Megastar Development Corp.
TSX VENTURE : MDV

Megastar Development Corp.

April 10, 2006 03:10 ET

Megastar Appoints Philippe Cloutier, P. Geo as Advisor

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2006) - Megastar Development Corp. (TSX VENTURE:MDV) is very pleased to announce that Philippe Cloutier, P.Geo has joined Megastar's Advisory Board. Mr. Cloutier brings to Megastar over 18 years of experience in the mining exploration and development business. Mr. Cloutier is currently Vice President Exploration for Alexis Minerals Corp., and previously has worked for industry leaders such as Noranda Inc., Aur Resources Inc., and Soquem specialized mostly in VMS Cu-Zn type deposits.

Mr. Cloutier has had a discovery-oriented career. He has played an instrumental role in the discovery and delineation of Noranda's Bell-Allard South Cu-Zn Mine in Matagami, Quebec. More recently, as V.P. Exploration for Alexis Minerals Corp., Mr. Cloutier has been involved in the discoveries of the Montbray and West Ansil VMS Deposits located in Rouyn-Noranda, Quebec.

Throughout his career, Mr. Cloutier has gained a vast experience in deep drilling (greater than 1000m) techniques, Borehole Pulse EM geophysical targeting, Titan24 surveying, and geochemical/geological interpretation with respect to Volcanogenic Massive Sulphide Deposits.

As compensation for services to be rendered to the advisory board, Megastar has granted incentive stock options to Mr. Cloutier under the company's stock option plan for a total of 75,000 common shares at an exercise price of 22 cents for a period of five years.

Dusan Berka, P. Eng., Megastar's President & CEO, states that, "Mr. Cloutier's experience in VMS environments and exploration techniques will greatly help establish priority targets on our ongoing exploration program at the Ralleau VMS Property. In addition, Mr. Cloutier will provide us with added expertise in evaluating our deep-seated VMS Titan24 targets on the company's Simkar Project situated in the Val d'Or Mining Camp, Quebec."

Other

The Company wishes to announce that all 600,000 outstanding warrants at a price of 23 cents pursuant to the non-brokered private placement financing dated April 2, 2004 have been exercised for total proceeds of $138,000.

Megastar Development Corp. is an emerging resource company engaged in the acquisition, exploration, and development of mineral properties. Megastar Development Corp. is listed on the TSX Venture Exchange, under the trading symbol "MDV". For further information, investors and shareholders are invited to visit the Company's website at www.megastardevelopment.com or contact KCrew Communications at 1-866-465-3616.

ON BEHALF OF THE BOARD OF DIRECTORS

Dusan Berka, P.Eng., President & CEO


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Megastar Development Corp.
    Dusan Berka, P.Eng.
    President & CEO
    (604) 683-6648
    (604) 683-1350 (FAX)
    or
    KCrew Communications
    1-866-465-3616
    www.megastardevelopment.com