Elysee Development Corp (ASXSF)

[Montanore]

April 21, 2010
ALBERTA STAR ANNOUNCES THAT IT WAS UNSUCCESSFUL IN ITS BID TO ACQUIRE THE STERLING MINING COMPANY

Alberta Star Development Corp. (the "Company") (TSXV - ASX) announces that the Company was unsuccessful in its bid to acquire 100% of the shares of Sterling Mining Company ("Sterling") and the Sunshine Mine Lease pursuant to a bankruptcy auction held on April 21, 2010. As a result of the unsuccessful bid, the Company has confirmed that certain conditions contained in the Acquisition Agreement (the "Agreement") with Sterling Mining Company dated November 17, 2009 have not been satisfied in accordance with the terms of the Agreement (see the Company's press release dated November l, 2009). As a result of the unsatisfied conditions, the Company will pursue a compensation fee of US$250,000 in accordance with the terms of the Agreement and the Second Amended Plan and Disclosure Statement filed by Sterling.