ASP Transatlantic Mining Corporation

Archean Star Resources Inc. (TSX VENTURE:ASP) (the "Company" or "Archean")
announces that it has recently completed an approximately 10 sq km Sub-Audio
Magnetics ("SAM") Survey over five separate locations at the Gnaweeda Gold
Project approximately 35 km northeast of Meekatharra, Western Australia. 


The SAM survey was conducted over the Bunarra, Turnberry, St. Annes, Far East
and Archernar prospects. The Company has received interpretations of the
approximately 2 sq km Bunarra survey and the 1 sq km Far East survey. 


At Bunarra, the survey has identified two pronounced north-northwesterly
striking high conductivity zones over a strike length of approximately 1.5 km,
with a number of lesser pronounced zones lying to the west and northwest. Gold
mineralization hosted in gabbro, with grades as high as 110 g/t, has been
identified by diamond drilling in the approximate center of the eastern high
conductivity zone. Due to the proximity and similarity of the two parallel high
conductivity zones, the Company believes there is strong potential for gabbro
hosted gold along strike in both high conductivity zones.


At the Far East prospect, approximately two km northeast of Bunarra, there is a
strong correlation between significant gold anomalies (multiple intersections of
several metres at 5-10 g/t gold) identified from historic RAB drilling and the
pronounced, approximately 1 km long north-south trending SAM high conductivity
zone, that is virtually coincident with the N-S trend of gold anomalies. The
correlation is especially pronounced towards the north of the zone where it
broadens east to west and where the gold anomalies are most abundant and
stronger. Diamond drilling is planned at Far East on the pronounced SAM high
conductivity zone that is virtually coincident with the N-S trend of gold
anomalies.


Images showing the SAM conductivity data and drilling data can be viewed on the
Company's website at www.archeanstar.com/sam.jpg. 


High conductivity zones are also evident in the Turnberry, St. Annes and
Archernar prospects. The SAM surveys identify important geological features at
depth and a pronounced offset of a high conductivity zone is noted at the
southern end of the Turnberry zone, which is indicative of a structural
discontinuity. 


High grade gold intersections have been drilled in three prior identified
approximately 500 m long highly prospective zones within the approximately 2.5
km greater Turnberry prospect. The Company is awaiting assays from its most
recent diamond drill hole, Turnberry TB008, where a 28 m strongly mineralized
interval with visible gold was intersected at a depth between 325 m to 353 m.


The approximately 170 sq km Gnaweeda Greenstone Belt is located in the northeast
of the highly prolific Murchison Greenstone Gold Belt and is substantially under
explored, with diamond drilling conducted on only two of the four identified
gold prospects, and has the potential to host similar size gold deposits to the
nearby Meekatharra gold field that has historically produced approximately 4.5
million ounces of gold. Recently, Reed Resources Ltd., an ASX listed company,
has updated its reported resources from approximately 3.29 million ounces of
gold to 3.59 million ounces of gold and reports that mining operations are
projected to commence in late 2012. The Murchison Gold Belt has historically
reportedly produced over 18 million ounces of gold and during this past two
years the gold resources reportedly identified during recent exploration and
historical resource evaluations have increased from approximately 7 million
ounces to approximately 10 million ounces. 


The Company has accepted the resignation of Mr. Michael England as director of
the Company and would like to thank Mr. England for his long-standing support to
the Company.


Archean Star Resources Inc. is a junior exploration company listed on the TSX
Venture Exchange that is creating shareholder value by earning, through its
wholly owned subsidiary Archean Star Resources Australia Pty Ltd, 100% of Teck
Australia Pty Ltd's ("Teck") interest, subject to a 75% back in right, in
Chalice Gold Mines Limited's Gnaweeda Gold Project in Western Australia. Teck's
interest in the Gnaweeda Joint Venture is now approximately 86.5% as of the end
of February 2012. The Company has now expended approximately AUD$2.8 million of
the AUD$3 million required to earn 100% of Teck's interest in Gnaweeda. The
Company's goal is to identify and develop a one million plus ounce gold resource
at Gnaweeda.


This News Release has been prepared on behalf of the Archean Star Resources Inc.
Board of Directors, which accepts full responsibility for its contents. The
contents of this news release have been reviewed and approved by Dr. Clay
Conway, P. Geol., a NI 43-101 Qualified Person and a director of the Company.


ON BEHALF OF THE BOARD

Graeme O'Neill, President

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