MDV Megastar Development Corp

Megastar Development Corporation ("Megastar", the "Company" or "MDV") (TSX
VENTURE:MDV)(FRANKFURT:M5Q) is pleased to announce that it has arranged a
financing of up to $1,100,000 by way of a non-brokered private placement
offering (the "Offering").


The Offering consists of the issuance of up to 11,000,000 units at $0.10 per
unit (the "Units"). Each Unit consists of one common share (a "Share") and one
transferable share purchase warrant (the "Warrant"). Each Warrant will entitle
the holder thereof to purchase one Share at a price of $0.135 per Share for a
period of 24 months. 


Finders' fees may be paid by the Company in conjunction with the completion of
the private placement in accordance with TSX Venture Exchange policies. 


Proceeds of the Offering may be used to finance exploration programs on the
company's exploration project in Quebec, for ongoing evaluation of possible
projects and for general working capital.


The Offering is subject to regulatory acceptance and final documentation, and is
scheduled to close on or about April 20, 2012. All securities issued in the
Offering and any shares issued upon exercise of warrants will have a hold period
of four months from the closing of the offering.


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.


ON BEHALF OF THE BOARD OF DIRECTORS

Dusan Berka, P. Eng., President & CEO

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