🕐29.08.08 - 08:54 Uhr
MEGASTAR ACQUIRES ADDITIONAL SEDEX CLAIMS IN NORTHERN BC
TSX-V: MDV
Frankfurt: M5Q
August 29, 2008
"NEWS RELEASE"
MEGASTAR ACQUIRES ADDITIONAL SEDEX CLAIMS IN NORTHERN BC
Megastar Development Corp.
(TSX-v: MDV; Frankfurt: M5Q) is pleased to
announce that Mantle Resources Inc.
has completed its commitment to transfer
all 100% right, title and interest in and to ten mineral claims in the
world-class Kechika Trough sedex zinc basin located in North-eastern B.C.
The ten additional claims, located within an area of mutual interest defined
in the March 2007 option agreement between Megastar and Mantle, were
acquired by Mantle subsequent to signing the Megastar Option Agreement.
Mantle completed its first year obligations under the agreement.
The work
program was successful in locating several areas and trends of zinc, lead
and silver bearing exhalative horizons within the underlying formations on
Megastars ground.
Subsequently, the option agreement between Megastar and
Mantle was terminated by mutual consent in April 2008, when the parties were
unable to agree upon amended terms.
As a result of ten new claims
transferred to Megastar, Megastar now has a clear title and 100% interest in
a total of 33 mineral claims covering 22, 461 ha.
"I want to thank Mantle
for the professional and timely manner in which they executed their
commitments..." said Dusan Berka.
Megastars 100% owned SEDEX zinc-lead-silver properties are adjacent to and
along strike the favorable geology which is host to several significant zinc
deposits including TeckCominco/Korean Zincs Cirque and South Cirque
Deposits (totaling a combined geological inventory in excess of 50 million
tonnes) and Mantles Cardiac Creek Deposit on nearby Akie property (where
recently filed NI 43-101 report supports the estimated inferred resource of
23.6 million tonnes grading 7.6% Zn, 1.5% Pb and 13.0 g/t Ag at a 5% Zn cut
off grade) - as reported in Mantles news release dated August 11, 2008.
Mantles construction progress of new access roads will assist in Megastars
future plans by facilitating much less expensive year round drilling and
safer operations for personnel and contractors.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp.
is an emerging resource company engaged in the
acquisition, exploration and development of mineral properties in Quebec and
British Columbia.
Megastar is listed on the TSX Venture Exchange under the
trading symbol "MDV" and on the Frankfurt Stock Exchange under the trading
symbol "M5Q".
To review the latest news, project summaries, and Company updates, investors
and shareholders are invited to visit the Companys website at
www.megastardevelopment.com.
For more information on Megastar call (604)
683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
Duan Berka
Duan Berka, P.
Eng., President & CEO
Megastar Development Corp.
www.megastardevelopment.com
T: 001-604-683-6648
F: 001-604-683-1350
C: 001-604-341-3195
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