Fairstar granted iron exploration licence at Lindsay Dam iron discovery November 6, 2008

Australian exploration and development company Fairstar Resources Limited (ASX: FAS) has been granted the right to explore for iron at the Company’s new iron discovery, at the Lindsay Dam tenement in Western Australia’s eastern goldfields.

Fairstar’s authorisation to explore for iron at Lindsay Dam (exploration licence 28/1672), effective from October 9, has been granted by The Western Australian Minister for Mines and Petroleum.

Fairstar announced its Lindsay Dam iron discovery in July. It is part of the Company’s Kurnalpi-Randalls Gold Project. The tenement is located 110km southeast of Kalgoorlie, and the iron discovery is the first of its kind in an area which has been previously known for its gold prospectivity. The tenement is in close proximity to major rail infrastructure, with the Trans Australian Railway passing 23 km south of the iron discovery.

The company is of the view that the project area has the potential to produce Direct Shipping Ore (with grades greater than 60% Fe) as well as a beneficiable Banded Iron Formation (BIF) resource. A drilling program will now be planned ahead of a JORC resource estimation.

Click here to read the full announcement.

For more information please contact:

Kevin J. Robertson
Managing Director
Fairstar Resources Limited
Ph: 0409 319 282
E: kevin @fairstarresources.com

or

James Moses
Partner
Fortbridge Consulting
M: +61 420 991 574
E: james.moses@fortbridge.com