Alberta Star Development Corp.

Alberta Star Development Corp.

March 23, 2005 13:31 ET

Alberta Star Options the Great Slave Copper-Gold Project from Fortune Minerals


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ALBERTA STAR DEVELOPMENT CORP.

TSX VENTURE SYMBOL: ASX
OTC Bulletin Board SYMBOL: ASXSF

MARCH 23, 2005 - 13:31 ET

Alberta Star Options the Great Slave Copper-Gold
Project from Fortune Minerals

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Alberta
Star Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF) is pleased to
announce that it has entered into an option agreement with Fortune
Minerals Limited (TSX-FT) whereby Alberta Star can earn a 50% interest
in Fortune's Great Slave copper-gold project in the Northwest
Territories. The claims are comprised of 2,069 hectares located between
Great Slave Lake and Meridian Lake, 10 kilometres southwest of Fort
Reliance and 250 kilometres northeast of the City of Yellowknife.
Alberta Star can earn its interest by making aggregate cash payments of
$80,000 to Fortune and incurring exploration expenditures totalling $1.2
million over four years. Fortune will be the Operator of the property,
but Alberta Star will manage exploration during the first year of the
agreement.

Significant work was carried out on the Great Slave copper-gold claims
during the 1960's, including geological mapping, excavation of 12
surface trenches, and 10 holes drilled to an average depth of 100
metres. This work identified extensive copper, gold and silver
mineralization within a 4km strike length of the Murky Lake Fault, a
splay from the regionally important MacDonald Fault. The last known
geological report from the property, prepared in 1969, before the
implementation of National Instrument 43-101, report results of sampling
five trenches across the "A Zone". They range from 7 metres averaging
0.66% copper in Trench 5 to 45 metres returning a length weighted
average grade of 0.58% copper in Trench 2. Assays up to 1.37% copper
were also reported from samples collected from the "B" and "C Zones". No
precious metal values were reported from any surface sampling.

The 1969 report mentions that all 10 holes drilled to test the "A", "B"
and "D Zones" intersected mineralization over an average width of
approximately 30 metres. Only results for hole No. 5 were reported,
which averaged 0.7% copper, 1.2 grams/tonne gold and 152 grams/tonne
silver over 27.7 metres, including a 0.61 metre section grading 153
grams/tonne gold (4.44 ounces/ton) and a second 1.5 metre interval
grading 11.03 grams/tonne gold (0.32 ounces/ton). The report recommends
a follow-up program of ground geophysical surveys and additional
drilling, but there is no evidence that this work was ever carried out.

The Great Slave copper-gold project was staked by Fortune in 2002 after
carrying out a regional study of known deposits and mineral occurrences
around the Great Slave Lake inland transportation corridor. This study
recognized an extensive 30-metre wide mineralized system in the area
that could be traced for a minimum 4-kilometre strike length within a
major regionally important structure. It contains locally high values of
both gold and silver, but was not systematically assayed for precious
metals. Recommended programs were also not followed-up. Fortune Minerals
and Alberta Star are excited about this opportunity and plan to conduct
a program of geological mapping and Induced Polarization geophysical
surveys as soon as weather conditions permit. Robin Goad, M. Sc., P.
Geo. President of Fortune Minerals is the Qualified Person responsible
for this news release.

ALBERTA STAR DEVELOPMENT CORPORATION

Alberta Star is a leading Canadian mineral exploration company that
identifies, acquires, finances and develops advanced staged exploration
projects in Canada. Alberta Star is primarily focused in the discovery
base and precious metals and uranium. Alberta Star's focus is to acquire
exploration properties where proper due diligence has indicated that
there is a reasonable expectation of identifying and yielding a
world-class deposit for its shareholders.

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

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
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)
    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.