Alberta Star Development Corp.
TSX VENTURE : ASX
OTC Bulletin Board : ASXSF

Alberta Star Development Corp.

October 15, 2007 09:01 ET

Alberta Star Intersects 24.75 Metres of High Grade 2.50% Lead, 0.49% Copper, 0.31% Zinc and 26.5 g/ton Silver at Echo Bay

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - Alberta Star Development Corp. (the "Company") (TSX VENTURE:ASX)(OTCBB:ASXSF) is pleased to report that the Company has intersected additional high grade poly-metallic zones at its Echo Bay IOCG & uranium target at the Eldorado & Contact Lake IOCG & uranium project. The Company has currently received assays on four holes from an 8-hole drill program on the Echo Bay IOCG & Uranium target. The four holes released include 24.75 meters of high grade IOCG style poly-metallic zones with 2.50% lead, 0.49% copper, 0.31% zinc and 26.50 g/ton silver. This interval also includes 4.50 meters of 8.38% lead, 0.50% copper, 0.68% zinc and 34.4 g/ton silver. Another mineralized zone of 15.50 meters 0.54% zinc and 0.20% copper and 3.29g/ton silver was also intersected. The Echo Bay IOCG & uranium target drill program was designed to re-evaluate the economic potential of the former Eldorado-Echo Bay silver and uranium mines and its untested surrounding area. The Echo Bay silver-uranium target area is located on the Company's property, on the north side of Echo Bay. All four drill holes reporting, intersected multiple zones of altered and mineralized poly-metallic zones with disseminated and vein hosted high grade copper, silver, lead and zinc. The Company's 2007 drill program was completed between May and October 2007 and consisted of over 19,600 meters of drilling, with over 73 holes drilled resulting in over 10,200 samples being collected and submitted for assaying.

A QAQC (quality assurance, quality control) program conducted by the Company which consisted of the introduction of standard, duplicate, and blank samples introduced into the sample sequence at irregular and random intervals to test the sampling and assay procedures. Standard samples were prepared by Acme Analytical Laboratories Ltd. ("Acme") of Vancouver, British Columbia. All drill core samples were prepared, bagged and sealed by the Company's supervised personnel and were transported by plane to Acme facilities in Yellowknife, NT where they were crushed and pulped, and then transported to Acme's main laboratories in Vancouver, British Columbia for assaying. Acme is a fully registered analytical lab for analysis by ICP-MS and ICP-FA techniques. Samples were subjected to aqua regia digestion and analyzed for 40 elements and induced coupled plasma-mass spectrometry (ICP-MS) following four acid digestions (HF, HCIO4, HNO3 and HCI). All analysis for Cu, Ag, Au, U, Co, Ni, Bi, Pb, Zn and W which exceeded upper limits were re-assayed using ICPFA method to obtain correct values.

Highlights from significant mineralized down hole intervals from the four new holes include:

- EBM-07-06 intersected 7.50 meters of 0.18% copper and 0.12% zinc within that 1.50 meter 0.42% copper. Another zone of 0.58 meter of 0.43% lead was also intersected in this drill hole.

- EBM-07-08 intersected 24.75 meters of 2.50% lead, 0.49% copper, 0.31% zinc and 26.50 g/ton silver, within that 4.50 meters of 8.38% lead, 0.50% copper, 0.68% zinc and 34.4 g/ton silver. Also several mineralized zones enriched in copper, lead or zinc were intersected in this drill hole.

- EBM-07-09 intersected several zinc-bearing zones including 3.0 meters of 0.27% zinc, 2.9 meters of 0.38% zinc, 1.5 meters of 0.20% zinc and 6 meters of 0.22% zinc. Also 1.5 meters of 0.27% copper was intersected.

- EBM-07-12 intersected 15.50 meters of 0.54% zinc and 0.20% copper and 3.29 g/ton silver including 2 meters of 0.16% copper, 0.30% lead, 1.27% zinc and 3.33 g/ton silver. Other mineralized zones include 3 meters of 0.43% lead and 0.14% zinc and 4.0 meters of 0.1% copper, 0.56% lead, 0.19% zinc; 3 meters 0.16% lead and 0.39% zinc.

The accompanying table gives a summary of drilling highlights and assay results from the first four holes at Echo Bay IOCG and uranium target.



ECHO BAY Drill Summary

DRILL HOLE RESULTS

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Drill Hole From To Interval Cu% Pb% Zn% Ag (g/ton) Au (g/ton)
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EBM-07-06 4.55 12.05 7.50 0.18 0.04 0.12 1.4 0.1
6.05 7.55 1.50 0.42 0.05 0.05 1.5 0.1
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13.55 15.05 1.50 0.22 0.02 0.04 0.7 0.1
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22.50 24.00 1.50 0.19 0.01 0.04 0.6 0.1
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55.5 56.08 0.58 0.01 0.43 0.01 1.9 0.1
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Inter- Ag
Drill Hole From To val Cu (%) Pb (%) Zn (%) (g/ton) Ni (%) Co (%)
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EBM-07-08 29.40 61.20 31.80 0.17 0.03 0.08 0.9 0.04 0.04
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35.40 38.40 3.00 0.59 0.01 0.01 2.1 0.04 0.05
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48.90 50.40 1.50 0.11 0.16 0.74 1.0 0.06 0.04
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64.20 65.70 1.50 0.16 0.02 0.11 0.6 0.02 0.05
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79.20 86.70 7.50 0.11 0.00 0.00 0.4 0.03 0.07
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128.70 130.20 1.50 0.09 0.04 0.31 1.6 0.01 0.03
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137.70 139.20 1.50 0.06 0.02 0.67 6.2 0.02 0.01
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142.20 166.95 24.75 0.49 2.50 0.31 26.5 0.03 0.06
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151.95 153.45 1.50 0.35 5.54 1.35 33.4 0.03 0.02
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160.95 165.45 4.50 0.50 8.38 0.68 34.4 0.06 0.09
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166.95 180.45 13.50 0.08 0.13 0.12 1.3 0.01 0.01
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171.45 172.95 1.50 0.33 0.62 0.26 3.1 0.00 0.01
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192.95 195.95 3.00 0.24 0.02 0.01 1.6 0.01 0.01
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195.95 202.39 6.44 0.08 0.21 0.36 3.2 0.02 0.02
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Inter- Ag
Drill Hole From To val Cu (%) Pb (%) Zn (%) (g/ton) Ni (%) Co (%)
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EBM-07-09 12.40 15.40 3.00 0.06 0.08 0.27 0.30 0.02 0.01
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30.40 31.90 1.50 0.06 0.01 0.14 0.10 0.04 0.02
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34.90 36.40 1.50 0.04 0.03 0.15 0.10 0.03 0.01
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40.90 43.89 2.99 0.02 0.05 0.38 0.20 0.01 0.01
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93.90 95.40 1.50 0.01 0.05 0.20 0.40 0.01 0.01
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108.90 110.90 2.00 0.12 0.00 0.01 0.48 0.05 0.03
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200.55 206.55 6.00 0.04 0.01 0.22 0.33 0.02 0.01
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233.55 235.05 1.50 0.09 0.06 0.17 0.80 0.08 0.04
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242.55 245.55 3.00 0.11 0.00 0.02 0.60 0.06 0.03
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260.55 262.05 1.50 0.12 0.02 0.02 1.00 0.01 0.01
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278.40 279.90 1.50 0.27 0.00 0.02 0.60 0.00 0.01
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281.40 282.90 1.50 0.02 0.04 0.15 1.60 0.02 0.01
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Inter- Ag
Drill Hole From To val Cu (%) Pb (%) Zn (%) (g/ton) Ni (%) Co (%)
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EBM-07-12 10.00 11.50 1.50 0.15 0.44 0.02 6.40 0.02 0.01
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29.50 32.50 3.00 0.05 0.43 0.14 3.35 0.01 0.01
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37.00 38.50 1.50 0.01 0.11 0.09 1.50 0.00 0.01
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44.50 47.50 3.00 0.15 0.02 0.11 1.25 0.01 0.01
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56.50 58.00 1.50 0.05 0.02 0.16 0.50 0.01 0.01
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59.50 61.00 1.50 0.05 0.01 0.17 0.40 0.01 0.01
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76.50 78.00 1.50 0.02 0.09 0.21 0.40 0.00 0.01
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85.50 89.50 4.00 0.10 0.56 0.19 2.76 0.00 0.01
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89.50 91.00 1.50 0.08 0.10 0.21 1.10 0.00 0.01
----------------------------------------------------------------
95.00 98.00 3.00 0.02 0.16 0.39 1.05 0.00 0.01
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107.00 122.50 15.50 0.20 0.09 0.54 3.29 0.01 0.03
111.50 113.00 1.50 0.38 0.25 1.63 10.10 0.02 0.03
120.50 122.50 2.00 0.16 0.30 1.27 3.33 0.01 0.02
----------------------------------------------------------------
122.50 123.50 1.00 0.04 0.06 0.12 1.20 0.02 0.02
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128.50 129.00 0.50 0.03 0.01 0.14 1.40 0.02 0.02
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139.50 141.00 1.50 0.02 0.07 0.18 0.30 0.01 0.01
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145.50 148.50 3.00 0.02 0.07 0.14 0.45 0.02 0.01
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151.50 153.00 1.50 0.04 0.03 0.24 0.80 0.02 0.02
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173.84 176.84 3.00 0.05 0.01 0.37 4.00 0.00 0.02
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Metal values as at today's market price. Gold $748.60 US per ounce, Copper
$3.68 per pound, Silver $13.77 US per ounce, Cobalt $30.35 US per pound,
Zinc $1.40 US per pound, Lead $1.78 US per pound, nickel $14.38 US per
pound, vanadium $7.50 and Uranium $75.00 US per pound as of October 13,
2007.

Note: Due to strong hydrothermal alteration which destroyed the original
layering of the host volcanic rocks, true thickness has not been calculated
for these holes.

Pictures of the Eldorado IOCG & Uranium Project drill core may be viewed at
the Company's Website at www.alberta-star.com.


Drill hole EBM-07-06 and EBM-07-08 and EBM-07-09 are in a NW-SE trending row section in which EBM-07-06 is 180 m away from EBM-07-08. EBM-07-08 is 43 meters away from EBM-07-09. Inclination and azimuth for these holes are: EBM-07-06: 50 degree inclination and 315 degree azimuth. EBM-07-08: 45 degree inclination and 135 degree azimuth, EBM-07-09: 55 degree inclination and 135 degree azimuth. Drill hole EBM-07-12 is another NW-SE trending row section which is parallel and 200 m away from the above-mentioned row. This hole has a 45 degree inclination and 315 degree azimuth. As soon as complete assay results are received for the other drill holes in these row sections the Company will release the information.

THE ELDORADO & CONTACT LAKE IRON OXIDE COPPER, GOLD, SILVER AND URANIUM PROJECTS

The Eldorado & Contact Lake Permit Areas are located on the east side of Great Bear Lake in Canada's Northwest Territories. The permit areas are situated 470 kilometers north of the city of Yellowknife. The total size of the Eldorado & Contact Lake Permit area covers over 98,027.77 acres in size. The Eldorado & Contact IOCG & uranium project areas include five past producing high grade silver and uranium mines. This includes the Echo Bay Silver Mine which produced 23,779,178 ounces of silver and the Eldorado Uranium Mine which produced 15 million pounds of uranium and 8 million ounces of silver. The Contact Lake Silver and Uranium Mine, Bonanza and El Bonanza Silver and Uranium mines are included within the Company's land ownership package. Olympic Dam volcanic hosted hydrothermal iron-oxide copper, gold (IOCG) style of deposits are attractive targets for exploration and development due to their poly-metallic nature, high unit value and enormous size and grade tonnage potential. The Eldorado Mineral Belt which is situated in the Great Bear Magmatic zone, NWT, has long been recognized by geologists, as one of the most prospective iron oxide copper, gold, silver and uranium regions in northern Canada.

ALBERTA STAR DEVELOPMENT CORPORATION

Alberta Star Development Corp. is a Canadian mineral exploration company that identifies, acquires and finances advanced stage mineral exploration projects in Canada. The Company is committed to creating long term shareholder value through the discovery of base and precious metals and uranium.

ALLAN FELDMAN-INVESTOR RELATIONS

Investors are welcomed to contact Mr. Allan Feldman, the Company's Investor Relations and Corporate Communications Specialist, for all corporate updates at (604) 948-9663.

ALBERTA STAR DEVELOPMENT CORP.

Tim Coupland, President & CEO

Lou Covello, B.Sc., P.Geo. is the qualified person for the Eldorado & Contact Lake IOCG Projects.

These results have been prepared under the supervision of Lou Covello, B.Sc., P.Geo, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of this data. All rock samples were analyzed by Acme Analytical Laboratories Ltd. ("ACME") in Vancouver B.C., Canada using ICP-MS and ICP-FA analysis techniques.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. For further information investors should review the Company's filings that are available at www.sedar.com or contact Tim Coupland, President at (604) 681-3131.

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

Contact Information

  • Alberta Star Development Corp.
    Tim Coupland
    President and CEO
    (604) 681-3131
    (604) 408-3884 (FAX)
    Website: www.alberta-star.com