-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 KB/q1MBBo2Sc4rier5DxcV5MJkvNvp+usB0efaaEGXd0Zpx8QKtc+iqtcFvm0ce2
 rbaXWeIyzEa8GgYKjoLGEQ==

<SEC-DOCUMENT>0001144204-07-066323.txt : 20071207
<SEC-HEADER>0001144204-07-066323.hdr.sgml : 20071207
<ACCEPTANCE-DATETIME>20071207103340
ACCESSION NUMBER:		0001144204-07-066323
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071205
FILED AS OF DATE:		20071207
DATE AS OF CHANGE:		20071207

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Thorium Power, Ltd
		CENTRAL INDEX KEY:			0001084554
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				911975651
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1  E. LIBERTY STREET, SUITE 6000
		CITY:			RENO
		STATE:			NV
		ZIP:			89501
		BUSINESS PHONE:		604-904-6946

	MAIL ADDRESS:	
		STREET 1:		1  E. LIBERTY STREET, SUITE 6000
		CITY:			RENO
		STATE:			NV
		ZIP:			89501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD.
		DATE OF NAME CHANGE:	20051011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD
		DATE OF NAME CHANGE:	20050829

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CUSTOM BRANDED NETWORKS INC
		DATE OF NAME CHANGE:	20010622

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MUSHAKOV ANDREY
		CENTRAL INDEX KEY:			0001371007

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28543
		FILM NUMBER:		071291274

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		703 918 4905

	MAIL ADDRESS:	
		STREET 1:		NOVASTAR RESOURCES LTD
		STREET 2:		GREENSBORO DRIVE STE 800
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v096700_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-12-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001084554</issuerCik>
        <issuerName>Thorium Power, Ltd</issuerName>
        <issuerTradingSymbol>THPW.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001371007</rptOwnerCik>
            <rptOwnerName>MUSHAKOV ANDREY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1701 EAST WEST HIGHWAY, APT. 401</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SILVER SPRING</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20910</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP -  Intl Nuclear Operations</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2007-12-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>103225</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1543225</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <transactionDate>
                <value>2007-12-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>41290</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.35</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1501935</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.35</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-12-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>309674</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-12-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2017-12-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>309674</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3520717</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On December 5, 2007, the Issuer granted 103,225 shares of its common stock to Mr. Mushakov as part its annual equity
 compensation to its employees.</footnote>
        <footnote id="F2">The Issuer redeemed 41,290 shares from Mr. Mushakov on December 5, 2007. Proceeds of this redemption were paid directly to
 federal and/or state taxing authorities to cover Mr. Mushakov's tax liability relating to the grant of 103,225 shares of
 common stock of Mr. Mushakov.</footnote>
        <footnote id="F3">On December 5, 2007, the Issuer granted to Mr. Mushakov an option for the purchase of 309,674 shares of the Issuer's common
 stock as part of its annual equity compensation to its employees.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrey Mushakov</signatureName>
        <signatureDate>2007-12-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
