Megastar Development Corp.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Megastar Development Corp. is an emerging Canadian resource company with a quality portfolio of advanced-stage and grassroots gold and base metals exploration projects in prospective mining camps in Quebec and British Columbia.

PROJECT IN HAND

(1) Simkar Gold Project, Abitibi Greenstone Belt, Quebec

Megastar has a 100% interest in 2 mining concessions consisting of 557 acres in the Louvicourt Township of Quebec, 20 km east of the city of Val d'Or, just southeast of the developing Lac Herbin Gold Deposit operated by Alexis Minerals (TSX:AMC). The Simkar Property is situated within the prolific Abitibi Greenstone Belt, which is the largest of the Archean greenstone terrains of the world, and is host to a major proportion of Canada's mineral resources.

The Simkar Deposit is a past producer of approximately 50,000 ounces of gold, and has an existing historical resource estimate (non NI 43-10 compliant) of 271,043 tonnes averaging 8.42 g/t gold (50,000 ounces of gold). In July 2007, Megastar discovered a new high-grade gold zone at Simkar.

Comprehensive 3-D computer-generated compilation and a target generation program shows good potential for additional gold mineralization in the South Zone, with shear-hosted gold-bearing quartz vein deposits, similar to many historical and active producers in the area.

Modern 3-D imaging of the Mine and independent professional analysis of all data indicates excellent potential for the discovery additional gold mineralization below the old underground workings.

A new series of high-grade veins were intersected approximately 50 metres south of the East Shear Zone. Three holes intersected a network of high-grade veins over a strike length of 350 m with grades as high as 140 g/t gold.

Furthermore, a new series of high-grade veins were also intersected in the upper part of these three holes. The new high-grade veins are located approximately 50 metres south of the Shear Zone, which hosts the East and C zones, and appear to be part of a network of high-grade tension veins. Similar veins have been documented to occur in the near vicinity of the A and B zones.

The Company is moving forward with a new 43-101 Resource Estimate following on the work that was carried out in 2007. This work included 4,340 metres of diamond drilling (14 holes), designed to test the down plunge extension of known mineralized zones (B, C and East Zones) within the southern portion of the Simkar property, and evaluate the potential for medium grade, large tonnage, copper-zinc-gold-silver volcanogenic massive sulphide (VMS) mineralization on the northern portion of the property.

(2) Sedex Zinc-Lead Project, Kechika Trough Zinc Basin, Northern British Columbia

Megastar's 100%-owned Sedex Zinc-Lead property encompasses 18,198 hectares (185 sq.km) consisting of a total of 38 mineral claim units situated in the emerging world-class Galaga-Akie SEDEX zinc/lead/silver camp in the Omineca Mining District of British Columbia, northeast of Williston Lake, approximately 280 km north-northwest of Mackenzie.

The Property is adjacent to and along strike of the highly prospective Devonian Gunsteel shales that host the new discovery by Mantle Resources Inc. (TSX-V:MTS) on their Akie Property, where a drilling program by Mantle discovered a significant new zone of thick, high-grade Sedex-style zinc-lead mineralization.

Megastar's Sedex zinc-lead properties located within the world-class Kechika Trough in northern British Columbia. The two major Sedex-zinc-lead deposits in the southern portion of the Kechika Trough are Mantle's Akie Deposit (12 million tonnes of 8.5% zinc) and Teck Cominco/Korea Zinc's Cirque Deposit (30 million tonnes of 8% zinc and 2% lead).

In March 2007, Megastar completed a definitive arrangement with Mantle Resources pursuant to which Mantle will have option to earn an initial 60% interest in the Company's Sedex zinc properties by spending up to CDN$2.25 million over a 3-year period.

In July 2007, Mantle began its regional exploration program on all of the Megastar claims, the program consisted of geochemical sampling, gravity geophysics, prospecting and mapping. It was successful in locating several areas and trends of zinc, lead and silver bearing exhalative horizons within the underlying formations. Encouraging analytical results were obtained for most of these claims, notably zinc and barium. Anomalous silver and lead values were also encountered on most of the claims.

A follow-up program is slated for implementation during the 2008 exploration season.

(3) Ralleau Copper-Zinc Project, Abitibi Greenstone Belt, Quebec

Megastar's 100%-owned Ralleau Copper-Zinc Property is located within the Abitibi Greenstone Belt in Quebec. It covers a favourable area of Volcanogenic Massive Sulphide (VMS) mineralization approximately 20 km southeast of Breakwater Resources' (TSX:BWR) Langlois Mine hosting reserves and resources of 8.3 million tonnes of 11% zinc, 0.8% copper and 53 g/t gold.

Previous surveys identified anomalous copper-zinc VMS mineralization on the Property. Chip sample results elsewhere in the region returned values up to 1.56% copper and 17.2% silver over 14 metres. The Company is focused on discovery of another economic deposit in the area.

The 2006 drill program, which consisted of 5 diamond drill holes for a total of 1,545.7 metres, resulted in discovery of massive sulphide over metric widths and returned anomalous copper and zinc values.

In November 2007, Megastar acquired 17 new mineral claims contiguous to its Ralleau property and further exploration work has resumed. Megastar now controls 5,400 hectares hosting the highly prospective geological host. The work program has commenced immediately with geophysics, mapping, trenching, sampling, and additional diamond drilling. The 2007 winter program consisted of surface trench sampling of delineated outcrops.

MANAGEMENT

Megastar Development Corp. has a well management team with experience in different areas.

Officers & Directors

David Bikerman, President & CEO, Director
Mr. Bikerman holds three university degrees in mine engineering and mineral economics, including the advanced degrees of engineer of mines (1995) and master of science (1985) from Columbia University in New York. Mr. Bikerman taught mine plant design at the Henry Krumb School of Mines at Columbia University and has worked as an independent consultant to the United Nations, as an associate with Behre Dolbear & Co. and for various mining companies over 20 years. His responsibilities have included feasibility studies, project resource and reserve analyses, design, construction, and operation of numerous mines around the world.

Dusan Berka, P.Eng., Chairman, Director
Having worked in Europe and North America, Mr. Berka has over 35 years of international business experience. He has extensive experience in the finance, marketing, and administration of public companies in addition to corporate communication, public relations and contract negotiations. Mr. Berka has served as a Director and Officer of various public companies traded on the TSX, TSX Venture and NASDAQ. Mr. Berka is a graduate engineer with a M.Sc. (Dipl.Ing.) degree from Slovak Technical University, Bratislava, Slovakia (1968) and has been a member of the Association of Professional Engineers and Geoscientists of British Columbia since 1977.

Gary Musil, CFO & Director
Mr. Musil has over 30 years of management and financial consulting experience and has served as Chief Financial Officer and managing director of numerous public companies since 1988. This experience has resulted in his overseeing exploration projects in Peru, Chile, Eastern Europe (Slovak Republic), British Columbia, Ontario, Quebec and New Brunswick (Canada). Prior to his involvement in the public company field, Mr. Musil was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd. as a Controller of their producing silver/lead/zinc mine in the interior of British Columbia, Canada. Mr. Musil is also a director and/or officer of two public companies reporting in the United States.

Richard Roy, P.Geo., B.Sc., Director
Mr. Roy is a bilingual Professional Geologist (Ordre des Geologues du Quebec) with a Bachelor of Science degree (Geology) from Concordia University in Montreal. He has extensive experience throughout North America in the exploration for many commodities, including gold, silver, copper, lead, zinc, nickel and diamonds. Mr. Roy is Chief Geologist for Scorpio Mining Corp., the emerging silver company focused on high-value metal projects in Mexico and Canada. His past positions include chief geologist for Alexis Minerals' Aurbel and Lac Herbin mines, Aur Resources' Belmoral Mine, and Production Geologist at Placer Dome's Sigma mine in Quebec. Over the last 20 years Mr. Roy has supervised and coordinated a number of exploration programs on various properties located throughout Quebec, Ontario, and Nunavut for companies such as Placer Dome Inc., Aur Resources Inc. and many junior mining companies. Mr. Roy worked on Alexis Minerals' Lac Herbin Deposit (1,072,681 tons of 7.26 g/t Au) since the original discovery back in 1995.

Philippe Cloutier, P.Geo., B.Sc., Director
Mr. Cloutier is a graduate of the University of Montreal (B.Sc. Geology 1988) and has over 19 years of experience in the mining exploration and development business. Mr. Cloutier is President and CEO of Cartier Resources Inc., an exploration company focused on gold in the prolific Abitibi Gold Belt in Quebec. Most recently he was Vice President Exploration for Alexis Minerals Corp. and has previously worked for industry leaders such as Noranda Inc., Aur Resources Inc., and Soquem.

NEWS UPDATE

On March 25, 2008, Megastar Development Corp. announced that it has engaged Abitibi Geophysique Ltd. of Val d'Or, Quebec, and Geotech Ltd. of Aurora, Ontario, to conduct a helicopter-borne electromagnetic geophysical survey over Megastar's entire 100% owned Ralleau project area. The survey is scheduled to commence in late-April, 2008, using a geophysical system known as versatile time-domain electromagnetics (VTEM). The Company is looking forward to analyzing the VTEM survey results this spring, and selecting promising drill targets to follow up on.

On March 18, 2008, Megastar Development Corp. announced that it has received the sample assay results from the channel samples taken as part of the Company's 2007 winter program regional plan at the 100%-owned Ralleau project in Quebec.

Sampling of outcrops was designed to follow up on a volcanogenic massive sulphide (VMS) target situated approximately 6 km east-southeast of Megastar's earlier discovery. Channel samples were taken over approximately 50 metres, on a north-south strike. 

Highlight of sample assay results includes returned 307 ppm Cu and 462 ppm Zn.

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