News Release: Lakeland Resources Inc. Options Ontario Gold Property to New Dimension
1. TSXv: LK FSE: 6LL
Lakeland Resources Inc. Options Ontario Gold Property to New Dimension
September 16, 2013 – Lakeland Resources Inc. (TSXv: LK) (FSE: 6LL) (the “Company” or
“Lakeland”) announces that, in keeping with its focus on uranium exploration in the Athabasca
Basin, it has entered into an option agreement (the “Agreement”) with New Dimension
Resources Ltd. (“New Dimension”) whereby the Company has granted New Dimension the
option to acquire a 70% interest in the Midas Gold Property (the “Property”) located near Wawa
in north central Ontario.
New Dimension can earn the 70% interest by spending C$1.2 million in exploration (including a
firm commitment of C$300,000 no later than December 31, 2013), issuing 1.5 million shares of
New Dimension and paying C$100,000 to the Company on or before December 31, 2016. Once
New Dimension has earned its 70% interest, Lakeland will be free carried on further costs until
New Dimension completes an initial NI 43-101 complaint resource estimate for the Property.
The Property is subject to a 2% NSR to the underlying optionors, a portion of which can be
purchased.
“This is an excellent agreement for our shareholders,” stated Jon Armes, President and CEO of
Lakeland. “Our shareholders will be exposed to a fully funded drill program at Midas before the
end of this year and further project advancement by New Dimension. We are happy to be
working with the New Dimension team and look forward to the results from their drilling and
exploration at Midas as we focus on advancing our uranium business.”
The Midas Gold Project
The Midas Project consists of 12 claims (139 units) covering 2,112 hectares and is situated
approximately 50 kilometres northeast of the town of Wawa in northern Ontario. The Property is
road accessible and lies 20 kilometres southeast of Richmont Mines’ Island Gold Mine complex
and Argonaut Gold’s Magino Gold Project.
During the winter of 2011, Lakeland carried out ground magnetics and induced polarization in
the southwestern area of the Property. To follow up this program the Company completed
sixteen (16) diamond drill holes totaling 2,353 metres. The drilling was designed to test induced
polarization anomalies and surface gold showings. Drilling partially defined two gold bearing
zones (zones M-11 and M-16) with fourteen (14) of the holes reporting gold mineralization.
2. TSXv: LK FSE: 6LL
Highlights of the drilling included:
• 4.7 metres of 5.92 g/t Au; including 8.88 g/t Au over 2.6 metres in drill hole M-11-04
and;
• 7.03 g/t Au over 2.0 metres in drill hole M-11-05.
The drilling identified a broad gold bearing structure, which can be traced for over 500 metres in
strike length. Work to date indicates that the gold system lies along the southern limb of a broad
anticlinal fold structure and is associated with widespread silicification and carbonization. Gold
mineralization remains open on strike and down dip.
Property maps and additional information will be available on the New Dimension website.
New Dimension is currently finalizing a budget for the Property with an upcoming diamond drill
program anticipated shortly.
NI 43-101 Disclosure
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf
of the Company by Mr. Garry Clark (P.Geo), a Director of Lakeland.
About Lakeland Resources Inc.
Lakeland Resources Inc. is a pure play uranium exploration company focused on the Athabasca
Basin in Saskatchewan, Canada. The Company’s common shares trade on the TSX Venture
Exchange under the symbol “LK” and on the Frankfurt Stock Exchange under the symbol
“6LL”.
For more information, 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
On Behalf of the Board of Directors
LAKELAND RESOURCES INC.
“Jonathan Armes”
3. TSXv: LK FSE: 6LL
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@lakelandresources.com
Web: http://www.lakelandresources.com
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.
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. Forward looking statements in
this news release include that Lakeland shareholders will be exposed to a fully funded drill program at Midas before
the end of this year and that an upcoming diamond drill program is anticipated shortly.
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.