Progress Report On Prospective Swedish
Uranium and Thorium Licences

The Board of All Star Minerals Plc ("All Star" or "the Company"), the PLUS-quoted uranium and thorium exploration company, is pleased to provide the following update on its progress.

SWEDEN SAMON LICENCE

On 3rd August 2007, All Star was granted the 28 square kilometre Samon licence, located 20 kilometres North-West of the Jokkmokk municipality. Samon was acquired by the Company as a result of research into the potential for thorium and uranium exploration in Sweden. As a result of the research, the Company identified, registered, and was granted the Samon licence, where a boulder discovered at surface in 1970 returned a grade of 3.5% thorium (35,000 parts per million) and 0.05% uranium (500 parts per million). Other outcrop in boulders in the surrounding area have also displayed high radioactivity, with high readings having been noted in the spring waters. In July 2007 the Company undertook a radiometric survey over Samon, which returned high readings in boulders and in outcrop over white pegmatites, specimens of which were examined at the Natural History Museum. The samples were found to have clusters of monazite crystals throughout, which contain phosphates of cerium, thorium and yttrium.

GILPAS LICENCES

On 8th August 2007, the Company announced that it had registered the Gilpas Number 1 licence area in Northern Sweden, located 40 kilometres North-East of the Arjeplog municipality, in the Norbotten County. Gilpas Number 1 covers 12 square kilometres and was granted on 14th December, 2007. Shortly after having registered Gilpas Number 1, the Company expanded the size of the property, registering Gilpas Number 2, which was granted on 17th December 2007, and covers 39 square kilometres. The two Gilpas licences cover a total area of 51 square kilometres. The Gilpas licences were acquired as a result of the Company's research into the potential for thorium and uranium in Sweden. Two high-grade boulders were discovered at the surface of Gilpas Number 1 in 1980-1981, of which one returned a grade of 29% uranium (290,000 parts per million). The two high-grade uraniferous boulders were located around 300 metres apart on forested ground along the known direction of major ice flow. Gilpas is situated in the Arjeplog Uranium District, which forms the North-Western part of the more extensive Arvidsjaur-Arjeplog-Sorsele Uranium Region. The region includes a series of small uranium deposits that are generally epigenetic and fracture-controlled. The principal uranium occurrence in the Arjeplog Uranium District is that of Pleutajokk, which is situated some 25 kilometres North-West of Arjeplog on the North-Eastern margin of the Hornovan Lake.

KUUSIVAARA LICENCES

On 14th December 2007 the Company was granted the Kuusivaara Number 1 licence, which covers 8 square kilometres. Kuusivaara Number 2, which covers 24 square kilometres, has also been registered by the Company, but is not expected to be granted until February 2008. Kuusivaara is located in the Eastern part of Norbotten Province, between 5 - 20 kilometres from the Finnish border. The prospect area is associated with a small creek flowing in a shallow, northwest-southeast directed valley, which contains thick black organic soils, dense vegetation and is heavily forested. Kuusivaara is known for its radioactive bogs, and, to date, six anomalous areas have been identified, totalling some 4,000 square metres. One peat sample returned a grade of 5.8% uranium (58,000 parts per million), whilst other samples assayed 0.17%, 0.61%, 0.70%, 0.74%, 2.10%, and 3.76% uranium. A recent site visit to Kuusivaara saw a reading of over 2,000 counts per second recorded on the scintillometer in one of the bogs, whilst background readings of 25-30 counts per second were recorded in the more boggy areas, which increased to 100 counts per second when there boulders near the surface.

EXPLORATION PROGRAMME

Geochemistry coupled with Electro Magnetic ("EM") and Magnetic ("Mag") geophysics is scheduled to commence on the Gilpas licences in February, with the intention of defining drill targets. The geochemistry will focus on the draining streams in the licence area and a bog that extends upstream directly to a possible source for the uranium boulders. It is possible that the mineralised bedrock could be located at either the side of a stream, or at a shallow depth underneath a stream, leaching uranium into the groundwater in contact with the mineralization. Through sampling and analysis of the bog and the streams the entrypoints of the uranium-bearing groundwaters should be defined. The knowledge of Gilpas' geology has proven that uranium is in solution and that a high-grade bedrock source is near. Gridline EM and Mag ground geophysics will define bedrock structures, which can then be drilled. It is anticipated that the geochemical and ground geophysical exploration will be undertaken in February and March, and that drill targets will be prepared for April/May. Drilling will be dependent upon securing a contractor for this time.

CONRAD WINDHAM, CHIEF OPERATIONS OFFICER, SAID:

"We have developed a good position in Sweden having acquired three properties covering a combined land mass of 111 square kilometres, prospective for uranium and thorium. We believe that we can advance Gilpas quickly, and look forward to exploration commencing next month. A generative programme will be ongoing, so that we can continue to identify prospective uranium and thorium targets in Sweden. We are excited by the three Swedish properties in our exploration portfolio, and look forward to developing them. Additionally, we continue to progress Bullbadger and Errabiddy, our two Western Australian thorium and rare earth properties."

This announcement has been approved by All Star Minerals' geologist, Jan-Ola Larsson.

The Directors of the Issuer accept responsibility for this announcement.

All Star Minerals is a PLUS-quoted Company established to invest in and develop prospective mineable thorium deposits. Thorium (Th), in addition to uranium (U) can be used as a fuel for nuclear power energy. On its own thorium is unable to support a nuclear chain reaction due to it not being fissile, but inside of a reactor the element will absorb slow neutrons to produce uranium-233 (U-233), which is fissile, though virtually useless as a fuel for weapons. Uranium-233 is preferable as a nuclear fuel over uranium-235 (U-235) and plutonium-239 (Pu- 239), due to its higher neutron yield per neutron absorbed. India, for example, is committed to utilizing its large reserves of thorium for its nuclear power energy ambitions. Monazite, the mineral which is a source for thorium, hosts additional rare earth metals, including lanthanum, cerium, yttrium, and samarium, which, upon separation, can be used for commercial application.