Exhibit
99
Press
Release
FOR
IMMEDIATE RELEASE CONTACT:
Seth
Shaw
917-796-9926
; Sethsms47@aol.com
Novastar
Resources Appoints George D. Crowley, Jr. Chairman of International Advisory
Board
Washington
D.C. (May 2, 2006) -- Novastar Resources Ltd. (OTCBB: NVAS) today announced
that
George D. Crowley, Jr., chairman and CEO of the Crowley Group, has been
appointed as the chair of the company’s International Advisory Board.
“George
Crowley’s distinguished and successful career in the planning and development of
technology and infrastructure-related companies around the world makes him
an
ideal candidate to lead our International Advisory Board,” said Novastar
President and CEO Seth Grae.
The
International Advisory Board is expected to be comprised of 10-15 prominent
and
influential individuals from a variety of backgrounds, including business,
government, energy and academia. It will serve as a strategic sounding board
and
source of external insights and perspective to Novastar management.
Mr.
Crowley, Chairman and Chief Executive Officer of the Crowley Group, is an
American entrepreneur, with 23 years of experience in the planning and
successful development of wireless, technology and infrastructure-related
businesses. He has undertaken these activities in the United States, Latin
America and Central Europe. In connection with such activities, Mr. Crowley
has
arranged approximately $4.5 billion in financing.
Mr.
Crowley has formed a total of 25 start-up companies in the U.S. and six emerging
markets in Latin America and Central Europe. He has financed such start-ups
through traditional private equity, equipment supplier and bank credits,
strategic investments and government grants. Mr. Crowley's emerging market
partners have included The Blackstone Group, the largest private telephone
company in Brazil, Lucent Technologies and the Government of
Poland.
In
2004,
Crowley formed Crowley Infrastructure Development Group (CIDG) in Poland.
CIDG
currently is finalizing master redevelopment plans for several municipalities.
These projects include revitalization of infrastructure as well as the provision
of new plants for the generation of electricity. In that regard, CIDG also
is
assisting the new Polish government in formulating its energy policies to
include the deployment of nuclear plants.
In
2000,
Mr. Crowley formed Salmon PCS LLC, which is backed by Cingular Wireless to
build
and operate next generation cellular networks in metropolitan areas across
the
United States. Salmon successfully bid $2.3 billion for 79 PCS licenses in
a
recent U.S. government auction. To date, the FCC has granted 45 of those
licenses covering a population of 11.5 million in October 2001 in exchange
for
Salmon’s payment of $241 million.
From
1987-1994, Mr. Crowley was Chairman and Chief Executive Officer of Crowley
Cellular Telecommunications Inc. ("CCTI"). By 1991, "CCTI" had become the
second largest privately held cellular telecommunications company in
America.
In
1999,
Crowley Data Poland ("CDP") was granted a nationwide concession from the
Polish
Government to offer broadband wireless data services. CDP has deployed a
state-of-the-art local multi-point distribution service "LMDS" network in
Poland. Lucent Technologies supplied the network. Crowley reached an agreement
with Blackstone Capital Partners III pursuant to which Blackstone became
a
minority investor in Crowley’s Polish enterprise. CDP is currently the largest
and fastest growing wireless broadband company in Central Europe.
Mr.
Crowley was a founding investor and director for ten years of Southern Starr
Broadcasting Company, a publicly held owner of FM radio stations in the U.S.
He
was also a member of the Young Presidents Organization and the Board of
Directors of the U.S. Cellular Telecommunications Industry Association. Mr.
Crowley is an attorney with degrees from Georgetown University and Georgetown
University Law Center in Washington, D.C. Mr. Crowley currently serves on
the
Georgetown University Board of Regents.
About
Novastar Resources
Novastar
Resources is a publicly traded company within the commercial mining sector
and
is a commercial mining firm engaged in the exploration of thorium, a naturally
occurring metal that can be used to provide nuclear energy, with
non-proliferation, waste and economic advantages, in comparison to standard
uranium fuels. Novastar Resources' stock is traded and quoted on the OTC
Bulletin Board under the symbol "NVAS.OB". Further information is available
on
Novastar Resources' website at www.novastarresources.com.
Additional
Information
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", "expects", "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. 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.
For
more information, contact:
Novastar
Resources Ltd.
Mr.
Seth
Shaw
Director
of Strategic Planning
Sethsms47@aol.com
http://www.novastarresources.com/