ASP Transatlantic Mining Corporation

Archean Star Resources Inc. ("Archean" or the "Company") (TSX VENTURE:ASP)
reports it has entered into a Letter Agreement to acquire an Option to earn an
80% interest in a Mining Lease on the historic Monitor Copper, Gold Mine in
Shoshone County, Idaho ("Monitor" or "Monitor Mine"). The historic Monitor Mine
is located approximately 30 km (17 mi) ESE from the town of Wallace, Idaho, in
the historic and highly prolific Coeur D'Alene Mining District, where over 1.1
billion ounces of silver, 8.3 million tons of lead, 3.3 million tons of zinc,
207,000 tons of copper and 529,000 ounces of gold have reportedly been produced
from steeply dipping narrow veins, some of which extend from surface
outcroppings to a mile or more deep.


History of Monitor Mine

Historic production records from past underground exploration and development
work at the Monitor Mine reported that 1,562 tons were shipped to the Tacoma
smelter in the early 1900's with average reported smelter returns of 14.92%
copper, (298.3lb/ton), 23.6 g/t silver (0.76 opt Ag) and a reported average of
8.64 g/t Au (0.278 opt/Au) with a reported high gold value of 68.43 g/t Au (2.2
opt/Au). Mineralization at Monitor is reported to occur primarily as deep,
continuous, high-grade vein systems, with shoots of Bornite and high-grade
Chalcopyrite with values of from 7.46% up to 30% Cu and variable widths between
3 m (10 ft.) and 6 m (20 ft.) along with gold values to up to 68.43 g/t Au and
anomalous silver values.


Historic development work on the Monitor Mine included a 213 meter (700 ft.)
shaft and approximately 300 m (1,000 ft.) of development crosscuts and drifting
over five levels.


Adjacent to the Monitor Mine and approximately 300 m (1,000 ft) NW of the
Monitor shaft and at 80 m (240 ft) lower elevation, lies the Richmond Mine adit.
The Richmond vein, that strikes N68E, is projected to intersect the Monitor vein
approximately 480 m (1,600 ft) WNW from the Monitor shaft. Historic assays from
the Richmond vein, that reportedly has a similar widths of 3 meters (10 ft.) and
grades as the Monitor vein, are reported as approximately 12% Cu, 34.1 g/t Ag
(1.1 opt Ag) and between 3.7 g/t - 10 g/t Au (0.12 opt to 0.3 opt Au).


During the great Idaho fire of 1910 all above ground infrastructure was
destroyed and both the Monitor and Richmond mines ceased production never to
reopen. Work recommenced on the Monitor in the late 1920s when an approximate
1.5 km drive was constructed that reportedly intersected the 3 meter (10 foot)
wide Monitor vein approximately 300 meters (1,000 ft.) below, and 600 meters
(2,000 ft.) west of the Monitor shaft. Work reportedly ceased during the great
depression after which the mine workings were never re-opened. Historic mine
production was reportedly limited to developmental ore from the drifts and some
stoping above the 200 level.


District wide trends within adjacent properties in the Coeur D'Alene Mining
District, such as the Galena Mine and the Lucky Friday Mine, indicate
mineralized veins with widths between 3 meters to 10 meters extend to as deep as
6,100 ft.


The Company advises that all grades reported are historic in nature, are not NI
43-101 compliant and a qualified person has not done sufficient work to classify
historical estimates as a current mineral resource. The Company is not treating
any historical estimates as a current mineral resource and any historical
estimates should not be relied upon.


In order for the Company to earn an 80% interest as per the terms of the
Agreement, and subject to the approval of the TSX Venture Exchange ("TSX-V"),
the Company must pay $25,000 in cash, incur property expenditures of US$2.1
million over three (3) years and issue three (3) million common shares of the
Company; one (1) million common shares upon signing, one (1) million common
shares on the first anniversary of the Agreement and one (1) million common
shares on the second anniversary of the Agreement.


The Company has engaged Dr. G. E. Ray, Ph.D. P.Geol to conduct a NI
43-101-Compliant Report on the Monitor Property. Dr. Clay Conway, Ph.D. P.
Geol., a qualified person and a director of the Company will be heading up the
concurrent exploration program on the Monitor Property.


The Company reports that Mr. Jeff Williams has resigned as a director of the
Company, and the Company would like to thank him for his contributions during
this past year. Mr. Williams will remain as a consultant to the Company.


The Company advises that the proposed purchase of the Chalice interest in
Gnaweeda has been cancelled.


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 18% of the outstanding common shares.


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 Qualified Person as defined by National Instrument NI-43-101
and a director of the Company.


ON BEHALF OF THE BOARD

Graeme O'Neill, President

FOR FURTHER INFORMATION PLEASE CONTACT: 
Archean Star Resources Inc.
Graeme O'Neill
President
(604) 684-3394
(888) 282-7763 (FAX)
www.archeanstar.com

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