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

Alberta Star Development Corp.

January 31, 2006 09:30 ET

Alberta Star Makes Formal Application for an Additional 25,000 Meter 'Class A-5 Year Drill Permit'

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 31, 2006) -

For its Eldorado Iron Oxide Copper, Gold, Silver, and Uranium Project in the Port Radium Uranium District

Alberta Star Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF), listed on the TSX Venture Exchange (ASX) and on the OTCBB (ASXSF), is pleased to announce that it has made formal application for an additional 25,000 meter drill program at Port Radium/Eldorado uranium district and is awaiting final approval from the Sahtu Land and Water Board (SLWB) for this "Class A-5 year drill permit", at its Eldorado Iron oxide, copper, gold, silver, and uranium project located in Canada's Northwest Territories.

Tim Coupland, President & CEO commented: "This is good news for Alberta Star and for mineral and uranium exploration in Canada and the Great Bear Lake region of the Northwest Territories. Alberta Star intends to develop an area with a history of high grade mineral production that is recognized to be one of the most prospective IOCG areas anywhere in the world. The Port Radium- Eldorado uranium district was one of the top uranium producing areas in Canada during the 1930's and 1940's, with over 15 million pounds of historic uranium production. Alberta Star has now completed one full season of comprehensive exploration and confirmed the presence of high grade copper, gold silver, cobalt, nickel, bismuth and uranium mineralization in an area that has not been properly explored using advanced 21st century geophysical exploration techniques and incorporates the newly developed IOCG-epithermal deposit model type applications. This regional land package, which contains six former and past producing silver and uranium mines, will now allow Alberta Star to gain maximum exposure to all base and precious metals including uranium during the upcoming 2006 drilling season. Alberta Star is actively involved in the continuing search for iron oxide, copper, gold, silver and uranium (IOCG) deposits which has gained momentum in Canadian mineral exploration due to their large size potential and poly-metallic grades of mineralization including sizeable amounts of uranium. This second 25,000 meter drill permit will now allow Alberta Star to focus additional exploration and diamond drilling in two distinct areas between Contact Lake and the Port Radium, Echo Bay, Crossfault Lake uranium mine, and Eldorado mine areas with history of high grade poly-metallic and uranium mineral production. Alberta Star has assembled a highly regarded IOCG technical group of experts with advanced uranium exploration expertise that will oversea the direction of the project."

The current January 30, 2006 spot prices in $US: Uranium $37.00 US per pound, and Gold $568.20 oz.

ALBERTA STAR DEVELOPMENT CORPORATION

Alberta Star is a Canadian mineral exploration company that identifies, acquires, finances advanced stage exploration projects in Canada. Alberta Star is focused in the discovery of base and precious metals and uranium.

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. Hamid Mumim Ph.D., P.Eng. is the qualified person for the Contact Lake 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.


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) 801-5499 (FAX)
    or
    Alberta Star Development Corp.
    Mr. Allan Feldman
    Investor Relations and Corporate Communications Specialist
    (604) 948-9663
    www.alberta-star.com