BRIGHTSTAR RESOURCES LIMITED — Share Issue/Capital Change 2004

Jun 16, 2004

17 June 2004,

The Manager Company Announcements Australian Stock Exchange Sydney, NSW

Dear Sir / Madam.

RELEASE OF RESTRICTED SECURITIES

The Directors wish to announce that on 30 June 2004 1,533,334 ordinary shares are due for release from escrow. On receipt of the relevant confirmation letter from ASX, the Company will instruct its share registry to take the appropriate action.

Application will be made to ASX by the Company for these shares to be quoted in accordance with the listing rules.

Following the release of these shares from escrow a balance of 14,682,974 ordinary shares will remain subject to restriction agreements.

Yours faithfully,

Mark Pitts Company Secretary