listing on the ASX in December 2003, A1 Minerals (ASX: AAM) has grown its assets through prudent acquisition and successful exploration to a total ground holding of more than 2500 square kilometers; JORC Resources of more than 1.7Moz gold including JORC Reserves of more than 150,000oz gold (ASX 21 April 2009); and its own gold treatment plant currently under construction. The Brightstar Gold Project is scheduled to be in production in December 2009 and planned to produce 30,000oz gold per annum for at least 4 years.

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

APPENDIX A

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Tanks before and after surface treatment

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Conveyors during Refurbishment

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

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Mill Feed Bin after Surface Treatment

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Mixing Tank with band and Surface Treatment

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