Mr. Raj Pamnani, International Relations Consultant, for Novastar Resources and Managing Partner, Jina Partners (www.jinapartners.com), a venture capital management firm with a powerful international network of contacts including scientists, politicians, investors, and entrepreneurs, will meet with executives at Indian Rare Earths Ltd. The Company will specifically meet with the Rare Earth Division ("RED") of IREL, which is a chemical plant wherein the mineral monazite produced is chemically treated to separate thorium as an oxide upgrade and Rare Earths elements in composite chloride form.

Mr. Pamnani will also meet with BARC officials for a tour of the design and operation of their Advanced Heavy Water Reactor (AHWR), built for the utilization of a Thorium-based fuel cycle. The AHWR will use thorium-based mixed oxide (MOX) fuel to generate power. Development of thorium-plutonium (Th-Pu) and thorium-uranium (Th-U233) mixed oxide fuels (MOX) was initiated in 2001. This research included the development of indigenous equipment for the production of thorium dioxide powder and trials with uranium dioxide. The design and development of this AHWR will provide research and development support for India's Pressurized Heavy Water Reactor (PHWR) program.

"This trip holds a lot of potential for Novastar, because IREL is well regarded in the field of separating and refining Thorium ore from Monazite and India is fully committed to the utilization of Thorium as a primary energy source," said Pamnani. "During our visit to India, we plan to discuss the potential our Thorium property has for India and highlight the mutually beneficial relationships that can be forged for the sole purpose of exploring Thorium as a viable source of primary energy for India and other countries."

While in India, the delegation from Novastar will focus on:

1 Exploring the possibility of establishing a relationship between India and Novastar Resources

2 Studying IREL and RED and the extensive Thorium mining capabilities, among others, and

3 Formalizing the business relationship and setting up cooperative programs and projects with the Indian government

There is increasing interest in utilizing Thorium as a nuclear fuel because Thorium is a more efficient nuclear fuel and far less radioactive than Uranium. Also, all of the mined Thorium is potentially useable in a reactor, compared with the 0.7% of natural uranium, so some 40 times the amount of energy per unit mass could potentially be made available. Therefore, the Thorium fuel cycle, with its potential for breeding fuel without the need for fast-neutron reactors, holds considerable potential long-term. It is a key factor in the sustainability of nuclear energy.

Organization name: Novastar Resources, Ltd.
Contact Person: Harrison Wise
E-mail: hwise@rubensteinpr.com
Phone: (800) 289 7750
City: New York
Country: USA
Web: http://www.novastarresources.com