Alberta Star Development Corp. (the “Company”) listed on the TSX Venture Exchange (ASX) and the OTCBB (ASXSF), is pleased to report that the Company has received assays on two additional drill holes which have intersected high grade poly-metallic zones at its Echo Bay IOCG & uranium target at the Eldorado & Contact Lake IOCG & uranium project. The Company has received assays on drill-holes number 11 and 13, from its phase-2, 8-hole drill program on the Echo Bay IOCG & Uranium target. Drill-hole number 11 intersected 58.25 meters of high grade IOCG style poly-metallic mineralization with 0.61% zinc, 0.20% lead and 2.44 g/ton silver. This interval also includes 1.50 meters of 2.56% zinc 0.43% lead, and 6.63 g/ton silver. Another mineralized zone of 30.10 meters 0.75% zinc and 0.28% lead was intersected in drill-hole number 13. The Company has released four previous drill-hole numbers 6, 8, 9, 12 from this program. (NR October 15, 2007). The Echo Bay IOCG & uranium target drill program was designed to re-evaluate the economic potential of the former Eldorado-Echo Bay silver and uranium mines and its untested surrounding area. The Echo Bay silver-uranium target area is located on the Company’s property, on the north side of Echo Bay. Both drill holes reporting, intersected multiple zones of altered and mineralized poly-metallic zones with disseminated and vein hosted high grade copper, silver, lead and zinc. The Company’s 2007 drill program was completed between May and October 2007 and consisted of over 19,600 meters of drilling, with over 73 holes drilled resulting in over 10,200 samples being collected and submitted for assaying.

A QAQC (quality assurance, quality control) program conducted by the Company which consisted of the introduction of standard, duplicate, and blank samples introduced into the sample sequence at irregular and random intervals to test the sampling and assay procedures. Standard samples were prepared by Acme Analytical Laboratories Ltd. (“Acme”) of Vancouver British Columbia. All drill core samples were prepared, bagged and sealed by the Company’s supervised personnel and were transported by plane to Acme facilities in Yellowknife, NT where they were crushed and pulped, and then transported to Acme’s main laboratories in Vancouver, British Columbia for assaying. Acme is a fully registered analytical lab for analysis by ICP-MS and ICP-FA techniques. Samples were subjected to aqua regia digestion and analyzed for 40 elements and induced coupled plasma-mass spectrometry (ICP-MS) following four acid digestions (HF, HCIO4, HNO3 and HCI). All analysis for Cu, Ag, Au, U, Co, Ni, Bi, Pb, Zn and W which exceeded upper limits were re-assayed using ICPFA method to obtain correct values.

Highlights from significant mineralized down hole intervals from the two new holes include:

• EBM-07-11 intersected several mineralized zones including 58.25 meters of 0.61% zinc, 0.20% lead, and 2.44 g/ton silver and within that 1.50 meters of 2.56% zinc, 0.43% lead and 6.63 g/ton silver and also 1.50 meters of 2.35% zinc, 0.79% lead and 3.90 g/ton silver was intersected in this drill hole.
• EBM-07-13 intersected 30.10 meters of 0.75% zinc, 0.28% lead. Another zone of 0.25 meter of 16.47% zinc, 0.64% copper, 0.46% lead and 403.0 g/ton silver. Also several mineralized zones enriched in copper, lead or zinc were intersected in this drill hole.

The accompanying table gives a summary of drilling highlights and assay results from holes number 11 and 13 at Echo Bay IOCG and uranium target.

ECHO BAY Drill Summary
 

Metal values as at today’s market price. Gold $817.80 US per ounce, Copper $3.03 per pound, Silver $14.72 US per ounce, Cobalt $35.50 US per pound, Zinc $1.03 US per pound, Lead $1.35 US per pound, nickel $13.11 US per pound, vanadium $7.50 and Uranium $93.00 US per pound as of November 23, 2007.

Note: Due to strong hydrothermal alteration which destroyed the original layering of the host volcanic rocks, true thickness has not been calculated for these holes.

Pictures of theEldorado IOCG & Uranium Project drill core may be viewed at the Company’s Website at www.elyseedevelopment.com.

Drill hole EBM-07-11 and EBM-07-13 are in two NW-SE trending row sections, 200 meters away from each other. Previously released drill hole EBM-07-12 was drilled between these two drill holes at 100 meters away from each hole. Inclination and azimuth for these holes are: EBM-07-11: 45 degree inclination and 315 degree azimuth. EBM-07-13: 45 degree inclination and 315 degree azimuth.

As both drill holes show similar style of mineralization and hydrothermal alteration zones enriched in zinc, lead, and locally copper and silver and vanadium, it is inferred that this mineralization extends for at least 200 meters between drill hole EBM-07-11 and EBM-07-13.

THE ELDORADO & CONTACT LAKE IRON OXIDE COPPER, GOLD, SILVER AND URANIUM PROJECTS

The Eldorado & Contact Lake Permit Areas are located on the east side of Great Bear Lake in Canada’s Northwest Territories. The permit areas are situated 470 kilometers north of the city of Yellowknife. The total size of the Eldorado & Contact Lake Permit area covers over 98,027.77 acres in size. The Eldorado & Contact IOCG & uranium project areas include five past producing high grade silver and uranium mines. This includes the Echo Bay Silver Mine which produced 23,779,178 ounces of silver and the Eldorado Uranium Mine which produced 15 million pounds of uranium and 8 million ounces of silver. The Contact Lake Silver and Uranium Mine, Bonanza and El Bonanza Silver and Uranium mines are included within the Company’s land ownership package. Olympic Dam volcanic hosted hydrothermal iron-oxide copper, gold (IOCG) style of deposits are attractive targets for exploration and development due to their poly-metallic nature, high unit value and enormous size and grade tonnage potential. The Eldorado Mineral Belt which is situated in the Great Bear Magmatic zone, NWT, has long been recognized by geologists, as one of the most prospective iron oxide copper, gold, silver and uranium regions in northern Canada.

ALBERTA STAR DEVELOPMENT CORPORATION

Alberta Star Development Corp. is a Canadian mineral exploration company that identifies, acquires and finances advanced stage mineral exploration projects in Canada. The Company is committed to creating long term shareholder value through the discovery of base and precious metals and uranium.

ALLAN FELDMAN-INVESTOR RELATIONS

Investors are welcomed to contact Mr. Allan Feldman, the Company’s Investor Relations and Corporate Communications Specialist, for all corporate updates at (604) 948-9663

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Alberta Star Development Corp.
Tel 604.681.3131 Fax 604.408.3884
www.elyseedevelopment.com

ALBERTA STAR DEVELOPMENT CORP.
Tim Coupland
President & CEO

Lou Covello, B.Sc., P.Geo. is the qualified person for the Eldorado & Contact Lake IOCG Projects.

These results have been prepared under the supervision of Lou Covello, B.Sc., P.Geo, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of this data. All rock samples were analyzed by Acme Analytical Laboratories Ltd. (“ACME”) in Vancouver B.C., Canada using ICP-MS and ICP-FA analysis techniques.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.

This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. For further information investors should review the Company’s filings that are available at www.sedar.com or contact Tim Coupland, President at (604) 681-3131