Alberta Star Development Corp.

Alberta Star Development Corp.

February 28, 2005 09:30 ET

Alberta Star Completes the Purchase of the Macinnis Lake Uranium Properties and Appoints Jan Klein P.Eng., P. Geo., as Consulting Geophysicist for the Macinnis Lake Uranium Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ALBERTA STAR DEVELOPMENT CORP.

TSX VENTURE SYMBOL: ASX
OTC Bulletin Board SYMBOL: ASXSF

FEBRUARY 28, 2005 - 09:30 ET

Alberta Star Completes the Purchase of the Macinnis
Lake Uranium Properties and Appoints Jan Klein P.Eng.,
P. Geo., as Consulting Geophysicist for the Macinnis
Lake Uranium Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 28, 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 Alberta Star has completed the purchase of a 100%
interest in the 18,953.64 acre MacInnis Lake uranium properties located
in the Northwest Territories.

ALBERTA STAR HAS APOINTED JAN KLEIN P.ENG., P.GEO., AS CONSULTING
GEOPHYSICIST FOR THE MACINNIS LAKE URANIUM PROJECT

Jan Klein M.Sc., P. Eng., P. Geo., consulting geophysicist has been
appointed to review all historical geophysical and exploration drilling
data for the MacInnis Lake uranium project. It is expected that a
comprehensive geophysical recommendation on the MacInnis Lake project
will be forthcoming. Jan Klein was chief geophysicist with Cominco Ltd.
prior to his retirement in 1998. Jan Klein has 37 years of mineral
experience in Canada, the United States, Europe, Africa and Australia
and has been involved in the discovery of several deposits. He received
a Masters in Mining Engineering with honours in exploration from the
Technical University of Delft, Netherlands. Mr. Klein is a registered
professional engineer and geoscientist.

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 has been extensive
and was commenced in 1954 with the discovery of large uranium outcrops
and widespread surface uranium mineralization. Uranium exploration
continued extensively until 1988 and involved companies such as Cominco,
Shell, PNC, and Uranerz. The MacInnis Lake area is situated in the
Nonacho Group and is recognized as an Unconformity Type Uranium deposit.
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 for the MacInnis Lake uranium project.

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. Alberta
Star may purchase half of the NSR for a one time payment of 1 million
dollars.

Spot uranium prices have risen from a cyclical low of US$7.10 /per pound
in late 2000 to US$21.75 per pound today, a recent 20 year-high.

Based on uranium's current spot price of US$21.75 / per pound and its
stable longer term price projections, Alberta Star, will prepare a
comprehensive spring and summer exploration program on the MacInnis Lake
uranium Property to further explore and expand historical uranium drill
targets, and take advantage of its large property portfolio in the NWT.
The Northwest Territories situated in Canada's far north is expected to
maintain a leading position as a premier uranium exploration
destination. The Northwest Territories is recognized as a very large
former uranium producer, but this uranium production came to a
standstill due to the many years of depressed uranium prices.

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 MacInnis Lake
uranium 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)
    Website: 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.