MEGASTAR DEVELOPMENT CORP.                                                                        
October 10, 2007

 
Megastar Development Corp. (TSX-V: MDV; Frankfurt: M5Q), is pleased to announce the appointment of David Bikerman, director, as President & CEO of the company. Mr. Bikerman holds three university degrees, in mine engineering and mineral economics, including the advanced degrees of Engineer of Mines (1995) and Master of Science (1985) from Columbia University in New York City. David taught Mine Plant Design at the Henry Krumb School of Mines at Columbia University and has worked as an independent consultant to the United Nations, as an Associate with Behre Dolbear & Co., and for various mining companies over twenty years. His responsibilities have included feasibility studies, project resource and reserve analyses, design, construction, and operation of numerous mines around the world. David is a high-energy, results-oriented leader with a proven track record for corporate development and leadership.

"I?m very excited to join Megastar?s management team. Now is the time for Megastar to gain rapid growth in its asset base by executing our new two-tier mission of pursuing aggressive work programs on the current portfolio of gold and VMS projects while actively seeking mineral property acquisition in Canada and elsewhere in the Americas,? Mr. Bikerman stated.

Dusan Berka has stepped aside as President and will retain the role of Chairman and director. Mr. Berka commented: ?Mr. Bikerman brings a wealth of experience and is widely recognized for his operational excellence and speed of execution. David is expecting to accelerate our corporate objectives, implement the new strategic plan and create new momentum with determined focus on enhancing shareholder value. We are pleased to have someone of David?s experience and expertise to join our management team. We look forward to his guidance and leadership. The Company will push the envelope to new heights by leveraging world-class partnerships, properties and personnel to create a market cap that will truly excite current and future shareholders".
 
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?. For further information, investors and shareholders are invited to visit the Company?s website at www.megastardevelopment.com  or contact D. Cameron Stretch at 604-961-9795, or Coal Harbor Communications at 604-662-4505 or Toll-free 1-877-642-6200.
 
ON BEHALF OF THE BOARD OF DIRECTORS
 
?DUSAN BERKA?
 
Dusan Berka, P. Eng.
Chairman & Director

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.