Megastar Development Corp.:zinc, Lead And Silver Found On Megastar's Sedex Project

March 03, 2008 - Megastar Development Corp. (TSX-V: MDV; Frankfurt: M5Q)
has received a summary report on exploration recently completed on its 100%
owned SEDEX zinc-lead properties located within the Kechika Trough in
northern British Columbia. Sampling returned elevated and in some cases,
significant geochemical zinc, lead and silver values.

Under an option agreement with Megastar, Mantle Resources Inc. (TSX-V: MTS;
Frankfurt: A0F7E1) operates a regional exploration program on all of the
Megastar claims, in conjunction with exploration on Mantle's contiguous
tenures, investigating the potential for additional SEDEX style mineral
deposits.

The 2007 work 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 (the principal
element in barite, a gangue mineral commonly associated within the Kechika
SEDEX deposits). In soils, samples returned values up to 0.82% Zn (New
Gun-Pesika claim) and 0.50% Ba (barium) - (Erin claim). Anomalous silver
and lead values were also encountered on most of the claims, with values
ranging to 0.54% Pb on the Erin claim and to 12.43 g/t Ag on the Akie-Sika
North claim. In specific areas, rock samples ranged in values to 0.56% Ba
on the New Gun-Pesika claim and up to 0.87% Zn, 7.9 g/t Ag and 0.82% Pb on
the Erin claim.

The claims are generally underlain by basinal, clastic sedimentary rocks
which hosts a number of known SEDEX deposits and prospects, such as the
nearby Cirque and South Cirque deposits (totaling a geological inventory of
50 million tonnes grading approximately 10% combined Zn+Pb and 48 g/t Ag)
owned by Teck-Cominco and Korea Zinc. The resource quoted above is
historical and does not conform to standards established under National
Instrument 43-101. Interest in the region was renewed after drilling by
Mantle on the nearby Akie property encountered significant mineralization
(up to 11.87% Zn, 2.83% Pb, 23 g/t Ag over 34.05 m, including 17.22% Zn,
4.20% Pb and 30 g/t Ag over 17.93 m) at the Cardiac Creek deposit.
Highlights of Mantle's most recent drill results at its 100% owned Akie
property, in north-eastern British Columbia, approximately 260 kilometres
north-northwest of the town of Mackenzie, include: hole A-07-47 (27.07
metres grading 11.46% Zn+Pb); hole A-07-51 (24.54 metres grading 15.49%
Zn+Pb) and hole A-07-53 (16.23 metres grading 15.15% Zn+Pb).

A follow-up program is slated for implementation during the 2008
exploration season. By expending a total of $2.25 million on exploration,
Mantle can earn a 60% interest in these properties.

All of the claims are in good standing and statements of work for the 2007
program are currently being filed. Expiry dates for the tenures will be
extended a number of years after the statements of work have been accepted.

Rock samples are placed in secure bags, shipped in secure containers to
Acme Analytical Laboratories Ltd., Vancouver, B.C., and there subjected to
digestion with nitric acid diluted in mineral water followed by ICP
analysis (Acme Group 4A Whole Rock Analysis by ICP) to determine zinc, lead
and silver content. Soil samples are shipped in secure bags to Acme and
digested in by a modified Aqua Regia solution followed by ICP MS analysis
(Acme Group 1F-MS - Ultratrace ICP-MS). Standards and blanks are inserted
into the assay stream at a rate of about one of each for every 25 core
samples.

ABOUT MEGASTAR DEVELOPMENT CORP.

Megastar Development Corp. is an emerging resource company engaged in the
acquisition, exploration and development of mineral properties in Quebec
and British Columbia. Megastar is listed on the TSX Venture Exchange under
the trading symbol 'MDV' and on the Frankfurt Stock Exchange under the
trading symbol 'M5Q'.

For further information, investors and shareholders are invited to visit
the Company's website at www.megastardevelopment.com or contact D. Cameron
Stretch at 604-961-9795, and Coal Harbor Communications at 604-662-4505 or
Toll-free 1-877-642-6200.


ON BEHALF OF THE BOARD OF DIRECTORS

'DUSAN BERKA'

Dusan Berka, P. Eng.
Chairman of the Board


Contact Germany:
Value Relations GmbH
Tel.: +49 69 959246-11
n.arnautovic@vrir.de



03.03.2008 Financial News transmitted by DGAP

Unternehmen: Megastar Development Corp. - ISIN: CA58516P1099