Alberta Star Completes Staking Of An Additional 15,460.32 Acres And Increases The Size Of The Eldorado South Iron Oxide Copper, Gold, Silver And Uranium Project In Canada'S Northwest Territories
May 20th, 2008
Alberta Star Development Corp. (“the Company”), listed on the TSX Venture Exchange (ASX) and on the OTCBB (ASXSF) and on the Frankfurt (QLD), is pleased to report that the Company has staked a number of new IOCG and uranium claims at the Eldorado South IOCG and uranium project. The newly staked claims consist of six claims consisting of 15,460.32 acres and are situated on the northwestern extension of the 100% wholly owned Eldorado South claim-block. The staking increases the size of the Eldorado South project to 62,984.41 contiguous acres (25,489 hectares). The recent staking increases the size of the Company’s regional land portfolio to over 113, 488.09 acres (45,928.43 hectares). The Company intends to continue to acquire a number of poly-metallic and uranium properties as part of a greater regional acquisition strategy in the Sahtu Region of Canada’s Northwest Territories.
ELDORADO & CONTACT LAKE IOCG & URANIUM PROJECTS -5 YEAR CLASS “A” DRILLING PERMITS ISSUED-FULLY PERMITTED
The Company has been granted two five-year Sahtu Land & Water Board Class “A” Land Use Permits amendments (Eldorado/Glacier Lake and Contact Lake) for long term diamond drilling at both the Eldorado & Contact Lake Projects. The Eldorado/Glacier Lake Permit (Permit No. SO5C-012) is valid until April 26, 2013 and the Contact Lake permit (Permit No.S05C-002) is valid until August 24, 2012. The Company has also submitted a formal application for a third drill permit to the Sahtu Land and Water Board (SLWB). This third “5-Year” drill permit application submitted in April 2007 has requested 15,000 meters of drilling per year, over a five-year period for a total of 75,000 meters which includes the area of the recently discovered Eldorado South radiometric anomaly. The Company is finalizing a second detailed and expanded TEK (Traditional Educational Knowledge) environmental baseline study for the Eldorado South region which will be submitted shortly which will conclude the final stage of the Eldorado South permitting process. This prospective IOCG & uranium target is being prepared for reconnaissance and detailed sampling, mapping and drilling.
THE ELDORADO & CONTACT LAKE IRON OXIDE COPPER, GOLD, SILVER AND URANIUM PROJECTS
The Eldorado & Contact Lake Permit Areas are located on the east side of Great Bear Lake in Canada’s Northwest Territories. The permit areas are situated 470 kilometers north of the city of Yellowknife. The total size of the Eldorado & Contact Lake Permit area covers over 98,027.77 acres in size. The Eldorado & Contact Lake IOCG + uranium project areas include past producing high grade silver and uranium mines. This includes the Echo Bay Silver Mine which produced 23,779,178 ounces of silver and the Eldorado Uranium Mine which produced 15 million pounds of uranium and 8 million ounces of silver. Olympic Dam volcanic hosted hydrothermal iron-oxide copper, gold style of deposits are attractive targets for exploration and development due to their poly-metallic nature, high unit value and enormous size and grade tonnage potential. The Eldorado Mineral Belt which is situated in the Great Bear Magmatic zone, NT, has long been recognized by geologists, as one of the most prospective Iron oxide copper, gold, silver and uranium regions in northern Canada.
ALBERTA STAR DEVELOPMENT CORP.
Alberta Star is a Canadian mineral exploration company that identifies, acquires and finances advanced stage mineral exploration projects in Canada. The Company is committed to creating long term shareholder value through the discovery of base and precious metals and uranium.
Investors are welcomed to contact Mr. Allan Feldman, the Company’s Investor Relations and Corporate Communications Specialist, for all corporate updates at (604) 948-9663. In Quebec contact Mario Drolet at MI3 Communications at (514)-904-1333.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Alberta Star Development Corp.
Tel 604.681.3131 Fax 604.408.3884
ALBERTA STAR DEVELOPMENT CORP.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. For further information investors should review the Company’s filings that are available at www.sedar.com or contact Tim Coupland, President at (604) 681-3131