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from NVAS to THPW - Thorium Power, Ltd. (formerly Novastar Resources Ltd.), a Nuclear Energy Technology Company, Announces Symbol Change
Monday October 9, 6:20 pm ET


MCLEAN, Va., Oct. 9 /PRNewswire-FirstCall/ -- In connection with the recent acquisition of Thorium Power, Inc. by Thorium Power, Ltd. (formerly Novastar Resources Ltd. - OTC Bulletin Board: NVAS), on October 6th, 2006 the name of the company changed from Novastar Resources Ltd. to Thorium Power, Ltd. To reflect the name change, the company's trading symbol will change from "NVAS (OTC Bulletin Board)" to "THPW (OTC Bulletin Board)" effective at the open of business on October 10th, 2006.



About Thorium Power Ltd.:

Thorium Power Ltd. is involved in the nuclear power sector. Its focus is on technologies and services that will benefit from, and help lead to, expanded use of nuclear power generation. The company has assembled an International Advisory Board comprised of key national and international leaders in the fields of Nuclear Energy, Finance, Government Affairs, Non-proliferation and Diplomacy. Thorium Power Ltd. also has put together a Technical Advisory Board made up of top scientists and practitioners from the world's major nuclear companies.

About Thorium Power Inc.:

Thorium Power Inc. is a leading developer of proliferation resistant nuclear fuel technologies. Thorium Power Inc. designs nuclear fuels, obtains patent protection on these fuels, and coordinates fuel development with large entities and governments. The company has been working in Russia with Russian nuclear engineers and scientists for over a decade. Thorium Power Inc. is a wholly owned subsidiary of Thorium Power Ltd.

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," "plans," "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 are discussed in the reports that we file with the Securities and Exchange Commission, including our latest annual report on Form 10-KSB. 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.

Further information is available on Thorium Power Ltd.'s websites at http://www.novastarresources.com and http://www.thoriumpower.com


For more information:

Peter Charles
Thorium Power Ltd.
Ph: [phone]
Email: [e-mail]




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Source: Thorium Power, Ltd.