Megastar Development Corp.: Results of Annual General Meeting

Megastar Development Corporation (TSX VENTURE:MDV)(FRANKFURT:M5Q) ("Megastar",
the "Company" or "MDV") wishes to announce that at its annual general meeting
held on November 16, 2011 the shareholders re-elected Dusan Berka, Gary Musil,
Andrew Lee and Chris Staargaard as directors of the Company for the upcoming
year. 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 2011 incentive stock
option plan. Shareholders also approved the re-appointment of BDO Canada LLP as
auditor for the ensuing year and authorized the directors to fix their
remuneration.


At the directors meeting following, the directors re-appointed Mr. Berka as
President and Chief Executive Officer, Mr. Lee as Vice President and Corporate
Secretary and Ms. Zara Kanji-Aquino as Chief Financial Officer for the upcoming
year.


The board of directors would like to thank the Company's shareholders for their
continued support throughout the past year.


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 gold and base metal 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
604-683-6648. 


ON BEHALF OF THE BOARD OF DIRECTORS

Dusan Berka, P.Eng., President & CEO