Lakeland Resources had a successful 2013, with its share price increasing 350% over the year. The company focused on establishing itself as a uranium explorer in the Athabasca Basin by acquiring nine properties and assembling an experienced team. Exploration work was completed on the Gibbon's Creek property in preparation for drilling, attracting a funding commitment from Declan Resources for a $1.25 million drill program in 2014. Lakeland aims to continue advancing its portfolio and creating additional value for shareholders in the new year.

1. TSXV: LK FSE: 6LL
January 10, 2014
Dear Shareholders and Investors,
As 2013 ends and we begin a new year it gives us time to reflect on the year that has passed and look
forward to the year to come. Above all, 2013 was a formative year for Lakeland in which the foundation
for a strong company was built. While the TSX Venture and junior equity markets were challenging,
Lakeland performed well moving from $0.04 at the start of the year, hitting a high of $0.25 on Dec 30,
and closing the year at $0.18 for a return of 350%; this while the overall S&P/TSX Venture Composite
Index declined approximately 24% and many companies struggled to raise capital and market interest.
While we are happy to have delivered through the year, we are aiming for more in 2014, and view this
as a start.
Building a Premier Uranium Explorer in the Athabasca Basin
Early in 2013 Lakeland management, recognizing an eight year low in the uranium price, and strong
fundamentals for the space moving forward, moved quickly to establish the company in the world’s
premier locale for uranium exploration: the Athabasca Basin, Saskatchewan. While both the uranium
and TSX Venture markets were depressed - people, projects, and financing from strong partners were
available. Moving in contrarian fashion, we seized the opportunity, acquiring nine properties 100%,
largely by staking at low cost/or through simple option terms. Many of the properties had multi-million
dollars of historic exploration to build from and displayed other key attributes such as access to
infrastructure and shallow target depths increasing the economics of exploration and any potential
discoveries and development(s).
Formation of a Strong Uranium Team
The strength of an exploration company lies in its team, and forming a strong team able to execute our
goals and deliver shareholder value was a priority. As the initial properties were being acquired, Roger
Leschuk agreed to join the company to head Corporate Communications. Saskatchewan-born and
passionate about his province and uranium exploration, Roger has extensive experience as an
investment advisor and investor relations professional and is the backbone for Lakeland’s
communications and the conduit for our investor relations.
We have invited four notable uranium experts as founding members of our advisory board: Rick
Kusmirski, a former exploration manager in the Athabasca Basin for Cameco (TSX: CCO) and previous

2. president of JNR Resources (acquired by Denison); Tom Drolet, a well-known nuclear energy and
uranium industry specialist; John Gingerich, a geologist with historic experience on Lakeland claims in
the Basin; and Canon Bryan, an M&A and corporate development executive who was involved in the
early founding/formation of Uranium Energy (AMEX: UEC) which has gone on to become a uranium
producer in the United States.
Our technical team is managed by Dahrouge Geological Consulting Ltd. of Edmonton who has extensive
experience with uranium exploration and specifically in the Athabasca Basin.
The Board of Directors was also strengthened with the addition of Ryan Fletcher and David Hodge from
Zimtu Capital Corp. (TSXv: ZC), a significant shareholder of the company, and Neil McCallum, a uranium
exploration specialist who was involved in the early stages of exploration at the Waterbury Property (JZone) later acquired by Denison in 2013 from Fission Energy as well as the Patterson Lake North and
South Properties of Fission / Alpha Minerals / and Azincourt.
At the same time, we are building strong financial management and corporate governance with Sam
Wong as CFO and Frances Petryshen as Corporate Secretary. Sam was former Corporate Controller for
Luna Gold (TSX: LGC) where he oversaw the company’s transition from development to commerical
production and is currently CFO of Lowell Copper (TSXv: JDL) and Chesapeake Gold (TSXv: CKG). Ms.
Petryshen came from Canalaska Uranium (TSXv: CVV) and brings corporate compliance and governance
strength as well as a keen business sense and experience in the Basin with regard to financings,
corporate development and strategic partnerships.
Network Investor Relations, Transend Resource Group and Palisade Capital have all contributed as part
of the team with marketing, corporate finance and capital markets expertise.
All of the individuals and companies involved with Lakeland share common traits including drive, a
strong work ethic, passion for the company and a shareholder first mentality. As a group we are working
cohesively, collectively and well together. This is has contributed to our success and as we move forward
the team will enable us to drive results.
Exploration Update
This year the focus of exploration was on the Gibbon’s Creek Property located along the northern
margin of the Basin. Surface work was completed in late 2013 to prepare the project for drilling
including a RadonEx survey, boulder sampling / prospecting and a ground resistivity survey. The work
and quality of the property was enough to attract a major commitment from Declan Resources (TSXv:
LAN) recently to earn into the property up to 70% by spending $6.5 million in exploration, including a
minimum of $1.25 million in 2014 the bulk of which will go to drilling, and making cash and share
payments and providing Lakeland with a royalty. Declan is backed by Wayne Tisdale who amongst other
accomplishments was part of the group that sold Rainy River Resources to New Gold (TSX: NGD) for
$310 million. The partnership that has been formed to advance the property will be strong for both
groups moving forward.
A Look Forward
While the foundations have been built this year, we are constantly looking towards what’s next and
setting goals and taking action to grow. Lakeland currently has a market capitalization of approximately

3. C$6 million and we are set on catching up to some of the leading pure uranium explorers in the Basin
such as NexGen Energy (TSXv: NXE) which currently has a market capitalization of approximately C$35
million. Drilling is expected to commence Q1 2014 at Gibbon’s Creek and the minimum $1.25 million
dollar program will be funded by Declan, which will give our investors exposure to one of the largest drill
programs in the Basin early this year. As the drilling program commences we anticipate investor
speculation on the program and results. At the same time we will continue to advance our other
properties including South Pine and Perch Lake and generate properties and build out our portfolio. We
are not a stagnant group and are moving to create additional value.
In 2013, investors and executives have been exposed to a plethora of challenges, but at the same time
immense opportunity. Investors have narrowed their focus to companies delivering, driving forward and
putting in the work to generate returns. We sincerely appreciate the support we have received from our
team, the investment community and shareholders and look forward to continuing to deliver value in
2014.
Sincerely,
LAKELAND RESOURCES INC.
Jonathan Armes – President, CEO and Director
Sam Wong – CFO
Frances Petryshen –Corporate Secretary
Ryan Fletcher – Director
Neil McCallum – Director
David Hodge – Director
Roger Leschuk – Corporate Communications
Advisory Board:
Rick Kusmirski – Advisor
Tom Drolet – Advisor
John Gingerich – Advisor
Canon Bryan – Advisor
For more information on Lakeland Resources Inc. please visit the corporate website at:
http://www.lakelandresources.com or contact Roger Leschuk, Corporate Communications at Ph:
604.681.1568 or TF: 1.877.377.6222 or email: roger@lakelandresources.com
Statements in this document which are not purely historical are forward-looking statements, including any statements
regarding beliefs, plans, expectations or intentions regarding the future.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such
forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and
technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause
actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour
as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that
our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that
equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results
which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that
we may not complete environmental programs in a timely manner or at all; that market prices may not justify commercial
production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our
properties.

4. Photo: Floatbase at Gibbon’s Creek Property, Athabasca Basin Saskatchewan