Alberta Star Development Corp.
TSX VENTURE : ASX
OTCBB : ASXSF
FRANKFURT : QLD

Alberta Star Development Corp.

January 31, 2012 12:39 ET

Alberta Star Continues Production Growth and Reappoints Investor Relations Representative in Eastern Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2012) - Alberta Star Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF)(FRANKFURT:QLD) (the "Company") is pleased to announce that the Company has participated in successfully drilling, completing and bringing onto production another well situated on its Landrose property in west central Saskatchewan. As previously announced by the Company (see press releases dated November 17, 2011 and November 30, 2011) the Company participated in drilling, completing and equipping one (0.5 net) well located in the Company's core heavy oil operating area.

The Company is also pleased to announce that the Company has reappointed MI3 Communications Financieres Inc. ("MI3") as its investor relations and corporate communications service provider in Eastern Canada. MI3 has been retained for a period of three months, which will automatically renew for an additional three months, unless the agreement is earlier terminated. MI3 will be responsible for the dissemination of corporate data packages, broker presentations and communications, analyst communications and handling of shareholder enquiries regarding the Company in Eastern Canada. MI3 will receive $5,000 (plus H.S.T) per month in remuneration and be reimbursed for all approved expenses and the Company has granted MI3 stock options to acquire 50,000 shares in the capital of the Company at an exercise price of $0.25. The agreement and grant of options are subject to TSX Venture Exchange approval.

ABOUT MI3

MI3 is a full service investor relations firm based in Montreal, Quebec and headed by Mario Drolet. MI3 is a proactive results-driven firm that offers premium investor relations services to an international portfolio of client companies operating in a broad range of industries including oil & gas, mining and special situations. MI3 provides comprehensive investor relations representation to a wide and diverse Canadian audience through their offices in Montreal.

ALBERTA STAR DEVELOPMENT CORP.

The Company is a Canadian resource exploration and development company that identifies, acquires and finances oil and natural gas assets in Western Canada and advanced stage mineral exploration projects in North America. The Company has expanded its diversification into the oil and natural gas resource sector with the acquisition of revenue producing resource assets which compliments its existing, advanced stage mining interests. The Company is a junior heavy oil producer that is focusing on growing it's production base and maximizing future production through its exploration drilling activities, production acquisitions and strategic asset acquisition both domestically and in the international arena. The Company's strong balance sheet is expected to enable the Company to continue to increase it's production in the oil and gas sector.

INVESTOR RELATIONS

Investors are welcomed to contact Mario Drolet MI3 Communications Financiers Inc. at (514) 346-3813, the Company's Investor Relations specialists for all corporate updates, and investor inquiries.

Reader Advisory

Certain information in this Press Release is forward-looking within the meaning of certain securities legislation, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the production from the well and the Company's expectations regarding regulatory approval of the appointment and grant of stock options to MI3. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this Press Release describes the Company's expectations as of the date of this Press Release.

Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, commodity price and exchange rate fluctuations; reliance on contractual rights such as licenses and leases in the conduct of its business, reliance on third parties, reliance on key personnel, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, competition, environmental matters, and insurance or lack thereof and the other factors described under "Risk Factors" in the Company's annual reports and Form 20-F available in Canada at www.sedar.com, as well as on file with the U.S. Securities and Exchange Commission. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The Company cautions that the foregoing list of material factors is not exhaustive, is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alberta Star Development Corp.
    Tim Coupland
    President and CEO
    (604) 681-3131
    (604) 408-3884 (FAX)
    astar@telus.net

    Alberta Star Development Corp.
    Robert Hall
    Corporate Development, Director
    (604) 488-0860
    rthall@shaw.ca
    www.alberta-star.com

    MI3 Communications Financiers Inc.
    Mr. Mario Drolet
    Cell: (514) 346-3813 or Office: (514) 904-1333
    Mario@mi3.ca