Alkane Inc (ALKN)

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North Star Diamonds Inc. announces spinoff of Ukraine interests

BELLINGHAM, WA, Jan. 29 /PRNewswire-FirstCall/ - North Star Diamonds, Inc. (Pink Sheets: NSDM) North Star Diamonds Inc. is pleased to announce the spinoff of the interests in Ukraine to a wholly-owned subsidiary, Black Sea Minerals, Inc., incorporated in Nevada. The record date is set for February 9, 2007 and payment date of March 2, 2007. The ratio of distribution is 10 North Star Diamond Inc. shares for 1 share of Black Sea Minerals Inc. The share distribution on North Star Strategic Minerals, Inc. is now complete and shares of North Star Strategic Minerals Inc. in certificate form will be mailed upon confirmation of address. The North Star & Zale, Inc. spinout is in the final stages of completion. Presently, work is continuing on making these three entities into publicly traded companies.