Update on the Samon Licence

The Board of All Star Minerals Plc ("All Star" or "the Company") is pleased to provide an update on exploration progress at its 26 square kilometre Samon licence in Sweden, located 20 kilometres North-West of the Jokkmokk municipality. The Samon licence was granted on Monday, 6th August. The Company undertook a radiometric survey over Samon which returned high readings in boulders and in outcrop over white pegmatites. Specimens of the pegmatite outcrop were examined at the Natural History Museum, and were found to have clusters of monazite crystals throughout.

The monazite crystals contain phosphates of cerium, thorium and yttrium. The pegmatite outcrop was taken from the same area as a boulder discovered at surface in 1970 that returned a grade of 3.5% thorium (35,000 parts per million) and 0.05% uranium (500 parts per million). All Star now intends to conduct a radon survey over the area shown to be most radioactive as a result of the radiometric survey. The purpose of the radon survey is to understand the true extent of the pegmatite zone, which been challenging thus far due to the outcrop in the area being limited due to intense forestry. Samon has an excellent infrastructure, being easily accessible by car, using several newly built forest roads that pass through the area.

DR ROBERT YOUNG, CHAIRMAN, SAID:

"We now believe the high thorium values to be related to a pegmatite which contains thorium bearing minerals. We must now find out how big the tonnage of these rocks is. We look forward to announcing further progress on our exploration portfolio shortly."

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.