Alberta Star Development Corp.



Alberta Star Development Corp.

February 14, 2005 09:30 ET

Alberta Star Purchases Macinnis Lake Uranium Properties and Increases it's Uranium Portfolio in the Northwest Territories


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ALBERTA STAR DEVELOPMENT CORP.

TSX VENTURE SYMBOL: ASX
OTC Bulletin Board SYMBOL: ASXSF

FEBRUARY 14, 2005 - 09:30 ET

Alberta Star Purchases Macinnis Lake Uranium
Properties and Increases it's Uranium Portfolio in the
Northwest Territories

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 14, 2005) - Alberta
Star Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF)

Tim Coupland, President and CEO of Alberta Star Development Corp. (ASX),
listed on the TSX Venture Exchange and on the OTCBB (ASXSF), is pleased
to announce that the company has agreed to purchase a 100% interest in
18,953.64 acres called the MacInnis Lake uranium properties located in
the Northwest Territories from three private individuals.

PURCHASE AGREEMENT - MACINESS LAKE URANIUM CLAIMS

Alberta Star has agreed to purchase a 100% interest, subject to a 2% net
smelter returns royalty (NSR"), in the MacInnis Lake Uranium claims
(18,953.64 acres) by paying $60,000 and issuing 300,000 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 comprised of 18,953.64 acres
and is located in the Nonacho Basin 150 km northeast of Fort Smith,
Northwest Territories and 275 km southeast of the city of Yellowknife,
Northwest Territories. The MacInnis Lake area is known to have
widespread surface uranium mineralization, and contains 28 known high
grade uranium showings that were discovered between 1954 and 1988.
Uranium exploration on the MacInnis Lake properties and was commenced in
1954 with the discovery of large uranium outcrops and widespread surface
uranium mineralization. Uranium exploration continued extensively until
1988 and the results have been reported by the Geological Survey of
Canada. Uranium exploration involved companies such as Cominco, Shell,
PNC, and Uranerz. The MacIinnis Lake uranium properties are located in
the Nonacho Basin, a sandstone terrane of Proterozoic age that rests
unconformably on Archean basement formations. This setting is
geologically analogous to the Athabasca Sandstone Basin of Northern
Saskatchewan. The MacInnis Lake uranium occurrences are characterized as
unconformity related. The MacInnis lake area is situated 280km north of
Saskatchewan's Athabasca Uranium Basin, and is considered one of the
Northwest Territories most prospective uranium bearing regions. Alberta
Star will immediately commence plans to explore and expand uranium drill
targets at MacInnis Lake. Preparations for an aggressive spring and
summer exploration season consisting of regional mapping, trenching,
reviewing archived drill data and completing a comprehensive regional
airborne magnetic and radiometric survey have begun. Drill targeting
will focus on expanding known uranium showings. Erik Ostensoe, P.Geo is
the Qualified Person responsible for the technical information contained
within this news release on MacInnis Lake Uranium Project.

LONGTOM LAKE IOCG/URANIUM PROJECT-NWT

Alberta Star has already intersected high grade Uranium mineralization
in both of its recent drill programs at Longtom Lake in 2003 and 2004,
in Canada's Northwest Territories. Drilling intersected:

- 1.68% U3O8 over 1.0 metre at a down hole depth of 80 metres. This
uranium intercept was part of a broader interval that returned 0.56%
U3O8 over 3.0 metres.

- 0.16% U3O8 over 1.0 metres was intersected at a depth of 51 metres in
the same hole.

Previous drill campaigns by Alberta Star, Tyhee Development Corp. and
the Central Electricity Board Exploration Ltd. (CEGB) in 1986, have also
intersected significant anomalous to high grade uranium. Within a 300
metre radius of Alberta Star/Fronteer's new high grade discovery, eight
historic drill holes intersected uranium mineralization with values
ranging between:

- 0.21% U3O8 over 0.6 metres at a down hole depth of 45 metres and

- 0.48% U3O8 over 1.5 metres at a down hole depth of 59 metres.

Based on recent drill hole results and historical results in the
surrounding area, there are indications of a near surface uranium
system. The world average grade from producing uranium mines is 0.15%
U308.

Fronteer's summer 2004 drill program completed 2100 metres of drilling
to test the copper-gold-silver-uranium targets based on surface
mineralization, geophysical data and historic drilling results. Other
significant results include:

- 0.19% copper over 15 metres at a down hole depth of 37 metres and
0.14% cobalt over 6 metres at a down hole depth of 185 metres

Alberta Star, under the direction of Jan Klein M.Sc., P. Eng., P. Geo
its consulting geophysicist is currently finalizing for completion its
extensive geophysical data sets and uranium drill database for the
Longtom Property. Alberta Star has adopted a strategy which will allow
the company to focus largely on the exploration and development of the
Longtom Property and 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. This increasing demand is
occurring at a time when mine supplies are dwindling and inventories are
being depleted. Over the next decade, uranium supply is expected to fall
short of demand and the current production shortfall is more than 300
million pounds.

Spot uranium prices have risen from a cyclical low of $7.10 (U.S.) per
pound in late 2000 to a recent 20 year-high.

Based on uranium's current spot price of $21.00/lb and its longer term
price projections, Fronteer, as operator will prepare a follow up
exploration program on the Longtom Property to explore and expand
uranium targets.

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 is the
operator of the program during the earn-in period.

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

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 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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Alberta Star Development Corp.
    Tim Coupland
    President and CEO
    (604) 681-3131
    (604) 801-5499 (FAX)
    www.alberta-star.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this News
    Release.