ASP Transatlantic Mining Corporation

Archean Star Resources Inc. (TSX VENTURE:ASP) ("Archean" or the "Company")
announces that, subject to acceptance for filing of the final documentation by
the TSX Venture Exchange ("TSX-V"), it has closed its previously announced
non-brokered Private Placement consisting up to 13,000,000 Units at $0.08 cents
per Unit for gross proceeds of $1,040,000.


The proceeds from the financing are to be used for the Gnaweeda Gold Project and
for general and corporate purposes.


Each unit consists of one (1) common share and one (1) non-transferable common
share purchase warrant. Each warrant is exercisable for a period of one (1) year
from closing and will entitle the holder to purchase one additional common share
in the capital stock of the Company at a price of $0.18 per common share. Shares
subscribed for in the private placement are subject to a four (4) month plus one
day hold period.


Pursuant to the policies of the TSX-V, the Company has paid $68,800 and
1,075,000 B Warrants in finder fees on this Placement.


Archean Star Resources Inc. is a junior exploration company that, through its
wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has entered
into an Option Agreement, subject to a 75% back in right, to earn 100% of Teck
Australia Pty Ltd's interest in Chalice Gold Mines Limited's Gnaweeda Gold
Project in West Australia. Kent Exploration Inc. (TSX VENTURE:KEX) holds
approximately 10,000,000 shares, or 22% of the outstanding common shares of
Archean.


This news release has been prepared on behalf of the Archean Star Resources Inc.
Board of Directors, which accepts full responsibility for its contents.


ON BEHALF OF THE BOARD

Graeme O'Neill, President

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