VANCOUVER, British Columbia, March 18, 2004 (PRIMEZONE) -- Bright Star Ventures Ltd. (TSX Venture Exchange:BSV) (the "Company") confirms the closing of the 1,391,111 flow-through units previously announced at a price of $0.45 per unit with a 4-month hold period expiring on May 28, 2004. Further, the Company advises that the finder's fee of 111,111 warrants payable to First Republic Securities Corporation has been amended to a two-year term, and not one year. The warrants are exercisable at $0.45 per share in the first year and at $0.50 in the second year. The Company has paid a 10% commission on this financing.
The Company also responds today to the suspension in trading of its common shares. On March 8, 2004, the Company retained new legal counsel to assist in resolving the outstanding issues raised by the TSXV letter of March 4, 2004.
The Company's newly appointed legal counsel, Lang Michener LLP, has been requested to review and prepare the materials for the required corporate submissions. Additional information and corporate records requested from the former legal counsel was not received until March 17, 2004.
The Company hopes to resolve this matter as soon as possible. Further details will be disclosed as events transpire.
On behalf of the Board
"David Allen"
President & Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.