Elysee Development Corp (ASXSF)

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Alberta Star consultant begins Dixie Lake tech report

Alberta Star Development Corp (TSX-V:ASX)
Shares Issued 27,262,032
Last Close 8/10/2004 $0.205
Tuesday August 10 2004 - News Release

Mr. Tim Coupland reports

ALBERTA STAR DEVELOPMENT ANNUAL GENERAL MEETING/SRK BEGINS RESOURCE
CALCULATION ESTIMATES

Alberta Star Development Corp. has carried out its annual general meeting of
shareholders held on Tuesday, Aug. 10, 2004. All resolutions proposed were
passed unanimously. The company will remain interlisted on both the TSX
Venture Exchange and on the NASD OTC Bulletin Board exchanges for wider
market exposure.

SRK Consulting Engineers & Scientists on-site to complete gold resource
estimate

SRK Consulting Engineers & Scientists are currently on-site at Dixie Lake
gold project, in Ontario. SRK is completing a comprehensive National
Instrument (NI) 43-101 technical review and preliminary resource estimate on
the Dixie Lake gold project for Alberta Star. The report, which has been
started, is expected to be completed by Sept. 15, 2004. Alberta Star has
completed over 8,500 metres of deep drilling over the past 12 months with its
partner Fronteer Development Group. Alberta Star has significantly upgraded
the gold resource potential of the Dixie Lake property, demonstrating that
high-grade gold mineralization is present over significant widths and that
the shoot geometry is both predictable and continuous over a vertical range
of at least 400 metres. The Dixie Lake Resource estimate will be prepared
according to industry best practices, as defined by the Canadian Institute of
Mining and Metallurgy (CIMM). An appropriate geological model will be
established in conjunction with developed economic parameters. Analysis will
seek to establish the statistical and spatial character of the gold
mineralization, in terms of grade, thickness variations, distribution of
refractory versus free gold and the extent to which the nugget effect affects
the mineralized sample population. The report will be comprehensive and will
be the cornerstone of upcoming studies, evaluations and strategic planning
for the company.

Alberta Star plans to use its flow-through proceeds to commence phase 4
drilling, which is expected to begin upon completion and evaluation of the NI
43-101 resource report estimates. The company plans to start aggressively
drill targeting additional high-grade gold shoots that have been identified,
and testing new geochemical and geophysical targets that exist on the
property.

Geological long section through the 88-4 zone showing the shoot geometry

Drilling highlights within the 88-4 shoot are shown in the table below.

 
  
 Drill hole No.    Length         Au  
                    (m)          (g/t)    
   
 DL-04-01           2.0           11.1 
 DL-04-02           1.0           10.3 
 DL-04-04           4.0           11.0 
 Including          2.1           18.5 
 DL-04-05           2.0            7.4 
 Including          1.1           11.2  
 DL-04-06           8.2           10.9 
 Including          5.1           15.1 
 Including          2.3           27.7 
 DL-04-07           1.8            5.0  
 DL-03-06           4.3            5.8 
 Including          0.9           12.0 
 DL-03-08           4.0           12.5 
 Including          1.5           24.7 
 DL-89-09           2.8           15.6 
 DL-04-08           1.3            7.4 
 DL-04-10           1.5            9.3 
  
 

Over the past 12 months, Alberta Star, the financing partner, has
significantly upgraded the resource potential of the Dixie Lake gold
property, demonstrating that high-grade gold mineralization is present over
significant widths and that its geometry is both predictable and continuous
over a vertical range of at least 400 metres.

Dixie Lake gold project

Alberta Star has been granted an option to earn up to 50-per-cent interest on
Fronteer's Dixie Lake gold property, situated 25 kilometres south of Placer
Dome's Campbell mine and Goldcorp's Red Lake mine in the Red Lake belt of
Ontario.

Assay results have been prepared under the guidance of Dr. Mark O'Dea, PGeo,
who is designated as a qualified person with the ability and authority to
verify the authenticity of and validity of these data. All core samples were
analyzed by ALS Chemex, North Vancouver, B.C., using ICP-AES and fire assay.