Megastar Development Corp.: News Release

January 30, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 29, 2013) - Megastar Development Corporation (TSX VENTURE:MDV)(FRANKFURT:M5Q) ("Megastar", the "Company" or "MDV") announces that it has granted incentive stock options to directors and officers under its stock option plan for the purchase of 600,000 common shares of the company for a period of three years at a price of 10 cents per share.

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