LIGHTBRIDGE Corp — Director's Dealing 2006

Nov 4, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Thorium Power, Ltd (THPW.OB)
CIK: 0001084554
Period of Report: 2006-10-06

Reporting Person: GRAHAM THOMAS JR (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-06	Common Stock, $0.001 par value	J	1025753	—	Acquired	1215753	Direct
2006-11-01	Common Stock, $0.001 par value	P	50000	$.30	Acquired	1265753	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-06	Compensatory Stock Option	$.39	J	2562780	Acquired	2007-01-31	Common Stock (2562780)	Direct

Footnotes

F1: Mr. Graham held an aggregate of 40,025 shares of Thorium Power Inc. prior to a merger between Thorium Power Inc and Novastar
Resources Ltd (now Thorium Power Ltd.). Pursuant to the merger agreement, each share of Thorium Power Inc. was converted
into 25.628 shares of Novastar Resources Ltd. Accordingly, on October 6, 2006, Mr. Graham received 1,025,753 shares of the
issuer's common stock as merger consideration

F2: Mr. Graham held an aggregate of 100,000 compensatory stock option (exercise price of $10) of Thorium Power Inc. prior to a
merger between Thorium Power Inc and Novastar Resources Ltd (now Thorium Power, Ltd.). Pursuant to the merger agreement,
each option of Thorium Power Inc. with a exercise price of $10 was converted into 25.628 options of Novastar Resources Ltd.
with a exercise price of $0.39 Accordingly, on October 6, 2006, Mr. Graham received options to purchase 2,562,780 shares of
the issuer's common stock at $0.39 per share as merger consideration.