Novastar
Resources Appoints Dr. Victor E. Alessi to its Board of
Directors
Washington
D.C. (August 23, 2006) -- Novastar Resources Ltd. (OTCBB: NVAS) today announced
that Dr. Victor E. Alessi, President Emeritus of the United States Industry
Coalition (USIC), has been appointed to the company’s Board of
Directors.
Seth
Grae
President of Novastar commented, “We are very pleased to have attracted as
accomplished an individual as Dr. Alessi. His vast experience dealing with
such
issues arms control, nonproliferation and international security affairs will
make him an invaluable resource and addition to Novastar’s Board of Directors.”
Dr.
Alessi graduated with a B.A. in physics in 1963 from Fordham University, where
he also earned a licentiate in Philosophy (Ph.L.) in 1964. Dr. Alessi went
on to
study nuclear physics at Georgetown University, receiving his M.S. in 1968
and
his Ph.D. in 1969.
Dr.
Alessi is currently President Emeritus of the USIC, an organization
dedicated to facilitating the commercialization of technologies of the New
Independent States (NIS) of the former Soviet Union through cooperation with
its
members. Previously, he was President of DynMeridian, a subsidiary of DynCorp,
specializing in arms control, nonproliferation, and international security
affairs. Before joining DynMeridian in early 1996, Dr. Alessi was the Executive
Assistant to the Director, U.S. Arms Control and Disarmament Agency (ACDA).
At
ACDA he oversaw day-to-day operations, preparation of the Agency’s budget, and
its contribution to the National Performance Review. He resolved inter-bureau
disputes, and advised the Director on all arms control and nonproliferation
issues.
Dr.
Alessi served as Director of the Office of Arms Control and Nonproliferation
in
the Department of Energy (DOE) prior to his work at ACDA. His duties included
overseeing all DOE arms control and nonproliferation activities and, until
1993,
he was responsible for developing and monitoring a $200M research and
development (R&D) program that supported his office’s responsibilities. This
R&D program involved hundreds of scientists and engineers at DOE national
laboratories, and covered the entire range of R&D from advanced concepts
research extending the frontiers of science and technology to the development
of
systems based on existing technologies.
As
senior
DOE representative, Dr. Alessi participated in U.S. efforts that led to
successful conclusion of the Intermediate Nuclear Forces (INF), Conventional
Forces in Europe, Threshold Test Ban, Peaceful Nuclear Explosions, Open Skies,
Strategic Arms Reductions Talks (START) Treaties and the Chemical Weapons
Convention. In this role, he was instrumental in implementing the U.S.
unilateral nuclear initiative in 1991 and was a member of the U.S. delegation
discussing nuclear disarmament with Russia and other states of the former Soviet
Union. He was in charge of DOE’s support to the U.N. Special Commission on Iraq,
to the Nunn-Lugar Initiative, and represented DOE in discussions on the
Comprehensive Test Ban (CTB) with the other nuclear weapons states before the
CTB negotiations began in Geneva in 1994.
Dr.
Alessi has been the U.S. board member to the International Science and
Technology Center in Moscow since its founding. He is also the U.S. board member
to the Science and Technology Center in Ukraine.
Before
joining DOE in 1987, he was the Chief of the Strategic Affairs Division of
ACDA.
In that capacity, he was responsible for START, Antisatellite Arms Control,
Defense and Space negotiations, and the Standing Consultative Commission (SCC).
Also, he served on the SALT II, START, and INF delegations.
On
February 14, 2006 Novastar Resources signed a definitive merger agreement with
Thorium Power, Inc. to combine the two companies. Shareholders of Thorium Power,
Inc. recently approved the merger with Novastar Resources. The name of the
Company will change to Thorium Power Ltd. and a new trading symbol will be
requested.
About
Novastar Resources
Novastar
Resources is a publicly traded company within the commercial mining sector
and
is a commercial mining firm engaged in the exploration of thorium, a naturally
occurring metal that can be used to provide nuclear energy, with
non-proliferation, waste and economic advantages, in comparison to standard
uranium fuels. Novastar Resources' stock is traded and quoted on the OTC
Bulletin Board under the symbol ``NVAS.OB''. Further information is available
on
Novastar Resources' website at http://www.novastarresources.com.
About
Thorium Power
Thorium
Power was founded in 1992 to develop technology invented by Dr. Alvin Radkowsky,
the first chief scientist of the U.S. Naval Reactors program under Admiral
H.G.
Rickover from 1950-1972 and head of the design team of the first commercial
nuclear power plant in Shippingport, Pennsylvania. Thorium Power was formed
to
develop and deploy nuclear fuel designs developed by Dr. Radkowsky to stop
the
production of weapons suitable plutonium and eliminate existing plutonium
stockpiles. Thorium Power has been collaborating with nuclear scientists and
engineers at Russia's prestigious Kurchatov Institute since 1994. For more
information, please visit http://www.thoriumpower.com.
DISCLAIMER
This
press release may include certain statements that are not descriptions of
historical facts, but are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements may include the
description of our plans and objectives for future operations, assumptions
underlying such plans and objectives, statements regarding benefits of the
proposed merger and other forward-looking terminology such as ``may'',
``expects'', ``believes'', ``anticipates'', ``intends'', ``expects'',
``projects'' or similar terms, variations of such terms or the negative of
such
terms. There are a number of risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements made herein.
These risks, as well as other risks associated with the merger, will be more
fully discussed in any joint proxy statement or prospectus or other relevant
document filed with the Securities and Exchange Commission in connection with
the proposed merger. Such information is based upon various assumptions made
by,
and expectations of, our management that were reasonable when made but may
prove
to be incorrect. All of such assumptions are inherently subject to significant
economic and competitive uncertainties and contingencies beyond our control
and
upon assumptions with respect to the future business decisions which are subject
to change. Accordingly, there can be no assurance that actual results will
meet
expectations and actual results may vary (perhaps materially) from certain
of
the results anticipated herein.
Contact:
Novastar
Resources Ltd.
Mr.
Seth
Shaw, Director of Strategic Planning
(917)
796-9926
http://www.novastarresources.com
Source:
Novastar Resources Ltd.
