Alberta Star Development Corp.

Published : October 27th, 2014

Alberta Star Options Archie Lake Property from NioCorp; Alberta Star to Subscribe for Private Placement for $1,540,000

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Keywords :   Cerium | Gadolinium | Lanthanum |

Alberta Star Options Archie Lake Property from NioCorp; Alberta Star to Subscribe for Private Placement for $1,540,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 27, 2014) - Alberta Star Development Corp. (TSX VENTURE:ASX)(ASXSF)(FRANKFURT:QLD) ("Alberta Star") is pleased to announce the signing of an option agreement (the "Option Agreement") with NioCorp Developments Ltd. ("NioCorp") on NioCorp's 100% owned Archie Lake property (the "Property") located in northern Saskatchewan. As part and parcel to the Option Agreement, Alberta Star will subscribe for $1,540,000 (the "Private Placement") in NioCorp's previously announced brokered financing of special warrants ("Special Warrants") at a price of $0.55 per Special Warrant. See NioCorp's news release dated October 22, 2014 for more information regarding the Special Warrants.

Under the terms of the Option Agreement, Alberta Star will have the right to earn up to a 60% interest in the Property, which comprises one mineral claim totaling 2,108 hectares, by completing a total of $1,750,000 in qualifying work on the Property prior to October 20, 2017. The expenditures include completion of a minimum of $250,000 in work prior to October 20, 2015, a further $500,000 on or before October 20, 2016, and a further $1,000,000 on or before October 20, 2017. The Option Agreement is subject to the approval of the TSX Venture Exchange (the "TSXV") on behalf of both NioCorp and Alberta Star. In addition, Alberta Star's participation in the Private Placement is subject to the approval of the TSXV. The Property is subject to a 2% net smelter returns royalty in favour of past owners. Alberta Star and NioCorp are at arm's length. No finder's fees are payable in connection with the Option Agreement. Cash commissions may be payable in connection with Alberta Star's participation in the Private Placement.

Information Regarding the Archie Lake Property

The Property comprises one mineral claim totaling 2,108 hectares located approximately 50 km west of Uranium City and approximately 5 km north of Lake Athabasca, Saskatchewan. The Archie Lake claim is surrounded by Fission 3.0 Corp's Beaver River claims.

The Property is a syn-sedimentary, or paleo-placer type deposit. The rare earth elements are hosted within monazite crystals which can constitute as much as 50% of the rock. Monazite is a Ce-La-Nd- phosphate mineral that typically is more amenable to appreciable recoveries when compared to other rare earth bearing silicate minerals.

Historic assessment reports from the 1970s yield assays of up to 15.7% RE2O3, thorium and trace amounts of uranium. The main showing occurs within a 5 meter wide zone that is traceable for 600 meters. Individual rare earth elements are in the following order of abundance: lanthanum, cerium, neodymium, gadolinium, lutetium, terbium and ytterbium, with trace amounts of scandium and yttrium.

As part of a 2009 exploration program, approximately 250 meters of the mineralized zone was covered by the field crew. A total of 36 rock samples were collected from six historic trenches and one small blast pit at the property. Five samples exceeded the testing laboratory's detection limits for one to four of the lanthanides (Ce, La, Nd, and Pr) and a total of eighteen samples exceeded 2% REE+Y, of which six exceeded 5% REE+Y and three exceeded 10% REE+Y. One sample returned 29.9% REE+Y.

A 2010 exploration included a high resolution airborne magnetic and radiometric survey, property-wide prospecting and sampling, and surface sampling along the northerly strike extension of the known mineralized horizon. Highlights from the 2010 exploration included: confirmation of the geophysical signature associated with the rare earth element (REE) bearing horizon and identification of new target locations; samples from northerly extensions of the mineralized horizon return peak results of 3.32% total rare earth oxide (TREO); and identification of new locations of anomalous REE mineralization associated with parallel trends, with peak values of 0.73% TREO from surface outcrops.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts and the results of exploration activities - that could cause actual results to differ materially from Alberta Star's expectations are disclosed in Alberta Star's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Read the rest of the article at finance.yahoo.com

Alberta Star Development Corp.

EXPLORATION STAGE
CODE : ASX.V
ISIN : CA0130602075
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Alberta Star is a silver and gold exploration company based in Canada.

Alberta Star develops silver, gold and in Canada, and holds various exploration projects in Canada.

Its main asset in development is LANDROSE in Canada and its main exploration properties are NORTH ECHO BAY GOSSAN, SKINNY LAKE, LONG BAY, GREAT SLAVE, GREAT SLAVE, ELDORADO SOUTH, SOUTH ECHO BAY GOSSAN, K2 DISCOVERY ZONE, MAG HILL, MILE LAKE BRECCIA, CONTACT LAKE & ELDORADO, K4, MACINNIS LAKE PROJECT, SUNSHINE, GLACIER LAKE, NORTH CONTACT LAKE and CAMEL BACK in Canada.

Alberta Star is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 4.2 millions as of today (US$ 3.3 millions, € 3.0 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.85, and its lowest recent point on December 24, 2008 at CA$ 0.09.

Alberta Star has 21 150 000 shares outstanding.

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Annual reports of Alberta Star Development Corp.
Annual Report 2007
Nominations of Alberta Star Development Corp.
6/12/2013Confirms Special Distribution of $0.08 Per Share; Announces ...
Project news of Alberta Star Development Corp.
6/3/2011(Landrose)Re-Completes Its Newly Acquired Standing Cased Well at Landr...
5/13/2011(Landrose)Announces Increase in Its Landrose, Saskatchewan Property Ho...
7/14/2008(Eldorado)Receives Final Approval for a "Class A"-5 Year Drill Permit...
6/23/2008(Contact Lake)RECEIVES PERMISSION TO DRILL FOR 2008 FROM THE CHIEF INSPEC...
Corporate news of Alberta Star Development Corp.
7/15/2015Elysee Development Corp. Completes Name Change
3/6/2015Alberta Star to Voluntarily Terminate Its Share Registration...
3/6/2015to Voluntarily Terminate Its Share Registration in U.S.
10/27/2014Alberta Star Options Archie Lake Property from NioCorp; Albe...
10/20/2014Alberta Star Begins Permitting for Winter Drill Program at C...
9/17/2014Alberta Star Elects Not to Proceed With Proposed Change of B...
6/27/2014Alberta Star Receives Shareholder Approval of Proposed Chang...
6/12/2014Alberta Star Receives Conditional Approval for Change of Bus...
6/10/2014IIROC Trading Resumption - ASX
5/22/2014Alberta Star Proposes Change of Business
5/22/2014IIROC Trading Halt - ASX
5/6/2014Alberta Star Announces Approval of Normal Course Issuer Bid
4/30/2014Alberta Star Announces Normal Course Issuer Bid
2/18/2014TerraX Options Central Canada Gold Project to Alberta Star D...
5/13/2013Proposes Special Distribution
5/1/2013Announces Approval of Normal Course Issuer Bid
4/24/2013Completes Sale of Oil and Gas Assets for $1.875 Million
4/16/2013Announces Advance Notice Policy
4/9/2013Agrees to Sale of Oil and Gas Assets for $1.875 Million
3/27/2013Announces Annual Filings Under National Instrument 51-101-St...
10/15/2012Provides Corporate Update
10/15/2012Provides Corporate Update
6/27/2011(Landrose)Continues Production Growth and Starts Phase-3 Drilling at L...
4/21/2011Agrees to Participate Drilling Heavy Oil Well in the Blackfo...
4/14/2011Drills, Cases and Completes Blackfoot Heavy Oil Well
3/28/2011Announces Annual Filings Under National Instrument 51-101-St...
3/16/2011to Commence Drilling on the Blackfoot, Alberta Heavy Oil Pro...
3/9/2011Corporate Overview and 2011 Outlook
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1/27/2011Engages Southern Cross Energy to Source and Pursue Oil & Nat...
2/7/2008Continues to Proceed With Its "Access and Benefits Agreement...
9/27/2007Two Condensate Zones Discovered at Montello's Jointly Owned ...
3/1/2007Assay Results
3/24/2006(Eldorado)25000m drill permit deemed complete for drilling in the eldo...
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