Alberta Star Reaches Joint Venture Agreement on Longtom Lake Copper Gold -IOCG- Project.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 30, 2003

Tim Coupland, President of Alberta Star Development Corp. (ASX), listed on the TSX Venture Exchange and on the OTCBB (ASXSF), is pleased to announce that it has entered into an agreement with Fronteer Development Group Inc. (FRG-TSX, Frankfurt-FRR) and NW Mineral Ventures, an Olympic Dam Strategic alliance, providing for the continued development of the Longtom Lake Iron Oxide Copper Gold project. All upcoming mineral exploration on the Longtom will be funded by NW Mineral Ventures. The property is subject to the terms and conditions of the Fronteer-NW Mineral Ventures agreement (News release: Oct 1/2003) whereby NW Mineral Ventures may earn a 50% interest in the entire property portfolio by spending an aggregate $5.0 million on exploration over five years. Should NW Mineral Ventures vest its 50% interest, Fronteer will receive a 25% interest in the Longtom property. Fronteer will be the operator of the programs during the earn-in phase.

OPTION AGREEMENT-LONGTOM LAKE COPPER, GOLD PROPERTY

Fronteer has 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 of the program during the earn-in period. The agreement is subject to TSX Venture Exchange approval.

ALBERTA STAR'S LONGTOM LAKE COPPER, GOLD PROJECT

The Longtom Property is located 50 km south of the Tyhee Development Corp.'s Terra Silver Mine Property, and 160 km north of Fortune Minerals' NICO gold deposit. The property is centered over a 7.5 km long spatially coincident high-amplitude gravity and magnetic anomaly which also coincide with a suite of high quality IP targets.

A recent twelve-hole diamond drill program undertaken by Alberta Star tested a number of widely spaced geophysical anomalies and confirmed the presence of a large underlying IOCG style alteration system with breccia hosted mineralization in concentrations that approach economically significant values. Highly anomalous polymetallic mineralization (copper, gold, silver, uranium, bismuth, REE), a signature of iron oxide hosted copper-gold deposits, was encountered in all ten holes.

The 2003 drilling program has greatly enhanced the Longtom Property database and has helped refine targeting criteria. Numerous outstanding high priority drill targets will be tested in the spring/summer (Phase 2) of 2004, when exploration on the property will resume.

Dr Rick Valenta, Fronteer's VP of Exploration, will be managing the upcoming exploration programs in the NWT. Dr. Valenta will re-interpret the data for the Longtom Property and select a series of new high priority targets for drill testing in 2004. Dr. Valenta is renowned for his global iron oxide copper gold experience, having studied and explored for these systems in Mt. Isa (Ernest Henry Mine), the Olary Block, Gawler Craton and Stuart Shelf (Olympic Dam), Tennant Creek, Brazil, Chile, and Argentina.

IOCG deposits form an economically significant deposit class due to their large size (up to 2000 million tonnes) and polymetallic character (e.g., Cu, Au, U, Mo, Ag), yet they are under represented in Canada due to a lack of exploration attention. There is an enormous untapped potential for this deposit type in Canada and this part of the NWT provides the ideal hunting ground for the next outstanding deposit within this class.

ALBERTA STAR DEVELOPMENT CORPORATION

Alberta Star is a Canadian based mineral exploration company that identifies, acquires, and develops advanced staged mineral exploration properties throughout the world. It specializes in 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 due diligence has indicated that there is a reasonable expectation of identifying and yielding a world-class deposit for its shareholders. Alberta Star has been actively identifying and targeting several high-grade gold projects that are fully permitted and drill ready, for acquisition in Canada, Mexico and Nevada.

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 [phone].

On behalf of the Board of Directors of

ALBERTA STAR DEVELOPMENT CORP.

Tim Coupland, President

This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.