MDV Megastar Development Corp

Megastar Development Corporation ("Megastar", the "Company" or "MDV") (TSX
VENTURE:MDV)(FRANKFURT:M5Q) wishes to announce that at its annual general
meeting held on November 29, 2012 the shareholders re-elected Dusan Berka and
Chris Staargaard as directors of the Company for the upcoming year. Two new
directors, Paul A. Smith of Bristol, UK and Jonathan M. Rich of Montreal, Quebec
were also elected at the AGM. All other resolutions submitted by management to
the shareholders for consideration were approved as presented, including the
approval, subject to acceptance by the TSX Venture Exchange, of the Company's
Rolling 10% Stock Option Plan. Shareholders also approved the re-appointment of
BDO Canada LLP, Chartered Accountants as auditor for the ensuing year and
authorized the directors to fix their remuneration. 


Long-time serving Company director and former CFO Gary Musil has retired from
the board. "The board of directors wishes to express sincere thanks to Mr. Musil
for his many contributions to the Company over the years, and wishes him good
health and continued success in all of his endeavours," said Dusan Berka,
President & CEO. Mr. Andrew Lee opted not to stand for re-election as a Company
director in order to focus on his other business interests. "We are also
grateful to Andrew for his years of valuable and loyal service as director and
Vice President of the Company and wish him nothing but the best in all his
endeavours," said Dusan Berka.


At the directors meeting following the AGM, Mr. Berka was re-elected as the
Company's President and Chief Executive Officer, and Ms. Zara Kanji-Aquino as
Chief Financial Officer. Audit Committee members for the ensuing year are Chris
Staargaard, Paul Smith and Jonathan Rich.


The Company welcomes Messrs. Smith and Rich to its board, where their extensive
expertise in the mining industry and in financial management will help move the
Company forward. After graduating from Oxford University with an MA in
Metallurgy and the Science of Materials, Paul Smith spent most of his career in
the non-ferrous mining and smelting industry. After a 20-year distinguished
career with Rio Tinto Zinc group of companies and 8 years with Pechiney World
Trade, Paul was a founding shareholder and Finance Director of Ocean Partners
Holdings Limited, a global trader of copper, zinc and lead raw materials. He
left Ocean Partners in May 2012 to pursue other investment opportunities and
charitable activities. Jonathan Rich is a Chartered Accountant and has held
senior management and consultancy positions in various industries within the
public and private sector. His experience is with helping companies execute
their growth strategies through partnerships and acquisitions. Jonathan has a
Bachelor of Commerce degree from McGill University and belongs to The Order of
Chartered Professional Accountants of Quebec (formerly the Quebec Order of
Chartered Accountants). 


Dusan Berka, President & CEO states: "We are very pleased to have attracted
quality and experienced professionals like Paul and Jonathan to the board. Their
management, technical, financial and business skills combined with background
and experience with mining projects in many different countries will be a great
asset to the company as it accelerates seeking and evaluating advance stage
projects for acquisition. With added "bench strength", a healthy treasury of
approximately $1.15 mil cash plus marketable securities and no debt, it makes
Megastar well positioned to increase shareholder value and take the Company to
the next level."


ABOUT MEGASTAR DEVELOPMENT CORP.

Megastar Development Corp. is an emerging resource company engaged in the
acquisition, exploration and development of mineral properties in Canada.
Megastar owns mineral properties in Quebec and British Columbia. For further
information, investors and shareholders are invited to visit the Company's
website at www.megastardevelopment.com or call the office at 604-669-9330, or
toll free at 1-866-669-9377.


ON BEHALF OF THE BOARD OF DIRECTORS

Dusan Berka, P. Eng., President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Megastar Development Corp.
Dusan Berka, P. Eng.
President & CEO
604-669-9330 or Toll Free: 1-866-669
604-669-9335 (FAX)
www.megastardevelopment.com

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