Alberta Star Appoints Peter Read Ph.D., as Senior Exploration Manager and Provides Corporate Update.VANCOUVER, British Columbia -- Alberta Star Development Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASXSF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ASX ASX See: Australian Stock Exchange ) ("Alberta Star" or the "Company"), is pleased to announce that Peter Read, Ph.D., F.G.A.C, has been appointed as senior exploration consultant for Alberta Star. Peter brings over 45 years of mineral exploration experience to Alberta Star and its exploration team. Peter has worked extensively in some of Canada's largest gold mines and is renowned for his structural and stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat knowledge of the Red Lake Gold Belt. Peter has worked extensively for both the Canadian Federal and Provincial Governments, and as an independent consultant for Placer Dome Canada's Campbell Mine, in Red Lake, Ontario Red Lake is a municipality and census subdivision 535 km north-west of Thunder Bay, Ontario, Canada. The municipality consists of 6 small towns ( Balmertown, Cochenour, Madsen, McKenzie Island, Red Lake and Staratt-Olsen) and has a local population of approximately 8,500 people. . The Campbell mine owned and operated by Placer Dome, has mined over 10 million ounces of gold, and is one of Canada's largest gold producers. DIXIE LAKE GOLD PROJECT - RED LAKE, ONTARIO The Dixie Lake Gold Property is the Company's most advanced project. Alberta Star plans to use flow-through proceeds to commence Phase 4 Drilling. Phase 4 drilling is in the planning stage. The Company is currently planning drill targeting additional high grade gold shoots that have been identified, and testing new geochemical and geophysical targets that exist on the property. Alberta Star has been granted an option to earn up to 50% interest on Fronteer's Dixie Lake Gold Property, situated 25 kilometres south of Placer Dome's Campbell Mine and Goldcorp's Red Lake Mine in the Red Lake Gold Belt, Ontario. LONGTOM LAKE URANIUM PROJECT-NORTHWEST TERRITORIES The Longtom property is Alberta Star's prospective Olympic Dam style (IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth ) Iron-Oxide, Copper, Gold, +Cobalt, Silver, Uranium exploration project near Longtom Lake in Canada's Great Bear Magmatic Zone. Alberta Star has adopted a strategy which will allow the Company to focus largely on the exploration and development of the Longtom Property as a uranium asset, as part of a long term strategy to take advantage of the growth in the U.S. and world-wide electrical energy demand. Based on recent drill hole results and historical results in the surrounding area, there are indications of a near surface uranium system, that has both size and high grade potential. Fronteer has been granted the option to earn a 75% interest in the Longtom Lake property from Alberta Star by paying $15,000 in cash and spending an aggregate of $500,000 on exploration over three years. Fronteer will be the operator during the earn-in period. SHABU LAKE PROPERTIES - RED LAKE, ONTARIO The Shabu Lake properties are adjacent to Sabina Resources Ltd.'s, Golden Sidewalk property in Red Lake, Ontario. The properties are located in Balmer assemblage volcanic rocks located on the west side of the Birch-Confederation greenstone belt adjacent to Sabina resources Golden Sidewalk property. Balmer assemblage rocks are host to the major gold producers in the Red Lake Gold camp. Alberta Star can earn a 100% interest, subject to a 2% net smelter returns royalty in the Shabu Lake claims by paying $4,500 and issuing 25,000 common shares and paying $90,000 and issuing 100,000 common shares in stages over 4 years. Alberta Star may purchase half of the 2% NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there for a one time payment of 1 million dollars. ALBERTA STAR DEVELOPMENT CORPORATION Alberta Star is a Canadian mineral exploration company that identifies, acquires, finances and develops advanced staged exploration properties throughout North America. Alberta Star is primarily focused on the discovery of gold, uranium and base metals. It specializes on gold properties with strong data bases that are fully permitted and drill ready for purchase or option. Alberta Star's focus is to acquire properties where proper due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. has indicated that there is a reasonable expectation of identifying and yielding a world-class deposit for its shareholders. ALLAN FELDMAN-INVESTOR RELATIONS Investors are welcomed to contact Mr. Allan Feldman, Alberta Star's in-house Investor Relations Investor relations The process by which the corporation communicates with its investors. and Corporate Communications Specialist, for all corporate updates at (604) 948-9663. On behalf of the Board of Directors of ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dr. Rick Valenta P.Geo of Fronteer Development Group is the qualified person for the Longtom Lake IOCG project. This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Without limitation, statements regarding potential mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve that involve various degrees of risk. The following are important factors that could cause Alberta Star's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this news release. |
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