LIGHTBRIDGE Corp — Director's Dealing 2006

Aug 7, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: NOVASTAR RESOURCES LTD. (NVAS.OB)
CIK: 0001084554
Period of Report: 2006-07-27

Reporting Person: MUSHAKOV ANDREY (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value	1500000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$0.49	2016-07-27	Common Stock, 0.001 par value (2250000)		Direct

Footnotes

F1: The Common Stock of the Issuer was granted pursuant to an employment agreement between the Issuer and the Reporting Person,
dated as of July 27, 2006. The Reporting Person may not directly or indirectly sell, transfer or otherwise dispose of
$750,000 of such shares for a period of one year and the remaining 750,000 shares for a period of two years.

F2: The option vested with respect to 234,375 shares on July 27, 2006 and thereafter vests in equal monthly installments until
all shares underlying the option have vested. The option immediately and automatically vests in full upon a Change of
Control, the termination of the Reporting Person's employment by the Company without Cause, or the cessation by the
Reporting Person of the Reporting Person's employment at the Company for Good Reason (all as defined in the employment
agreement).