Alberta Star Closes First Tranche of 1.2 Million Dollar Brokered Private Placement/Engages SRK Consulting Engineers.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Tim Coupland, President and 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. of Alberta Star Development Corp. (ASX ASX See: Australian Stock Exchange )(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), listed on 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. and on the OTCBB (ASXSF), is pleased to report it has closed on $735,000 the first tranche of a 4.8 Million flow-through common share private placement at $0.25 each per common share, for gross proceeds of up to $1.2 Million. ALBERTA STAR ENGAGES SRK SRK Shah Rukh Khan (Indian actor) SRK Shoryuken (fighting games) SRK Soave-Redlich-Kwong (thermodynamic model) SRK Syk-Related Tyrosine Kinase CONSULTING ENGINEERS TO COMPLETE RESOURCE ESTIMATE Alberta Star has engaged SRK Consulting Engineers & Scientists to complete a NP #43-101 Technical Review and Preliminary resource Estimate on the Dixie Lake Gold Project. The report is expected to be finalized by Sept 15, 2004. Alberta Star has completed over 8,500 metres of deep drilling over the past 12 months with its partner Fronteer Development Group. Fronteer has filed a compliant NP 43-101 report dated March 7, 2003 on the Dixie Lake Project. Alberta Star has significantly upgraded the resource potential of the Dixie Lake Property, demonstrating that high grade gold 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. is present over significant widths and that the shoot geometry is both predictable and continuous over a vertical range of at least 400 metres. The Dixie Lake Resource estimate will be prepared according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry best practices, as defined by the CIMM CIMM Canadian Institute of Mining and Metallurgy CIMM Centro de Informação Metal Mecânica (Brazil) CIMM Commodity Integrated Material Manager CIMM Configuration; Installation; and Maintenance Manual . An appropriate geological model will be established in conjunction with developed economic parameters. Analysis will seek to establish the statistical and spatial character of the gold mineralization, in terms of grade, thickness variations, distribution of refractory vs. free gold, and the extent to which the "nugget Nugget A 15 year Gold FHLMC (Freddie Mac) bond; similar to a Dwarf. effect" affects the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. sample population. The report will be comprehensive and will be the cornerstone of upcoming studies, evaluations, and strategic planning for the Company. Alberta Star has provided and disclosed all material information regarding the Dixie Lake Gold Project and the company, and that there is no undisclosed material facts about the Company. "GEOLOGICAL LONG SECTION THROUGH THE 88-4 ZONE SHOWING THE SHOOT GEOMETRY" To view the map accompanying this press release please click on the following link: http://www2.cdn-news.com/database/fax/2000/ASX0728.gif. Drilling highlights within the 88-4 shoot are shown in the table below. -------------------------------------------------- Drill Hole Core Length (metres) Gold (g/t) -------------------------------------------------- DL-04-01 2.0 11.1 -------------------------------------------------- DL-04-02 1.0 10.3 -------------------------------------------------- DL-04-04 4.0 11.0 -------------------------------------------------- including 2.1 18.5 -------------------------------------------------- DL-04-05 2.0 7.4 -------------------------------------------------- including 1.1 11.2 -------------------------------------------------- DL-04-06 8.2 10.9 -------------------------------------------------- including 5.1 15.1 -------------------------------------------------- including 2.3 27.7 -------------------------------------------------- DL-04-07 1.8 5.0 -------------------------------------------------- DL-03-06 4.3 5.8 -------------------------------------------------- including 0.9 12.0 -------------------------------------------------- DL-03-08 4.0 12.5 -------------------------------------------------- including 1.5 24.7 -------------------------------------------------- DL-89-09 2.8 15.6 -------------------------------------------------- DL-04-08 1.3 7.4 -------------------------------------------------- DL-04-10 1.5 9.3 -------------------------------------------------- Alberta Star and Fronteer plan to use the flow-through proceeds to commence a $750,000 Phase 4 drill program slated to begin in September 2004. The company plans to start targeting additional high grade gold shoots and testing new geochemical and geophysical targets. Over the past 12 months Fronteer, with its funding partner Alberta Star, has significantly upgraded the resource potential of the Dixie Lake Property, demonstrating that high grade gold mineralization is present over significant widths and that its geometry is both predictable and continuous over a vertical range of at least 400 metres. DIXIE LAKE GRADE GOLD PROJECT 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 Belt, Ontario. ALBERTA STAR DEVELOPMENT CORPORATION Alberta Star is a leading Canadian mineral exploration company that identifies, acquires, finances and develops advanced staged gold properties throughout the North America. Alberta Star is primarily focused on the discovery of gold. 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 Assay results have been prepared under the guidance of Dr Mark O'Dea P.Geo, who is designated as a Qualified Person with the ability and authority to verify the authenticity of and validity of this data. All core samples were analyzed by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex, North Vancouver, BC, using ICP-AES ICP-AES Inductively Coupled Plasma Atomic Emission Spectroscopy ICP-AES Inductively Coupled Plasma Atomic Emission Spectrophotometry and fire assay. 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 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 Fronteer'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. |
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