Megastar Development Corporation (TSX VENTURE:MDV)(FRANKFURT:M5Q) ("Megastar",
the "Company" or "MDV") announces that it is making an application to the TSX
Venture Exchange to extend the terms of certain warrants previously issued. The
private placements, which these warrants relate to, closed on July 20, 2011 and
June 1, 2012, respectively. These warrants had an expiry date of July 20, 2013
and June 1, 2014 and will be extended for a period of two years so that they
will now expire on July 20, 2015 and June 1, 2016. All other terms of the
warrants will remain the same. Insiders hold an aggregate of 262,500 of the
6,602,765 warrants which expire on June 20, 2013.


The above-mentioned amendments are subject to regulatory approval.

On behalf of the Board of Directors of MEGASTAR DEVELOPMENT CORP.

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: 1-866-669-9377
(604) 669-9335 (FAX)
www.megastardevelopment.com
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