ASP Transatlantic Mining Corporation

Archean Star Resources Inc. (TSX VENTURE:ASP) ("Archean" or the "Company")
announces that it has arranged for a non-brokered Private Placement consisting
of up to 12,000,000 Units at $0.06 cents per Unit and, subject to acceptance for
filing by the TSX Venture Exchange ("TSX-V"), has closed a first tranche of
8,496,666 Units for gross proceeds of $509,800.


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 $0.12 per common share for a
period of twelve months. Shares subscribed for in the Private Placement are
subject to a four (4) month plus one day hold period.


Finder Fees consisting of Cash and Compensation Warrants may be paid pursuant to
the policies of the TSX-V. Each Compensation Warrant will entitle the holder to
purchase one (1) common share of the Company for a period of 12 months from the
date of issuance at a price of $0.12 per Compensation Warrant.


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


Subject to the approval of the TSX-V, the Company announces the grant of 400,000
incentive stock options to Officers, Directors, Employees and Consultants of the
Company exercisable at a price of $0.10 per common share.


The Company announces the appointment of Giuseppe Gallo, CGA, as Chief Financial
Officer ("CFO") of the Company.


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 the Gnaweeda Gold Project in Western Australia.


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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