Megastar Development Corp.
TSX VENTURE : MDV
FRANKFURT : M5Q

Megastar Development Corp.

August 29, 2008 10:00 ET

Megastar Acquires Additional SEDEX Claims in Northern BC

VANCOUVER, BRTISH COLUMBIA--(Marketwire - Aug. 29, 2008) - Megastar Development Corp. (TSX VENTURE:MDV)(FRANKFURT:M5Q) is pleased to announce that Mantle Resources Inc. has completed its commitment to transfer all 100% right, title and interest in and to ten mineral claims in the world-class Kechika Trough sedex zinc basin located in North-eastern B.C.

The ten additional claims, located within an area of mutual interest defined in the March 2007 option agreement between Megastar and Mantle, were acquired by Mantle subsequent to signing the Megastar Option Agreement. Mantle completed its first year obligations under the agreement. The work program was successful in locating several areas and trends of zinc, lead and silver bearing exhalative horizons within the underlying formations on Megastar's ground. Subsequently, the option agreement between Megastar and Mantle was terminated by mutual consent in April 2008, when the parties were unable to agree upon amended terms. As a result of ten new claims transferred to Megastar, Megastar now has a clear title and 100% interest in a total of 33 mineral claims covering 22, 461 ha. "I want to thank Mantle for the professional and timely manner in which they executed their commitments..." said Dusan Berka.

Megastar's 100% owned SEDEX zinc-lead-silver properties are adjacent to and along strike the favorable geology which is host to several significant zinc deposits including TeckCominco/Korean Zinc's Cirque and South Cirque Deposits (totaling a combined geological inventory in excess of 50 million tonnes) and Mantle's Cardiac Creek Deposit on nearby Akie property (where recently filed NI 43-101 report supports the estimated inferred resource of 23.6 million tonnes grading 7.6% Zn, 1.5% Pb and 13.0 g/t Ag at a 5% Zn cut off grade) - as reported in Mantle's news release dated August 11, 2008. Mantle's construction progress of new access roads will assist in Megastar's future plans by facilitating much less expensive year round drilling and safer operations for personnel and contractors.

ABOUT MEGASTAR DEVELOPMENT CORP.

Megastar Development Corp. is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Quebec and British Columbia. Megastar is listed on the TSX Venture Exchange under the trading symbol "MDV" and on the Frankfurt Stock Exchange under the trading symbol "M5Q".

To review the latest news, project summaries, and Company updates, investors and shareholders are invited to visit the Company's website at www.megastardevelopment.com. For more information on Megastar call (604) 683-6648.

ON BEHALF OF THE BOARD OF DIRECTORS

Dusan Berka, P. Eng., President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Megastar Development Corp.
    Dusan Berka, P. Eng.
    President and CEO
    (604) 683-6648
    (604) 683-1350 (FAX)
    Website: www.megastardevelopment.com