Alberta Star Completes Staking of an Additional 9,968.45 Acres and Increases the Size of the 100% Wholly Owned Contact Lake Iron Oxide Copper, Gold, Silver, Uranium Project.VANCOUVER, British Columbia -- Alberta Star Development Corp. (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 )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASXSF) - 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., 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. (ASX) and on the OTCBB (ASXSF), is pleased to announce that the company has completed its staking at Contact Lake located in the Northwest Territories and increased the size of its 100 % wholly owned Contact Lake iron oxide The material used to coat the surfaces of magnetic tapes and lower-capacity disks. , copper, gold, silver, uranium project to 14,420.82 acres. Alberta Star continues to amass a number of advanced stage uranium properties with archived uranium drill data and advanced stage datasets in Canada's Northwest Territories. CONTACT LAKE "IRON OXIDE COPPER/ GOLD/ SILVER URANIUM PROJECT" The Contact Lake claim block now consists of eleven contiguous claims located 5 km southeast of Port Radium on the east side of Great Bear Lake Northwest Territories and 423 miles north of the city of Yellowknife, and consists of 5835.59 hectares (14,420.82 acres). The Contact Lake project is located 5 kilometers from two past producing silver and uranium mines, the Echo Bay Mine (produced 23,779,178 ounces of silver) and the Port Radium, Eldorado Mine (produced 15 million pounds of uranium, and 8 million ounces of silver). The Contact Lake Mine is a former past producer of silver and high grade uranium. The Contact Lake claim block and surrounding area covers extensive alteration zones including large intensely 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. gossans that can be traced for over 1 kilometer in length and over 200 meters in width. This area has been under- explored and has lacked advanced exploration geophysics. The Contact Lake Mineral Belt is approximately 15 kilometers long. This is the northern extension of the same mineral belt that hosts Fortune Minerals NICO NICO Nissan Infiniti Car Owners NICO Nicodemus National Historic Site (US National Park Service) NICO Neuralgia-Induced Cavitational Osteonecrosis (medical) NICO Naftiran Intertrade Co Ltd Gold deposit. These large scale deposits are of a class that includes the 2 Billion Ton Olympic Dam iron oxide, copper, gold, silver, REE and uranium (IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth ) deposits. The continuing search for iron oxide copper, gold, silver and uranium (IOCG) deposits has gained momentum in Canadian mineral exploration due to their large size potential and polymetallic grades of 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. , including sizeable amounts of uranium. Alberta Star has adopted a strategy which will allow the company to focus on the development of the Contact Lake, MacInnis Lake uranium property, and Longtom Lake properties as uranium assets, as part of a long term strategy to take advantage in the growth of in the U.S. and world-wide electrical energy demand. Over the next decade, uranium supply is expected to fall short of demand and the current production shortfall is expected to be more than 300 million pounds. The current spot price for uranium is $24.00 US per pound. Erik Ostensoe, P. Geo., is the qualified person responsible for technical information contained within this news release on Contact Lake project. ALBERTA STAR DEVELOPMENT CORPORATION Alberta Star is a Canadian mineral exploration company that identifies, acquires, finances advanced stage exploration projects in Canada. Alberta Star is focused in the discovery of uranium, base and precious metals. ALLAN FELDMAN-INVESTOR RELATIONS Investors are welcomed to contact Mr. Allan Feldman, Alberta Star's in-house Investor Relations and Corporate Communications Specialist, for all corporate updates at (604) 948-9663. ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President & CEO Erik Ostensoe P.Geo is the qualified person for the Contact Lake 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 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 does not accept responsibility for the adequacy or accuracy of this News Release. Alberta Star Development Corp. (TSX VENTURE:ASX) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ASXSF) |
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