Alberta Star Development Corp.
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Alberta Star Development Corp.

August 25, 2005 13:07 ET

Alberta Star Receives Formal Approval for a 'Class A- 5 Year Drill Permit' for the Contact Lake Iron Oxide Copper, Gold, Silver, and Uranium Project in the Northwest Territories

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 25, 2005) - Tim Coupland, President and CEO of Alberta Star Development Corp., listed on the TSX Venture Exchange (ASX) and on the OTCBB (ASXSF), is pleased to announce that it has received formal approval from the Sahtu Land and Water Board (SLWB) for a "Class A- 5 year drill permit" at it's Contact Lake Iron oxide, copper, gold, silver, and uranium project located in Canada's Northwest Territories.

Alberta Star has demonstrated its commitment to the region by being engaged in the rigorous permitting process and completing all of the necessary requirements mandated by the SWLB. By completing the permitting process Alberta Star has also demonstrated to the local communities the value it places corporately on safety, environmental integrity, social responsibility and economic development. Alberta Star has received the necessary drill permitting, only after extensive consultation with local and regional First Nations aboriginal groups, and after having many discussions with local aboriginal elders regarding traditional aboriginal educational knowledge in the Great Bear Lake region of the Northwest Territories.

Alberta Star's President and CEO, Tim Coupland, who spent much of the summer at the Contact Lake project, commented: "This is a historic day for Alberta Star and for mineral exploration in the Great Bear Lake region of the Northwest Territories. We are the very first exploration company in over 8 years to receive a "Class A- 5 Year drill permit" in the Great Bear Lake Sahtu Land Settlement area for mineral exploration.

We are honored that we are the first exploration company to be fully permitted by the SLWB in this region. We have worked extremely hard to acquire these permits while simultaneously amassing a significant inventory of advanced stage previously explored and former past producing poly-metallic properties with historical resources and comprehensive data sets.

We were among the very first companies to begin acquiring advanced stage poly-metallic and uranium projects in this region, prior to the rapid rise of base and precious metals and uranium metal prices. Application for permitting was commenced as well. We made these strategic acquisitions through timely staking, which allowed us to assemble one of the largest contiguous land packages complete with detailed datasets in one of Canada's most historically famous iron oxide, copper, gold, silver, cobalt and uranium mineral districts.

Alberta Star would like to thank Chief Walter Bayha, the Sahtu Indians and the Community of Deline, Northwest Territories for their hard work, community input, hospitality and for their vote of support on the Contact Lake iron oxide copper, gold, silver and uranium project. We are hoping that this permitting for exploration drilling will lead the way for others in mineral exploration to once again invest and explore with this community in this extremely mineral rich district of Canada."

Alberta Star now owns a 100% interest in a large contiguous land package complete with datasets, historical production numbers, and the "Olympic Dam model", which was not fully understood until the early 1990's.

CONTACT LAKE NI 43-101 TECHNICAL REPORT COMPLETED ON THE CONTACT LAKE IRON OXIDE, COPPER, GOLD, SILVER AND URANIUM PROJECT

Alberta Star has recently completed and filed a comprehensive NI 43-101 report on the Contact Lake property with copper, gold, cobalt, silver and uranium mineralization identified in an iron, oxide, copper, gold ("IOCG")setting. The report can be viewed at www.sedar.com. The report was prepared in accordance with the guidelines of National Instrument 43-101 "Standards of Disclosure for Mineral Projects" and is based on data and geological information gathered form public sources, assessment files, historical information, Federal government maps, reports and assessment files. The source information of data presented in this technical report is believed to be reliable and accurate.

CONTACT LAKE "IRON OXIDE COPPER/ GOLD/ SILVER URANIUM PROJECT"

The Contact Lake iron oxide, copper, gold, silver, cobalt and uranium claim block consists of eleven contiguous claims located 5 km southeast of Port Radium on the east side of Great Bear Lake Northwest Territories and 423 miles north of the city of Yellowknife, and consists of 5835.59 hectares (14,420.82 acres). The Contact Lake project is located 5 kilometers from two past producing silver and uranium mines, the Echo Bay Mine (produced 23,779,178 ounces of silver) and the Port Radium, Eldorado Mine, ( produced 15 million pounds of uranium, and 8 million ounces of silver). The Contact Lake Mine situated on the Company's property is a former past producer of silver and high grade uranium. The Contact Lake mine produced 627,035 ounces of silver and 6,933 pounds of uranium between 1934-1979. The Contact Lake claim block and surrounding area covers extensive alteration zones including large mineralized gossans that can be traced for over 1 kilometer in length and over 200 meters in width. This area has been under-explored and has lacked advanced airborne exploration geophysics. The Contact Lake Mineral Belt is approximately 15 kilometers long. This is the northern extension of the same mineral belt that hosts Fortune Minerals NICO Gold-Cobalt-Bismuth deposit.

These large scale deposits are of a class that includes the 2 Billion Tonne Olympic Dam iron oxide, copper, gold, silver, REE and uranium (IOCG) deposit. The continuing search for iron oxide copper, gold, silver and uranium (IOCG) deposits has gained momentum in Canadian mineral exploration due to their large size potential and polymetallic grades of mineralization, including sizeable amounts of uranium.

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)
    www.alberta-star.com