Megastar Development Corp

Published : November 05th, 2008

ADVANCES SIMKAR GOLD PROPERTY AT VAL D’OR, QUEBEC

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Keywords :   Canada | Gold | K Street |
MEGASTAR DEVELOPMENT CORP.
____________________________________________________________________________________________________________________________________________________
#600 - 625 Howe Street, Vancouver, BC, Canada V6C 2T6
Tel.: (604) 683-6648 / Fax: (604) 683-1350
www.megastardevelopment.com
TSX-V: MDV / Frankfurt: M5Q

November 5, 2008
"NEWS RELEASE"
 
MEGASTAR ADVANCES SIMKAR GOLD PROPERTY AT VAL D�OR, QUEBEC
 
The company is pleased to report that further exploration is continuing on the Simkar Gold Project located in Val d'Or, Quebec.
 
The company has identified a target area known as the Montana Zone where previous sampling on surface returned 57.6 g/t Au over 1.07 m. (GM 49481). Follow-up drilling over 33 holes, to a depth of 60 meters, identified a series of three separate sub-parallel sulfide veins approximately 10 meters apart and returning gold mineralization of potential economic interest over a 45-meter strike length, open to the west and to depth. Preliminary resource calculated following the drilling outlined a modest resource of 8.26 g/t Au diluted over an average width of 1.8 meters (pre 43-101 guidelines). This work shows that a significant potential exists for near-surface mineralization and the high grade obtained from the individual sulfide veins adds to this potential. In addition, recent grab samples taken on surface to the west of the drilling identified the Montana Zone and returned 2.91 g/t Au, 1.68% Cu and 18.6 g/t Ag, which could indicate polymetalic potential as well.
 
A surface stripping and sampling program within the Montana Zone area is now under way with a focus on better understanding the style of the mineralization and the prevalent structure control. Results of this work will help establish the potential for near-surface bulk tonnage mineralization.
 
The Simkar Property exploration program is supervised by Mr. Michel Proulx, P. Geo, a Qualified Person as defined under NI 43-101 guidelines.
 
ABOUT MEGASTAR DEVELOPMENT CORP.
 
Megastar Development Corp. is a 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, call the office at 604-683-6648, or contact D. Cameron Stretch at 604-961-9795.
 
ON BEHALF OF THE BOARD OF DIRECTORS
 
�DUSAN BERKA�
 
Dusan Berka, P. Eng.
President and CEO
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Megastar Development Corp

PRODUCER
CODE : MDV.V
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Megastar Development is a gold and copper exploration company based in Canada.

Megastar Development produces gold, copper, lead, silver and zinc in Canada, and holds various exploration projects in Canada.

Its main asset in production is SEDEX in Canada and its main exploration properties are RALLEAU and SIMKAR in Canada.

Megastar Development is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 3.2 millions as of today (US$ 2.5 millions, € 2.1 millions).

Its stock quote reached its highest recent level on March 26, 2010 at CA$ 0.76, and its lowest recent point on February 19, 2016 at CA$ 0.02.

Megastar Development has 28 996 716 shares outstanding.

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Annual reports of Megastar Development Corp
Annual Report 2007
Financings of Megastar Development Corp
6/21/2011Amends Financing
6/3/2011Arranges Financing
4/1/2011MEGASTAR ANNOUNCES REORGANIZATION AND A NEW DIRECTOR
Project news of Megastar Development Corp
2/28/2011(Ralleau)Receives Final Report on the Ralleau Copper-Zinc Project in ...
11/5/2008(Simkar)ADVANCES SIMKAR GOLD PROPERTY AT VAL D’OR, QUEBEC
9/16/2008Quebec Property 43-101 Inferred Resource Estimate Yields 105...
1/30/2008(Simkar)ADVANCING SIMKAR GOLD MINE
Corporate news of Megastar Development Corp
9/1/2016Revised Stock Options
6/23/2015megastar receives consent for extension of warrants
11/27/2014megastar announces results of annual general meeting
5/7/2013oration: News Release
1/30/2013.: News Release
6/5/2012News Release
3/21/2012News Release
5/4/2011News Release
3/17/2011Announces Completion of Plan of Arrangement and Distribution...
2/15/2011News Release
10/12/2007ACCRUES LEADER FOR TWO-TIER MISSION
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TSX-V (MDV.V)Other OTC (MSTJF)
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