I've had the same thoughts many times Nube. And in the past it obviously has been done as there are quarters of private land surrounded by oceans of crown that were purchased in the 80's near where I grew up.
Here is a link to some info:
http://www.srd.alberta.ca/lands/form...ublicland.aspx
here is the link to some forms, which I'm not 100% how they work:
http://www.srd.alberta.ca/lands/form...s/default.aspx
and then here are some FAQ's:
http://www.srd.alberta.ca/lands/freq...stions.aspx#q3
If you do find some answers be sure to let us know. I'd definitly be interested.