Alberta Star Receives Shareholder Approval of Proposed Change of Business

Alberta Star Development Corp. (TSX VENTURE:ASX)(OTCBB:ASXSF)(FRANKFURT:QLD) is
pleased to announce that it received shareholder approval of its proposed change
of business (the "Change of Business") to a Tier 2 investment company at its
annual general and special meeting (the "Meeting") held June 24, 2014.
Shareholders also approved a change of name to "Elysee Capital Corp.", to be
effected in due course. For more information regarding the Change of Business
please refer to our news releases dated May 22, 2014 and June 12, 2014 as well
as the management information circular (the "Circular") prepared in respect of
the Meeting, all of which are available at www.sedar.com. 


At the Meeting, a total of 6,488,957 shares were represented out of 21,655,974
shares issued, of which 99.83% voted in favour of the Change of Business. In
addition, Stuart Rogers, Guido Cloetens, Martin Burian, Tom Ogryzlo and Erwin
Holsters were re-elected as directors of Alberta Star. Following the Meeting,
the directors appointed Guido Cloetens as Chairman, Stuart Rogers as President
and Chief Executive Officer and Gordon Steblin as Chief Financial Officer.
Appointed as members of the investment committee were Stuart Rogers, Guido
Cloetens and Martin Burian with Tom Ogryzlo, Erwin Holsters and Martin Burian
appointed as members of the audit committee. 


Alberta Star has previously received conditional approval of the Change of
Business from the TSX Venture Exchange (the "TSXV"). Alberta Star currently has
approximately $5.8 Million in cash and cash equivalents and holds investments
valued at approximately $825,000 as of May 31, 2014. The Company is currently
reviewing investments that conform with its investment policy and proposes to
invest a further $1,000,000 in order to satisfy the listing requirements of the
TSXV. The Company plans to issue a news release with comprehensive disclosure of
each proposed investment. 


Completion of the Change of Business remains subject to final TSXV acceptance
and there can be no assurance that the Change of Business will be completed as
proposed or at all. Investors are cautioned that, except as disclosed in the
Circular, any information released or received with respect to the Change of
Business may not be accurate or complete and should not be relied upon. Trading
in the securities of Alberta Star should be considered highly speculative. 


The TSX Venture Exchange Inc. has in no way passed upon the merits of the Change
of Business and has neither approved nor disapproved the contents of this press
release.


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


Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the proposed
Change of Business. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results contemplated by
the forward-looking statements. When relying on forward-looking statements to
make decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any forward
looking statements, oral or written, made by itself or on its behalf, except as
required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alberta Star Development Corp.
Stuart Rogers
President & Chief Executive Officer
(604) 689-1749

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