Mining News; Valterra(CNSX:VTA)(FRANKFURT:3VA) Drills Toughnut Yielding 4.05 g/t Au over 8.0m

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog)   - Sept. 23, 2010) - Valterra Resource Corporation ("Valterra") (CNSX:VTA)(FRANKFURT:3VA) reported encouraging near surface diamond drill results from its recent 2010 exploration program at the Au-Ag-Cu porphyry/shear-hosted "Star Project" (Star and Toughnut claims) located in southeast British Columbia.


Drilling intercept highlights at the Eureka and Toughnut zones include:

VTN10-005 (Toughnut):		4.05 g/t Au & 0.88 g/t Ag over 8.0 metres
VTN10-003 (Toughnut):		1.28 g/t Au & 0.70 g/t Ag over 12.0 metres
VST10-011 (Eureka):		0.28 g/t Au, 4.45 g/t Ag & 0.27% Cu over 66.67 metres
Including		1.07 g/t Au, 19.05 g/t Ag & 2.32% Cu over 2.0 metres

The Company completed a total of 1,438 metres in seven NQ2/BTW-sized drill holes. The drilling centred on three of the five-known gold-silver +/- copper zones that are contained within a prospective 3.5 kilometre-long polymetallic mineral trend transecting the claim blocks. The initial phase of Toughnut zone drilling has defined approximately 200 metres of strike length that is located more than 3.0 kilometres southeast of the Eureka zone. The company believes that the geological, structural, alteration, and mineralogical packages intercepted in the drilling are consistent with a zoned porphyry model subjected to shear-fault/hydrothermal activity that generated focused zones of higher-grade.
Valterra expects timely receipt of pending assays from the remaining two holes recently drilled at the Toughnut occurrence and anticipates undertaking a Phase II exploratory drill program on several anomalies in the area during Q3/Q4 of 2010.
Targeting was aided by several recent technical programs implemented by Valterra in Q2 2010. Firstly, a geological consultant was retained to prepare a technical (compilation) report on the Star-Toughnut dataset which outlines several geophysical, geological and reverse circulation/diamond drilling programs spanning a 25-year period. Secondly, a 30 square kilometre airborne EM-MAG survey was flown by Aeroquest Ltd. over the entire +1,900 hectare claim block (see NR-03-10). Lastly, the airborne data was subjected to detailed processing analyses by a geophysical consultant whose work refined and sharpened numerous airborne anomalies warranting follow-up.
This region of the province has produced several million ounces of gold and precious metals from numerous past producers. The BC MINFILE records lists such operations as the Rossland Camp (past production estimate of 3.5M ounces of gold), and the Silver King mine - BC's first lode mine ca. 1888 (reportedly produced 4.4M ounces of silver⁽¹⁾). Valterra's claims are centrally located on the Silver King Shear Zone, to the east is the Kena Gold project (1.0M ounce NI43-101 compliant gold resource⁽²⁾ - Sultan Minerals Inc.), and to the northwest is the Kenville Mine (386,000 ounce NI43-101 compliant gold resource⁽³⁾ - Anglo Swiss Resources Inc.).
2010 QA/QC Protocols
Core samples were analyzed at Acme Analytical Laboratories Ltd. located in Vancouver, BC, for Au + 41 elements by Fire Assay (FA)/Inductively Coupled Plasma (ICP)/Emission Spectroscopy (ES) and Four-Acid Digestion/ Inductively Coupled Plasma (ICP)/Mass Spectroscopy (MS) using appropriate calibration standards. Additionally, any samples assaying greater than 10.0 g/t Au are re-analyzed using a Gravimetric finish.
Valterra implemented established QA/QC quality protocols throughout the core sampling process comprising "blind" insertions of a variety of standard pulps, blanks and field duplicated samples. Certified analytical standards were utilized from suppliers CDN Resource Laboratories Ltd. and WCM Minerals Limited and overall approximately 10% of the total assays were QA/QC-related; the results of which were carefully monitored in order to verify the assaying quality.
Table 1: 2010 Drill Assay Composites for the Star Project *

	Collar Data
	AZ	DIP	Depth	From	To	Interval	Au	Ag	Cu
Hole #	Deg	Deg	(m)	(m)	(m)	(m)	(g/t)	(g/t)	(%)
Star Zone
VST10-010	95	-50	187.76	109.00	127.00	18.00	0.90	3.93	0.27
			incl	123.00	127.00	4.00	1.44	6.00	0.59
Eureka Zone
VST10-011	90	-50	313.03	52.59	70.00	17.41	1.00	1.11	0.15
			and	88.93	90.93	2.00	4.18	23.80	0.48
			and	230.33	297.00	66.67	0.28	4.45	0.27
			incl	259.55	261.55	2.00	1.07	19.05	2.32
			incl	266.98	271.12	4.14	0.99	24.22	1.11
			incl	268.98	271.12	2.14	1.42	39.38	1.67
Toughnut Zone
VTN10-001	31	-50	203.61	58.00	64.00	6.00	1.32	0.53	-
			and	74.00	79.48	5.48	1.25	0.79	-
VTN10-002	31	-50	139.60	- assays pending -
VTN10-003	31	-50	142.34	39.00	51.00	12.00	1.28	0.70	-
			and	86.18	100.93	14.75	0.99	1.30	-
VTN10-004	75	-50	224.64	- assays pending -
VTN10-005	31	-70	226.77	77.40	122.00	44.60	1.30	1.26	-
			incl	81.00	89.00	8.00	4.05	0.88	-

* Interval widths reported are drill intercept widths; true widths are currently undefined. The assays are uncut, width-weighted average values.

About Valterra Resource Corporation
Valterra is a Manex Resource Group Company. The Group provides expertise in exploration, administration, and corporate development services for the Company's mineral properties located in the Kootenay Region of BC.
The Company has interests in approximately 11,100 hectares in southeast BC that currently focuses on four primary projects: The Star gold-silver-copper claims, located southwest of Nelson, BC and the Toughnut gold-silver-copper-lead-zinc claim block adjoins the Company's Star claims ("Star Project"). In January 2010, Valterra acquired the Rozan gold-silver-lead-zinc property situated just south of the Toughnut. Collectively, the Company has a strong foothold in this part of the belt with over 3,800 hectares under tenure.
Furthermore, the company has optioned the Swift Katie copper-gold porphyry/shear-hosted project located near Salmo BC, to Tosca Mining Corp. The project was drill targeted in August 2010 with Valterra acting as operator. A total of 786 metres was completed in two NQ2-sized holes collared on geophysical anomalies identified at the 17 and Roaring zones; assays are pending.
Since 2007, Valterra has aggressively explored and expanded its claim blocks within the gold-enriched "Rossland Volcanic Belt" by completing over 8,450 metres of diamond drilling, conducting 810 line-kilometres of heli-borne geophysics, undertaking a variety of mapping-sampling and staking programs, as well as acquiring new properties and joint venturing.
Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Director, Valterra Resource Corporation
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.
(1) Historical production/inventory statistics for mines at Rossland and Silver King were obtained from public documents available from the BC Government Mineral Inventory File (MINFILE) database. The reporting standards used in this specific file were obtained prior to the establishment of NI43-101 regulations. Valterra Resource Corporation has not independently verified this historical data. Valterra Resource Corporation has no reason to believe that these results are not representative of mineralization associated with the mining activity.
(2) Resource information gathered from the Kena Property Technical Report dated June 3, 2004.
(3) Resource information gathered from the Kenville Gold Mine - 257 Level Technical Report dated July 22, 2009.

The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

For more information, please contact
Valterra Resource Corporation
Liana Shahinian
1.888.456.1112 or 604.641.2773
liana@mnxltd.com
www.valterraresource.com

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TSX Gold Stocks; Bear Lake Gold (TSX VENTURE:BLG) Reports Drill Results at Larder Lake: Second Diamond Drill to Arrive Shortly

LONGUEUIL, QUÉBEC--( http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to announce the first drill results of its 2010 drill program at the Larder Lake property, in Ontario. Hole 49-W3 intersected 1.7 g Au/t over 9.5m in flow-type mineralization at a depth of 850m and hole 78 intersected 1.9 g Au/t over 4.5m at a depth of 700m, also in flow-type mineralization. The following table highlights the results in all three holes. The attached longitudinal sections show the location of the drill holes.



Table – Highlights

Hole	From	To	Core Length(.1)	Au (g/t)	Zone
NFX-08-49W3	883.0	892.3	9.3	0.29	Carb.
	1017.0	1026.5	9.5	1.74	Flow
including	1022.8	1025.5	2.7	4.75	Flow
BLG-10-77	702.5	704.0	1.5	0.16	Carb.
BLG-10-78	696.5	701.0	4.5	1.43	Carb.
	735.5	738.6	3.1	1.47	UM
	819.0	823.5	4.5	1.90	Flow

(.1)It is not possible at this time to determine true widths. All widths of intercepts reported are core length.
Hole 49-W3 is a re-drill of hole 49, and holes 77 and 78 were drilled on the eastern edge of the mineralized envelope for logistical reasons. The drilling confirmed the presence and extended the typical mineralized alteration zones, and intersected both Carbonate-type and Flow-type mineralization with the exception of Hole 77. This hole was abandoned after deviating too far off target and did not reach the flow-type mineralization. The intensity and characteristics of alteration encountered in these holes will allow the Company to focus more accurately on the interpreted location of the higher grade lenses within the heart of the Bear Lake deposit. The alteration can also be used as a vector toward locating higher grade zones outside the actual mineralized envelope. (See link to longitudinal map below)
Longitudinal Section Carbonate-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Sep10_Carb.jpg
Longitudinal Section Flow-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Sep10_Flow.jpg
2010 Work Program
Following the completion of a $3.76M Financing, the drilling program is now underway at Larder Lake with one drill working on site. A second drill is scheduled to arrive later this month to accelerate the drilling. The program consists of approximately 15,000 meters of diamond drilling focused mostly on the Bear Lake zone. The campaign will mainly target the upper part of the Bear Lake zone at depths between 400m and 1,200m from surface with the objective to define and expand the higher grade mineralized lenses, including both the Carbonate and Flow-type mineralized horizons. The objective is to complete a NI43-101 compliant resource estimate as soon as the density of drilling is sufficient on the Bear Lake zone. The Larder Lake properties extend over 13km straddling the prolific Cadillac-Larder Lake fault zone, host of the historic Kerr Addison mine (11M ounces of gold produced), which is located some 4km to the east. Easily accessible, the properties are close to major infrastructure including a paved road and power line.
QA/QC
The Company has implemented a rigorous QA/QC program independently set up and supervised by P&E Mining Consultants Inc., of Brampton, Ontario. The program includes chain of custody of samples, drill core sawn in half and shipped in sealed bags to Laboratoire Expert, a certified assay laboratory located in Rouyn Noranda, Quebec. Blank samples, blind duplicates and certified standards are also inserted in the sample stream. Samples with gold values higher than 10g Au/t are re-analysed via the metallic screen procedure. Samples containing visible gold are also analysed systematically with the metallic screen analysis.
Qualified Person
The 2010 work program is directed by Francois Viens, P. Eng., President and CEO of Bear Lake Gold. Mr. Viens is a Qualified Person as defined by NI 43-101. Mr. Viens prepared and approved the content of this press release.
Forward-Looking Information
This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Specifically, this news release contains forward looking information about the Company's plans for the work program to be carried out at Larder Lake and plans to complete a resource estimate. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.
About Bear Lake Gold
Bear Lake Gold Ltd. is engaged in the exploration of gold and precious mineral properties in North America. Additional information about the Company is available on the Company's website, www.bearlakegold.com and on SEDAR at www.sedar.ca .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Bear Lake Gold Ltd.
Francois Viens
President and CEO
450-677-1009
450-677-2601 (FAX)
fviens@bearlakegold.com

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Investorideas.com - Gold Stocks; Gold Bullion Development Corp. (TSX-V: GBB) Announces Private Placement

Investorideas.com - Gold Stocks; Gold Bullion Development Corp. (TSX-V: GBB) Announces Private Placement


Vancouver - September 23 , 2010 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSX-V: GBB) (the "Company" or "Gold Bullion") announces a non-brokered private placement financing consisting of up to 11,111,111 units (the "Units") at a purchase price of $0.54 per Unit to raise gross proceeds of up to $6,000,000 (the "Private Placement"). Each Unit will consist of one common share in the capital of the Company and one-half of a transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of one year from the date of issuance, at a purchase price of $0.75 per share.

The Company will pay finder's fees to arm's length parties ("Finders") in connection with the Private Placement, equal to 8% of the gross subscription proceeds realized from the sale of Units by the respective Finder, payable in cash and in addition, at the discretion of the Company, will issue non-transferable share purchase warrants ("Finder's Warrants") equal to 8% of the number of Units sold by the respective Finder. Each Finder's Warrant will entitle the holder to purchase an additional common share in the capital of the Company for a period of one year from the date of issuance, at a purchase price of $0.75 per share. Certain directors, officers and insiders of the Company may participate in the Private Placement. The securities issued will be subject to a hold period of four months and one day.
Proceeds of the Private Placement will be used for the development of the Company's Granada Gold Property in northwestern Quebec. The Private Placement will be subject to approval by the TSX Venture Exchange.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture listed junior natural resource company focusing on the exploration and development of its Granada Gold Property near Rouyn-Noranda, Quebec, and its high grade Castle Silver Mine in Gowganda, Ontario.
For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK: GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com.
Qualified Person
The scientific and technical information in this release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Gold Bullion's CEO and President who is a member of the Ontario Association of Professional Engineers and a "qualified" person in accordance with National Instrument 43-101.
"Frank J. Basa"
Frank J. Basa, P.Eng.President and Chief Executive Officer
For further information contact:
Frank J. Basa, P.Eng., President and CEO: 1-416-625-2342Roger Thomas, Director: 1-613-292-2438
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.


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TSX Mining Stocks News; Valley High Ventures (TSX .V:VHV)Announces CDN$7.5 Million Bought Deal Financing

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Valley High Ventures Ltd. ("Valley High", or the "Company") (TSX VENTURE:VHV) is pleased to announce it has entered into an agreement with Canaccord Genuity Corp. ( the "Underwriter"), under which the Underwriter has agreed to purchase, on a bought deal basis, 10,000,000 Units (the "Units") at a price of CDN$0.75 per Unit for aggregate gross proceeds of CDN$7,500,000 (the "Offering"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to subscribe for one additional common share for a period of 18 months from the closing of the Offering at an exercise price of CDN$1.00. In the event that after four months and one day after the closing of the Offering, the volume weighted average trading price of the Company's common shares on the TSX Venture Exchange, for a period of 20 consecutive trading days exceeds CDN$2.00, the Company may, within five days after such an event, provide notice to the warrant holders of early expiry and thereafter, the Warrants will expire on the date which is 30 days after the date of the notice to the warrant holders.
The Company will also grant the Underwriter an over-allotment option to purchase up to an additional 3,400,000 Units at the offering price for additional gross proceeds of up to CDN$2,550,000 exercisable 48 hours prior to the closing of the Offering.
The Company intends to use the net proceeds of the Offering to conduct exploration on its projects in Mexico and Canada, and for general working capital purposes.
The Offering is scheduled to close on or about October 8, 2010 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The securities issued by Valley High in connection with this Offering are subject to a 4-month "hold period" as prescribed by the TSX Venture Exchange and applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Valley High Ventures Ltd.:
Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Cordero project in Mexico (49% interest) is being evaluated for large bulk mineable silver, gold, zinc and lead deposits. The Mount Polley project is located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary Property, with Imperial. In the Yukon, Valley High has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Valdez Gold Inc. has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property.
VALLEY HIGH VENTURES LTD.
Geoff Chater, President
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."



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TSX Gold Stocks; Millrock (TSX. V:MRO) Samples 9.1 Grams Per Tonne Gold Over 27.4 Meters at Estelle Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010) - Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") today released results of exploration work carried out at its Estelle Project in south-central Alaska.
Chip sampling of mineralized outcrops at the Shoeshine prospect in the southern portion of the claim block returned the following anomalous intervals:

Chip Sample	Grade Au	Width
Traverse #	(g/t)	(m)
SH_2010_042	9.10	27.43
SH_2010_003	1.40	7.62
SH_2010_031	5.88	15.24
SH_2010_038	1.13	4.57
SH_2010_040	1.58	3.05
SH_2010_043	1.48	3.05

At the Oxide Ridge prospect, 20 km to the north, two more anomalous intervals were sampled:

Chip Sample	Grade Au	Width
Traverse #	(g/t)	(m)
OR_2010_001	1.63	3.05
OR_2010_007	1.83	3.05

Additionally, discovery of a new mineralized zone with disseminated arsenopyrite and tourmaline returned anomalous values in talus fines sampling. This zone, named Oxide North, is located approximately 2.5 km north of the original Oxide Ridge showing. Millrock is currently conducting induced polarization geophysical surveys to test for disseminated sulfides in the valley separating the two gold occurrences. Soil geochemical surveys in the valley have returned widespread arsenic anomalies with gold.
Millrock has expended approximately US$500,000 on the Estelle property in 2010 using funds raised from Teck Resources Limited ("Teck") in a private placement financing completed in May, 2010. Teck's subsidiary, Teck American Incorporated ("TAI"), upon completion of the initial exploration program now being carried out by Millrock, has the right to elect to enter into an earn-in agreement. TAI can earn an initial 55% interest in the property by incurring US$3.6 million in expenditures over two years, and then a further 10% interest by sole funding an additional US$5 million in exploration expenditures on the property and making cash payments to Millrock totaling US$400,000 prior to the end of 2014.
The Estelle property, located 160 km northwest of Anchorage Alaska, was purchased by Millrock in 2009 from Hidefield Gold plc., (HIF - AIM), and Mines Trust Co. a privately held Alaska-based company. Presently, Millrock owns a 100% interest in the property which is subject to a 3.0% royalty. Consisting of 214 claims covering 13,157 hectares, the property is adjacent to Kiska Metals' Whistler copper-gold deposit, with a resource totaling over five million ounces of gold equivalent (Indicated resource: 30 million tonnes grading 0.87 g/t gold, 2.46 g/t silver and 0.24% copper [1.31Moz Gold Equivalent] and an 134 million tonnes grading 0.64 g/t gold, 2.18 g/t silver and 0.20% copper [4.44Moz Gold Equivalent], as reported on Kiska's website). Estelle is in the Kahiltna Terrane, an assemblage of rocks that hosts Northern Dynasty/Anglo American's giant Pebble copper-gold-molybdenum-silver deposit, with a resource totaling 107.4 million ounces of gold, 80.6 billion pounds of copper and 5.6 billion pounds of molybdenum (Measured & Indicated 5.942 billion tonnes at 0.42% copper, and 0.35 g/t gold and 250 ppb molybdenum using a 0.3% cutoff plus 4.835 billion tonnes at 0.24% copper and 0.26 g/t Au and 215 ppb molybdenum using a 0.3% cutoff, as reported on Northern Dynasty's website).
Previous work by Millrock at Estelle has identified high-grade gold veins spanning the property which measures approximately 5 km by 20 km. These gold-bearing veins are significant targets, but at the Shoeshine and Oxide Ridge prospects the veins are spatially associated with porphyritic intrusive rocks, quartz stockworks and hydrothermal breccias. These features, and extensive surface geochemical anomalies, indicate the potential for large, bulk minable, intrusive-related or porphyry style deposits.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class gold and copper deposits in mineral rich Alaska and Arizona, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the financial risk and attendant shareholder dilution. Millrock currently has eleven active exploration projects in Alaska, and three porphyry copper prospects in Arizona. Its joint venture partners, underwriting some $5.8 million of exploration in 2010, include some of the leading names in the mining industry: Kinross, Teck, VEC, Inmet and Altius.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."


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Gold Stocks News; Severstal Gold Increases Stake in Sacre-Couer Minerals, Ltd.

Gold Stocks News; Severstal Increases Stake in Sacre-Couer Minerals, Ltd.

AMSTERDAM, THE NETHERLANDS--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010) - Severstal Gold N.V. ("Severstal Gold"), a subsidiary of OAO Severstal ("Severstal") (LSE:SVST)(RT:CHMF), announced today that it has purchased 3,900,000 common shares ("Common Shares") of Sacre-Couer Minerals, Ltd. ("SCM") at an average price of CAD$1.5444 per Common Share for a total cost of CAD$6,023,160.00 on September 22, 2010. The securities acquired represent ownership and control of approximately 9.89% of the issued and outstanding Common Shares as at the date hereof.
The purchase raised Severstal Gold's direct holdings in SCM to 5,001,500 Common Shares. Castleway Limited, a subsidiary of Severstal Gold holds 2,750,000 Common Shares. Following this transaction, Severstal will have ownership and control over 7,751,500 Common Shares, representing approximately 19.67% of the issued and outstanding Common Shares as at the date hereof.


The additional acquisition of Common Shares was effected to increase Severstal's beneficial ownership position in SCM. Severstal Gold has entered into a binding agreement with SCM to acquire 100% of the issued and outstanding Common Shares that it does not already own, at a price of CAD$1.60 per Common Share.
This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Sergey Loktionov, Public Relations, OAO Severstal at +7 495 9810910 ext. 6446.


About Severstal
OAO Severstal is one of the world's leading integrated steel and mining companies with listings in Russia and on the London Stock Exchange. Its main assets are in Russia, Ukraine, Kazakhstan, Italy, France, the USA and Africa. The company focuses on high value added and unique niche products. In 2009, Severstal produced 16.7 million tonnes of steel.


Severstal Gold is an established international, pure-gold producer focused on emerging markets with currently eight producing mines, two development projects, five advanced exploration projects and a broad portfolio of early exploration projects and licenses located across West Africa in Guinea and Burkina Faso, Kazakhstan and the Russian Federation.
The addresses of Severstal and Severstal Gold are:

OAO Severstal

2/3 Klara Tsetkin street, RU-127299

Moscow, Russia

Phone: +7 (495) 926 77 66

Fax: +7 (495) 926 77 61

Severstal Gold N.V.

Strawinskylaan 3105 Atrium

1077 ZX Amsterdam

The Netherlands

Forward Looking Statements
This news release contains statements that may be forward-looking statements regarding future events or the future financial performance of OAO Severstal. Forward looking statements are identified by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms, or other similar expressions. OAO Severstal wishes to caution you that these statements are only predictions and that actual events or results may differ materially. OAO Severstal does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Factors that could cause the actual results to differ materially from those contained in forward-looking statements of OAO Severstal may include, among others, general economic conditions in the markets in which OAO Severstal operates, the competitive environment in, and risks associated with operating in, such markets, market change in the steel and mining industries, as well as many other risks affecting OAO Severstal and its operations.

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Uranium Stock News; Uranium Resources, Inc. (NASDAQ: URRE) Completes Drilling in Ambrosia Lake

LEWISVILLE, Texas--( http://www.investorideas.com/ gold and mining stocks blog ) -Uranium Resources, Inc. (NASDAQ: URRE) (“URI”) announced today that the Company has completed drilling at its Section 13 property in Ambrosia Lake in McKinley County, New Mexico, approximately 10 miles northeast of Grants.
Three holes, totaling more than 2,600 feet, were drilled on the property. A total of 95 feet were cored and 75 feet of three inch core were recovered. Gamma ray and Prompt Fission Neutron (PFN) logging tools were used to evaluate the sub-surface environment. The core has been quartered by URI and the core samples will be shipped to a laboratory which will evaluate the suitability of the property for in-situ recovery (“ISR”) mining, a process that is expected to be completed in December 2010.


“The drilling at Ambrosia Lake is part of our strategy to determine the suitability of our Section 13 property for profitable ISR production in order to prioritize our efforts as we continue to advance toward production in New Mexico. As we await the results of the core evaluation, we will maintain our dialogue with the communities and government agencies regarding the safety and suitability of ISR mining and similarly intend to continue to reach out to the local residents who stand to benefit from a potential return of uranium mining to the state,” said Don Ewigleben, President and Chief Executive Officer of URI.
URI received a permit for drilling the property from the New Mexico Mining and Minerals Division in November 2008. The permit, which was renewed in July 2010, allows URI to drill up to ten holes for the purpose of extracting core samples until November 2011.
URI has over 100 million pounds of in-place, mineralized uranium material in New Mexico and approximately 2.4 million pounds in the Ambrosia Lake area. Stewart Brothers of Milan, NM conducted the drilling as part of URI’s continued commitment to the local New Mexico economy.


About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas where the Company currently has ISR mining projects. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico and a NRC license to produce up to 1 million pounds of uranium per year. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI’s properties is currently in production.
URI’s strategy is to fully exploit its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.
Uranium Resources routinely posts news and other information about the Company on its web site at http://www.uraniumresources.com/.


Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to the Company’s mineralized uranium materials, timing of receipt of mining permits, production capacity of mining operations planned for properties in South Texas and New Mexico, planned dates for commencement of production at such properties, revenue, cash generation and profits are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, the spot price and long-term contract price of uranium, weather conditions, operating conditions at the Company’s mining projects, government regulation of the mining industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, timely receipt of mining and other permits from regulatory agents and other factors which are more fully described in the Company’s documents filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.


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TSX Mining Stocks News; Kenai Resources (TSX.V:KAI) Starts Drilling at Hope Butte and Albisu Secures Key Gold Project in Brazil

TSX Mining Stocks News; Kenai Resources (TSX.V:KAI)  Starts Drilling at Hope Butte and Albisu Secures Key Gold Project in Brazil

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) -  - Kenai Resources Ltd (TSX VENTURE:KAI) ("Kenai") announces that drilling at its Hope Butte, Oregon gold project located just west of the Idaho border is scheduled to commence around the end of September. Kenai's immediate drilling program of approximately 3,000 metres is designed to replicate the results and the mining potential recorded at Hope Butte in the 1996 to 2000 period by Chevron Resources and its joint venturers, and to advance Hope Butte to NI 43-101 status. To this end, four initial holes are being drilled by twinning Chevron's prior results, including several very high grade intercepts. Assay results from the initial drilling at Hope Butte will be released as soon as available.


Kenai also advises that, following the completion of the initial drilling at Hope Butte, the rig will be remobilised for a planned 1,000 metre drilling program at the Albisu farm-in exploration project in northern Nevada. This program is currently anticipated to commence during November. The Albisu gold project was drilled by Chevron Resources in 1979 and 1981 and Western Energy Development Corp. ("WEDC") followed up with four core holes in 2008 to twin Chevron's AL-14 drill hole that reportedly intercepted 6.5 meters at 6.2 gram per tonne ("gpt"). The WEDC holes confirmed the gold zone by intercepting 1.6 meters of 12.46 gpt and 8 meters of 1.94 gpt. To date WEDC has drilled a total of 3,729 meters of core at Albisu in 2008 and 2009. That drill program defined a mineralized stockwork sulphide-quartz-calcite zone that is up to 73 m thick. Gold values range from 14.6 gpt over 1.8 meters to intervals between 3 and 32 meters of 0.2 to 0.5 gpt.

Kenai Entry to Brazil via Strategic Joint Venture with Gold Anomaly on its Sao Chico Gold Project

Kenai has executed an Option Agreement with Gold Anomaly Limited (ASX:GOA) for Kenai to acquire 50% of the Sao Chico gold project in Brazil, by funding project exploration ahead of a possible decision to acquire equity in the project, with key terms as under:

1. Kenai has an 18 months option to acquire 50% of Sao Chico following an advance to GOA of A$1m and committing to provide A$2m project funding, these funds will be in the form of a loan from Kenai to GOA until exercise of the option. If Kenai does not exercise the option, the loan funds advanced will be repaid to Kenai by GOA.
2. Kenai has a further option to acquire further 25% by payment to GOA of A$1m and committing to provide A$1m project funding.
3. GOA has right to continuing participation at 25% level or can sell 25% to Kenai based on US$30/oz for attributable CIM Mineral Resources gold ounces plus US$60/oz for attributable CIM Mineral Reserves gold ounces at that time.
4. Kenai to pay a 10% Net Profits Interest (NPI) for 5 years to GOA over Kenai's attributable interest, whether at 50% or 75%.

Kenai's objectives in this transaction are to undertake local and regional exploration and development, over the tenement area covering 1,416 hectares, initially targeting one million gold ounces in the 56 hectare core area, the site of extensive prior garimpeiro surface workings. Kenai's project funding is to generate the necessary data to accelerate a Mining Lease application.
Kenai will assume the role of project manager, utilizing existing GOA personnel as well as its own personnel. The focus is on fast tracking initial gold production and defining a NI 43-101 compliant mineral resource. GOA has been planning the commencement of production by the end of 2010 at the rate of 20,000 gold ounces per annum. Production is planned from an expected high grade gold deposit using a minimal capital cost, low operating cost gravity recovery operation. On exercise of the Option, Kenai's participation will be as an incorporated joint venture with GOA, covering GOA's rights under contract with the local garimpeiro landowner. This landowner has recently been granted a 12 month trial mining permit or GUIA, with a possible 12 month extension to the permit, during which time a feasibility study for a full scale project is planned to be completed. As Greg Starr, President of Kenai is also a Director of Gold Anomaly; the intended transaction may be determined by the TSX Exchange as a non-arms length acquisition.
About the Sao Chico Gold Project, Pará State, Brazil:
The Sao Chico project is located 340 kilometres south-east of the major city of Manaus. It lies within a prominent north-west to south-east trend in Brazil's Tapajós Mineral Field, exploited over only the past 30 years by a gold rush of some 500,000 garimpeiros, ie artisanal alluvial miners, for the production of unofficially estimated 20 to 30 million ounces of gold. With little underground mining expertise, the garimpeiros were urged by government to consolidate their claims and joint venture with established mining companies. The field has had little modern exploration undertaken.
San Chico is in cleared low grade farming land adjacent to the Transgarimpeiro Highway, at a road distance of about 350 kilometres or 8 hours' drive from the regional city of Itaituba, to the north-east. Light aircraft from Itaituba service Sao Chico via two local airstrips.
Extensive surface mining has been undertaken by garimpeiros at Sao Chico for over 20 years, with minor underground workings in primary rock which occurs at less than 20 metres depth. There are several sub-parallel gold-bearing coarse grained quartz/sulphide veins, with a strike length so far known of 1000 metres.
Investigations by GOA to date have determined the following:

• Veins weathered up to around 10 metres depth, free dig by excavator to the depth of oxidation.
• Underground sampling by GOA along about 70 metres of drives from a 20 metre deep shaft in free-standing primary rock, with average gold grades of 15 g/t, from over 100 samples. 
• Good metallurgical recoveries, both by gravity and cyanidation methods.

Current plans are for delivery during October of a 100 tonnes per day capacity, integrated gravity processing plant, which will allow commencement of the GUIA trial mining at the permit rate of 50,000 tonnes per annum by year end. There are abundant local water supplies and ample tailings dam capacity.
From its due diligence investigations, Kenai considers there is excellent potential at Sao Chico for delineation of NI 43-101 mineral resources of sufficient tonnage and grade to support a substantial gold project operation. An independent NI 43-101 report is currently being prepared for the project.
The Tapajós gold region is situated in the south-central part of the vast Amazon Craton, which is divided into two, the Guyana Shield north of the Amazon River and the Brazilian Shield, with its nucleus as the Archaean greenstone-granitoid terrane, south of the Amazon. As shown in the appended regional geology plan (http://media3.marketwire.com/docs/k921c.pdf), Sao Chico is in the same geological unit, the intrusive Parauari Suite, as the Tocantinzinho (TZ), Palito and Sao Domingo projects. TZ is a major gold project acquired for CAD$122 million in July 2010 by Eldorado Gold (TSX:ELD, ASX:EAU). In June 2010, ELD acquired 26.8% equity in Serabi Mining plc, the AIM-listed company which owns 100% of the Palito underground mine. From Sao Chico, the TZ project is 54 kilometres north-west and Palito is 23 kilometres east north-east.
Kenai Chairman Daniel Kunz said today, "Kenai is pleased to be joint venturing with Gold Anomaly on the Sao Chico project. We are committed to bringing the project into production in the short term and have expectations of defining a significant resource at Sao Chico leading to a long term mining project. Kenai has negotiated a deal structure that overall is low-risk in terms of financial exposure in the event that our positive expectations for Sao Chico are not realised during the Option Agreement period."
GOA Non Executive Director Tom Fermanis said today, "We believe our shareholders will view this agreement as favourable. The agreement with Kenai injects funds into the Sao Chico project, fast tracking production and exploration, and should a JORC or CIM NI 43-101 compliant resource be developed at Sao Chico, both GOA and Kenai will share in the upside. Kenai are targeting a potential million ounce deposit, potentially enabling GOA to benefit from a strong cash flow from the project. The agreement with Kenai will enable GOA management to fully focus on developing its flagship Crater Mountain project in PNG".
About Kenai Resources:
Kenai is a Canadian company focussed on precious mineral project exploration and development, towards early significant gold production. In addition to the Albisu, Nevada, advanced gold exploration project, Kenai's principal project assets are the wholly-owned Quartz Mountain and Hope Butte gold projects in South-Eastern Oregon, both located in Malheur County, close to the Oregon border with Idaho. All three of these projects are epithermal gold projects.
Kenai's current gold resources from the two Oregon projects, aggregating approximately 500,000 contained gold ounces, are summarized as follows:

Project		Tonnes		Grade		Ounces Au		Status/Classification
Quartz Mountain		15,050,200		0.80 g/t Au		352,667		Indicated Resources, NI 43-101 compliant
Hope Butte		5,000,000		0.91 g/t Au		146,300		Historical, not NI 43-101 compliant

Footnotes:

1. For Quartz Mountain, resources above a 0.34 g/t cutoff with silver converted to gold equivalent using a ratio of 49.5:1 silver to gold. Metallurgical recoveries were not considered. Indicated resources are as reported in an independent November 2006 NI 43-101 report, posted on SEDAR at that time.
2. The Hope Butte resources are considered historic in nature, do not comply with current NI 43-101 standards, have not been verified by the Company and therefore should not be relied upon. It is uncertain if further exploration will result in the discovery of an economic mineral resource.

Shares Outstanding: 31,231,734
On behalf of the Board of Kenai Resources Limited
Daniel Kunz, Chairman
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed and elsewhere in the company's periodic filings with Canadian securities regulators. The economic viabilities of the resources estimates discussed in the release have not been established and may not be. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

Kenai Resources Ltd.
604-669-5753
604-688-9895 (FAX)
info@kenairesources.com
www.kenairesources.com

 

 

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Mining News; Douglas Lake (OTCBB:DLKM) Acquires 100% Interest in 4 New Properties Bordering Canaco in the Handeni District

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  Sept. 22, 2010 - Douglas Lake Minerals Inc. (OTCBB:DLKM)(FRANKFURT:D60) is very pleased to announce that the Company has recently received approval from its Board of Directors to both enter into and immediately close upon the terms and conditions of a certain Mineral Property Acquisition Agreement (the "Acquisition Agreement"), with IPP Gold Ltd. ("IPP Gold"), to acquire a 100% interest in four prospecting licences (the "PLs"), totaling approximately 800 square kilometres, located in the Handeni District of Tanzania and which are owned or controlled by IPP Gold and its affiliates.
Harp Sangha, CEO of the Company, stated: "This new Acquisition Agreement with IPP Gold represents a significant step forward for the Company. Along with our new partners at IPP Gold, we will map out our new strategy and course of action over the coming weeks and months. The Handeni District has become alive with activity since the extraordinary drilling results from Canaco Resources have placed this region on the world stage. We plan to focus our energy and resources on the exploration and potential development of this new acquisition. Our aim is to direct Douglas Lake down a path towards success."
On September 13, 2010 Canaco announced significant new exploration developments including the identification of important new parallel trends of gold mineralization and discovery of a new mineralized zone five kilometres W/NW of the Magambazi Gold Discovery. Early results from the regional exploration on the Handeni Gold Trend indicate the work program has already made significant progress in identifying new gold targets and upgrading the potential of previously identified gold zones. Over the past month, the regional program has included over 3000 metres of Reverse Circulation ("RC") drilling, approximately 10,000 metres of reconnaissance Rotary Air Blast ("RAB") drilling, a detailed airborne survey, detailed mapping of some of the key target areas defined to date and geochemical interpretation. The Handeni Gold trend is now recognized as consisting of two, parallel gold trends with a combined strike length of over 15 kilometres (Source: Canaco Resources).
In April 2010, TD Newcrest, A Division of TD Securities, initiated coverage of Canaco Resources and announced a speculative buy recommendation with a $1.25 target price. They now believe that $175/oz is an appropriate resource multiple given the forecast high grade/low cost nature of the ounces discovered to date by Canaco. They have revised their target price to $6 per share and maintain their speculative buy rating.
The closing of the Acquisition Agreement
In accordance with the closing today of the Acquisition Agreement IPP Gold has now become a major stakeholder in the Company. Pursuant to the terms of the Acquisition Agreement the Company has now issued 133,333,333 restricted shares of common stock to IPP Gold in exchange for 100% interest in the four PLs of the new Handeni Project, with no further payments in shares or cash required. This acquisition of these four PLs as a whole represents the largest land position in the Handeni District, and the boundary area is geologically contiguous to Canaco's Magambazi gold project.
In addition, and accordance with the closing of the Acquisition Agreement, the Board of Directors of the Company has also accepted the consent to act as both a director and as the Chairman of the Company from Reginald Mengi, together with the consents to act as directors of the Company from each of Reyno Scheepers and Douglas Boateng. Mr. Mengi will replace the Honorable Joseph Rugumyamheto as the Company's Chairman and Mr. Rugumyamheto will continue to serve as a director of the Company.
The Company's new directors
About Reginald Mengi
Mr. Reginald Mengi is the Chairman and owner of IPP Resources. He also chairs IPP Ltd., one of the largest private sector holding companies in Tanzania. Mr. Mengi commenced IPP Ltd.'s business in the mid 1980's manufacturing ball point pens. Today the IPP group of companies is engaged in various areas including bottling of Coca Cola products, drinking water, manufacturing and bottling of drinks and spirits, mining of minerals and gemstones, gemstone cutting, lapidary and media.
Until 1985, Mr. Mengi also worked as a Chartered Accountant for Coopers & Lybrand Tanzania where he served in the role as Chairman and Managing Partner and led auditing and consultancy teams and participated in the establishment of companies and institutions.
About Reyno Scheepers
Dr. Reyno Scheepers' involvement with the mining industry stretches for a period of 22 years. He started off as a researcher at the Fuel Research Institute (CSIR) of South Africa where he gained experience in the composition and characteristics of various South African coal fields. This was followed by a two year period as a geologist at a South African gold mine where he gained experience in underground geology, underground and surface exploration and gold exploration project planning. He then joined the University of Stellenbosch where he became a professor in petrology/mineralogy in 1999.
Since 1995 Dr. Scheepers directed his efforts towards the investigation of gemstone deposits covering alluvial and kimberlitic diamond deposits in South Africa, the DRC and in Tanzania. One of his major achievements in Tanzania was the investigation of the geology and technical aspects of the Merelani tanzanite deposit which eventually led to the successful listing of the first colored gemstone company on the JSE.
Professor Scheepers is also closely involved in the application and development of geochemical analytical techniques and was in charge of the running of an XRF laboratory, an ICP-AES laboratory and a micro thermometric laboratory. He participated in the development of international geochemical reference standards and completed numerous challenging analytical problems for the industry over the years.
Dr. Scheepers' interest in providing small scale miners with the necessary skills to conduct safe and effective mining led to the establishment of the Gemstone Research Centre at Stellenbosch University and currently the Unit for Gemstone Geology ("UGG"). The UGG is a collaborative training and research unit between Free State and Dar es Salaam Universities through which research on gemstone deposits is currently conducted.
Dr. Scheepers received his B.Sc. (Hons), Cum Laude in 1979, his M.Sc, Cum Laude in 1982 and his PhD in 1990 from the University of Stellenbosch.
About Douglas Boateng
Dr. Douglas Boateng has over 18 years of extensive multi-sector international experience. His career includes positions as a CEO, director and senior level consulting in Technology (ICT), Chemicals/Pharma-chemical, Pharmaceutical and Biotechnology, Aviation, Engineering, Business management, Mergers and Acquisitions, Strategic alliance and partnerships, Logistics and Supply Chain Management, Media, Consulting, Corporate and Strategic Business Development, Corporate Governance and Advisory services to selected Government ministries. Dr. Boateng has also successfully worked and consulted for some of the world's leading corporation's in Europe, USA and Africa.
Prior to joining IPP Resources, Dr. Boateng founded PanAvest International, an organization with a vision to assist companies profitably extend their market reach through the application of innovative Business Development Logistics and Supply Chain Management solutions. He has acted as an independent advisor and consultant to one of Scandinavia's largest generic pharmaceutical companies on logistics, supply chain and business development and strategies and one of Africa's leading healthcare distributors.
Dr. Boateng is also a post graduate visiting professor on logistics and supply chain management and a Masters and Doctoral project supervisor at one of Africa's largest and most respected business schools. He current sits on the editorial board of Smart Procurement, the largest supply chain related portal in Africa and the Middle East.
Dr. Boateng holds a Graduate Diploma in Company Direction from the Institute of Directors, a Doctorate in Engineering Business Management from the University of Warwick-UK, a MSc in Industrial Logistics from the University of Central England-UK and a post graduate diploma in transport and logistics from Cranfield Institute of Technology, UK.
As a consequence of the appointments of each of Mr. Mengi, Dr. Scheepers and Dr. Boateng with the closing of the Acquisition Agreement, the Board of Directors and Executive Officers of the Company are now comprised of the following:

Name	Position
Harpreet Singh Sangha	President, Chief Executive Officer and a director
Reginald Mengi	Chairman of the Board and a director
Honorable Joseph Rugumyamheto	Director
Wenqin Zhang	Director
Revno Scheepers	Director
Douglas Boateng	Director
Herminder Rai	Chief Financial Officer, Secretary, and Treasurer

About Douglas Lake
The Company is an emerging mineral exploration company focused on exploring and potential development of mining opportunities in Tanzania. For further information please contact Douglas Lake at (604) 575-3552 or go to http://www.douglaslakeminerals.com/.
Safe Harbor Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the "SEC") (available at http://www.sec.gov/) and with Canadian securities administrators (available at http://www.sedar.com/). Such risks and uncertainties may include, but are not limited to, the risks and uncertainties set forth in the Company's filings with the SEC, such as the ability to obtain additional financing, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the SEC. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

For more information, please contact
Douglas Lake Minerals Inc.
(604) 575-3552
(604) 575-3559 (FAX)

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