ASX

TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0) and Alberta Star
Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF)(FRANKFURT:QLD) have completed
the previously announced private placement whereby Alberta Star has acquired
1,300,000 units of TerraX at $0.45 per Unit for gross proceeds of $585,000 (the
"Private Placement"). Each Unit consists of one common share and one-half of one
share purchase warrant, with each full warrant entitling the holder to purchase
an additional common share at an exercise price of $0.57 per share until
February 28, 2016. No finder's fees were paid in connection with this placement.
All securities issued in connection with the placement are subject to a hold
period expiring on July 1, 2014.


In addition, TerraX and Alberta Star are pleased to announce that they have
entered into, and received approval from the TSX Venture Exchange for, a
definitive option agreement (the "Option Agreement") pursuant to which Alberta
Star may earn a 60% interest in TerraX's wholly-owned Central Canada gold
project (the "Central Canada Property") in Ontario (the "Option"). In order to
exercise the Option, Alberta Star must make cash payments to TerraX totaling
$85,000 over a three year period, with $10,000 paid upon execution of the Option
Agreement, $25,000 due on the second anniversary of the execution of the Option
Agreement and a further $50,000 due on the third anniversary date. Alberta Star
must also incur an aggregate of $500,000 in exploration expenditures over a
three year period, with $100,000 to be incurred by March 31, 2015, a further
$150,000 to be incurred by March 31, 2016 and the remaining $250,000 to be
incurred by March 31, 2017. Alberta Star will also be responsible for payment of
the annual pre-production royalty of $10,000 to the original vendors of the
Central Canada Property due annually in December beginning with the next payment
due on December 11, 2014.


The net proceeds of the Private Placement will be used by TerraX to finance
additional drilling planned for Terrax's wholly-owned Northbelt property, which
encompasses 3,562 hectares on the prolific Yellowknife belt, 15 km north of the
city of Yellowknife, and covers 13 km of strike on the northern extension of the
geology that contained the Giant (7.6 Moz) and Con (5.5 Moz) gold mines. The
Northbelt property is host to multiple shears that are the recognized hosts for
gold deposits in the Yellowknife camp and it contains innumerable gold showings.


Mr. Stuart Rogers, a director and the Chief Financial Officer of TerraX, is also
a director and the President and Chief Executive Officer of Alberta Star. Mr.
Rogers beneficially owns or controls 855,000 common shares and 447,500
securities convertible into common shares of TerraX, representing 2.00% of the
outstanding common shares of TerraX on a non-diluted basis and 3.06% of the
outstanding common shares of TerraX on a diluted basis. Mr. Rogers beneficially
owns or controls 339,000 common shares and 300,000 securities convertible into
common shares of Alberta Star, representing 1.57% of the outstanding common
shares of Alberta Star on a non-diluted basis and 2.95% of the outstanding
common shares of Alberta Star on a diluted basis. TerraX does not own any
securities of Alberta Star and Alberta Star does not presently own any
securities of TerraX. After completion of the Private Placement, Alberta Star
owns 3.04% of the outstanding common shares of TerraX on a non-diluted basis and
4.56% of the outstanding common shares of TerraX on a diluted basis. Mr. Rogers
has declared his interest in, and abstained from voting in respect of, the
Option and the Private Placement on behalf of TerraX and Alberta Star. The
directors of each of TerraX and Alberta Star have considered the merits of the
Option and the Private Placement in the absence of Mr. Rogers. The Option and
Private Placement are exempt from the formal valuation and minority approval
requirements of Multilateral Instrument 61-101 pursuant to sections 5.5(b) and
5.7(1).


Information Regarding the Central Canada Property

The Central Canada Property consists of seven claims totaling 24 claim units
(approx. 3.8 km2) located 20 km east of the town of Atikokan, 160 km west of
Thunder Bay and 19 km from the Hammond Reef gold deposit owned by Osisko Mining
Corporation.


The Central Canada Property straddles the southern contact of the Marmion
Batholith, host to the Hammond Reef deposit and TerraX's Blackfly property. The
bulk of the property is underlain by mafic rocks outside the batholith; these
have been intruded by abundant felsic dikes presumably related to the Marmion
Batholith. Gold mineralization is associated with quartz-iron carbonate veins
with minor pyrite and local tourmaline and/or arsenopyrite. These veins are most
common in or close to felsic dikes. Dikes and veins trend easterly, parallel to
the contact of the Marmion Batholith and to the strike of the regional scale
Quetico Fault, which also occurs on the property. TerraX conducted due diligence
on the property in October 2009, collecting 18 grab samples of veins and
alteration. Assay values range from 9 ppb to 22.9 g/t gold, and seven samples
had greater than 250 ppb Au. This includes results of 2.8, 4.48 and 22.9 g/t
gold.


Induced Polarization ("IP") and magnetic surveys were conducted on the Central
Canada Property by TerraX in February/March 2010 and two chargeability anomalies
were detected, one of which was roughly coincident with the 22.9 g/t Au sample
with the other occurring in an area not previously investigated by TerraX.


A comprehensive prospecting program was carried out on the Central Canada
Property in June 2010. Extensive zones of shearing and
carbonate-chlorite-sericite alteration with quartz veining were noted across the
property. This prospecting program collected 21 new grab samples. Results ranged
from below detection to a high of 39.6 g/t Au on a sample collected near the
circa 1900 shaft that occurs on the property. Importantly, two samples of
approximately 1 g/t Au (907 and 1070 ppb) were taken from a new showing 500 m
northeast of the shaft. This showing consists of a northeast trending sericite
carbonate shear with disseminated to semi-massive pyrite and arsenopyrite. This
was followed up with Channel sampling in September 2010. One hundred and
twenty-three channel samples were collected over a strike length of
approximately 120 m, perpendicular to a series of easterly trending
quartz-carbonate-pyrite veins and felsic dikes. Twenty-four samples contained
anomalous gold (20 ppb or higher), with a high value of 7.5 g/t Au.


Based on these results and historical information, TerraX commenced drilling at
the Central Canada Property in March 2012. Three holes (363 m) were drilled
approximately 55 meters apart to test a 110 m strike length of the main
mineralized structure, which trends east-northeast. Drill holes were aligned to
cut normal to the mineralized structures identified in the channel sampling.
Drill intersections from southwest to northeast include 23.30 m @ 0.83 g/t Au
(including 0.63 m @ 7.36 g/t Au) in hole CC12-03, 10.61 m @ 1.32 g/t Au
(including 1.82 m @ 4.77 g/t Au) in hole CC12-01, and 8.92 m @ 0.74 g/t Au in
hole CC12-02. Alberta Star's exploration activities this year will be designed
to follow-up on the initial 363 m drill program conducted by TerraX and
determine the overall size of the mineralized structure, which remains open
along strike and down-dip. A map showing the location of the drilling conducted
at Central Canada is available on TerraX's web site at www.terraxminerals.com


On behalf of the Board of Directors of TerraX 

Joseph Campbell, President

On behalf of the Board of Directors of Alberta Star 

Guido Cloetens, Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


This news release contains forward-looking information, which involves known and
unknown risks, uncertainties and other factors that may cause actual events to
differ materially from current expectation. Important factors - including the
availability of funds, the results of financing efforts, the completion of due
diligence and the results of exploration activities - that could cause actual
results to differ materially from the company's expectations are disclosed in
the company's documents filed from time to time on SEDAR (see www.sedar.com).
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The company
disclaims any intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paradox Public Relations
514-341-0408 or Toll Free: 1-866-460-0408
info@paradox-pr.ca


Vanguard Shareholder Solutions
604-608-0824 or Toll Free: 1-866-801-0779
ir@vanguardsolutions.ca

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