Alberta Star Continues to Increase the Size of the MacInnis Lake Uranium Project in Canada.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. (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 announce that the company has agreed to purchase a 100% interest in 7,231.00 acres adjacent to the MacInnis Lake uranium properties located in the Northwest Territories from two private individuals. PURCHASE AGREEMENT- MACINNIS LAKE URANIUM CLAIMS Alberta Star has agreed to purchase a 100% interest, subject to a 2% net smelter returns royalty ("NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there "), in these three additional MacInnis Lake Uranium claims (7,231.00 acres) by paying $40,000 and issuing 350,000 shares, conditional on TSX Venture Exchange acceptance for filing. Alberta Star may purchase half of the NSR for a one time payment of 1 million dollars. MACINNIS LAKE -URANIUM PROPERTIES The MacInnis Lake uranium claim block is now comprised of 26,184.64 acres and is located in the Nonacho Basin 150 km northeast of Fort Smith, Northwest Territories Fort Smith (Slavey language: Thebacha "beside the rapids") is a town in the South Slave Region of the Northwest Territories, Canada. It is located in the southeastern portion of the Northwest Territories, on the Slave River and adjacent to the NWT/Alberta border. and 275 km southeast of the city of Yellowknife and, following completion of this transaction, will be comprised of 26,184.64 acres. Alberta Star, under the direction of Jan Klein M.Sc., P. Eng., P. Geo its consulting geophysicist, is currently finalizing the planning of a Megatem airborne geophysical survey over the MacInnis Lake Property. The large scale and high transmitter power of this system allows for deep penetrating exploration in the search for uranium deposits associated with graphitic conductors. Inversion modeling of the data will map the large foot prints of this type of deposits. Further detailed airborne surveys will be conducted on the property later on this spring. Alberta Star has adopted a strategy, which will allow the company to focus largely on the exploration and development of the MacInnis Lake uranium properties as uranium assets, 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 uranium's current spot price of $21.75/lb and its longer term price projections, Alberta Star, as operator of the MacInnis Lake uranium project will prepare a comprehensive spring, summer exploration program on the property to explore and expand known uranium targets. Erik Ostensoe, P.Geo. is the Qualified Person responsible for the technical information contained within this news release on the MacInnis Lake Uranium Project. 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. ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President & CEO Erik Ostensoe P.Geo is the qualified person for the MacInnis Lake uranium 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the content 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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