Alberta Star Completes a Dominion of Canada Land Survey on its Glacier Lake Silver & Uranium Propertiesadmin
Wednesday, August 9th 2006
Alberta Star Development Corp. is pleased to announce that the Company has now successfully completed a formal legal land survey on its Glacier Lake silver and uranium properties. The Company will formally submit and file its legal plan of survey and application for lease, and notice of lease for the Glacier lake mineral properties to the Government of Canada Mine Recorders office. The survey to lease was performed in accordance with Canadian Mining Regulations by Sub-Arctic Surveys Ltd. of Yellowknife, NT. The total lease claim survey area completed consists of 2425.26 hectares (5,990.40 acres) and includes the Company’s Echo Bay Gossan and the Echo Bay Mine site. The principal Echo Bay mineshaft and adits are situated on the Company’s Echo claim, now forming part of the Glacier Lake and Echo Bay claim-block. The Echo Bay Mine is situated within the survey area and is a former past producer of silver, copper, and uranium. The Echo Bay mine formerly produced 23,779,178 ounces of silver and 9,230,547 pounds of copper.
THE CONTACT LAKE & ELDORADO IRON OXIDE COPPER, GOLD, SILVER AND URANIUM PROJECT
The Contact Lake & Eldorado IOCG and uranium projects are located on the east side of Great Bear Lake in Canada’s Northwest Territories. The projects are situated 670 kilometers north of the city of Yellowknife. The Company’s mineral tenure in the Eldorado Mineral Belt covers hundreds of known or recorded silver, copper, cobalt, rare earth elements, and high grade uranium occurrences situated in Proterozoic rock that correlates with rock of other IOCG deposits worldwide (Olympic Dam in western Australia, Kiruna Belt of Sweden). The Eldorado IOCG districts includes two past producing high grade silver and uranium mines, 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 Mine is a former past producer of silver and high-grade uranium. The Contact Lake and Eldorado Uranium Belts have long been recognized by geologists, as one of Canada’s most prospective Iron oxide copper, gold, silver and uranium regions. The current August 8, 2006 spot price for Uranium is now $47.25 US per pound.
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 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.
Contacts: Alberta Star Development Corp. Tim Coupland President and CEO (604) 681-3131
(604) 801-5499 (FAX)
Source: Alberta Star Development Corp.