Fairstar Announces New High Grade Zone Discovery at the South Benso Concession in Ghana, West Africa

MONTREAL, QUEBEC--Fairstar Explorations Inc. ("Fairstar") is pleased to announce that recent diamond exploration drilling by joint venture partner St. Jude Resources Ltd. ("St. Jude") has resulted in the discovery of a new high grade gold deposit at the South Benso Concession in Ghana, West Africa. The latest exploration phase is a follow-up to the previous results published by St. Jude in a press release dated March 6, 2002.

The new deposit has been named Subriso Central and it is located between Subriso East and Subriso West. The Subriso Central deposit was discovered adjacent to and in the footwall of Subriso West. The discovery hole for Subriso Central was SJB-47, which averaged 10.02 g/t Au over 15 metres. This hole was drilled as a follow-up to an earlier intersection in the footwall of the Subriso West zone from hole SJB-13 which returned 10.83 g/t Au over 5 metres. The results set out in the table below are from recent HQ core drilling at all three of the Subriso deposits on the South Benso concession.

Drilling is presently continuing at the three Subriso deposits. The new discovery, Subriso Central, lends support to Fairstar's theory that, combined with Subriso East and Subriso West, this exploration project could encompass one very large deposit extending over a strike length exceeding 2.0 kilometres.

Assaying of diamond drill samples was conducted and reported by SGS Laboratories (Belg.), from their facility in Ghana. Variances are within acceptable limits. All cores samples were assayed using 50 gram samples which were fire-assayed and finished with atomic absorption. The project is managed by St. Jude and George Flach, geologist, acts as the qualified person.

The South Benso Concession Prospecting license is held by Fairstar Ghana Limited which is owned 75% by Fairstar with the Government of Ghana and the original licensee holding 10% and 15% interests, respectively. St. Jude has the right to earn up to a 60.125% interest in the South Benso Concession, with Fairstar's interest reducing to 22.375%, by producing a feasibility report on or before January 1, 2007.

The South Benso Concession, consisting of the Amantin, Subriso East, Central and West Prospects, is directly adjacent to and north of St. Jude's Hwini-Butre Concession. Together, these two concessions incorporate approximately 30 contiguous kilometres of the prevailing strike of the prolific Ashanti gold belt.

Fairstar (symbol FFR - Toronto) is in the business of exploration for gold at two highly prospective properties located in northwestern Quebec and in Ghana, West Africa. In addition, the Company has three properties comprising 351 claims covering 17,550 hectares in the Otish Mountains diamond play in north-central Quebec.

-------------------------------------------------------------------------------- Contact: Fairstar Explorations Inc. Larry Nachshen Chairman Phone: (514) 626-1787 Fax: (514) 626-3511 or Fairstar Explorations Inc.
George Tooley
Vice-President Corp. Development
Phone: (514) 626-1787
Fax: (514) 626-3511

or Fairstar Explorations Inc.
Karl Glackmeyer
President
Phone: (514) 626-1787
Fax: (514) 626-3511
Web site: www.fairstar.com