Vancouver,BritishColumbia,January5,2011--DouglasLakeMineralsInc.(OTCBB:DLKM)(the“Company”or“DouglasLake”)ispleasedtoannouncethatithasfiledaCanadianNationalInstrument43-101StandardsforDisclosureofMineralProjects(“NI43-101)TechnicalReport(the“TechnicalReport”)foritsHandeniProject.DouglasLake’s100%ownedHandeniProjectconsistsoffourprospectinglicensescoveringapproximately800squarekilometersinthenewlydevelopinggoldfieldsofEasternTanzania.DouglasLakefiledtheTechnicalReportwiththeBritishColumbiaSecuritiesCommissionviatheSystemforElectronicDocumentAnalysisandRetrieval (SEDAR).
TheTechnicalReportwaspreparedbyDr.ReynoScheepers,Ph.D.,Pr.Sci.Nat.,aSouthAfrican basedconsultinggeologistandadirectoroftheCompanywhofulfillstherequirementstobea‘Qualified Person’ for the purposes of NI 43-101.
TheTechnicalReportdetailstheresultsofexplorationactivitiesconductedbyIPPResources,thepreviousholdingcompanyofthearea.Extensivegeophysicalandgeologicworkwasconductedoverseveralfieldseasonsfrom2008.Theworkincludedprospecting,rockandsoil sampling,andagroundmagneticsurvey.Allgeochemicalanalyticalworkwasconductedbyinternationallyaccreditedlabs,SGSLaboratoriesand/orHumacLaboratoriesinMwanza,Tanzania.
Theexplorationalsoincludedafixed-wingaeromagneticandradiometricsurvey.ThesurveyandinterpretationwasconductedaccordingtointernationallyacceptedstandardsbytheCouncilforGeoscience,SouthAfrica.TheTechnicalReportidentifiedandselectedatotalof12prioritygoldtargetswhicharerecommendedforfollowupwork.
“ThescaleofworkcoveredbytheTechnicalReporthassignificantlyadvancedDouglasLake’sHandeniProject,”HarpSangha,ChiefExecutiveOfficercomments,“Wenowhaveanumberofveryexcitinggoldtargetswhichweareapriorityforustofollowupwithfurtherexplorationin2011.”
Forfurtherinformation pleasecontact:Douglas Lake Minerals, Inc.
SamSangha—InvestorRelationsinfo@douglaslakeminerals.com
+1-604-642-6165
Harp Sangha CEO/Director harpsangha@shaw.ca
+1-604-642-6164 office
+1-604-825-1309mobile
About Douglas Lake
TheCompanyisanemergingmineralexplorationcompanyfocusedonexploringanddevelopingmining opportunities in Tanzania.For more information, go to www.douglaslakeminerals.com.
Safe HarbourStatements
Exceptforthestatementsofhistoricalfactcontainedherein,theinformationpresentedinthisnewsreleaseconstitutes“forward-lookingstatements”assuchtermisusedinapplicableUnitedStatesandCanadianlaws.Thesestatementsrelatetoanalysesand otherinformationthatare based onforecastsoffutureresults,estimatesofamountsnotyetdeterminableandassumptionsofmanagement.Anystatementsthatexpressorinvolvediscussionswithrespecttopredictions,expectations,beliefs,plans,projections,objectives,assumptionsorfutureeventsorperformance(often,butnotalways,usingwordsorphrasessuchas“expects”or“doesnotexpect”,“isexpected”,“anticipates”or“doesnotanticipate”,“plans,“estimates”or“intends”,orstatingthatcertainactions,eventsorresults“may”,“could”,“would”,“might”or“will”betaken,occurorbeachieved)arenotstatementsofhistoricalfactandshouldbeviewedas“forward-lookingstatements”.Suchforwardlookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactorswhichmaycausetheactualresults,performanceorachievementsoftheCompanytobemateriallydifferentfromanyfutureresults,performanceorachievementsexpressedorimpliedbysuchforward-lookingstatements.Suchrisksandotherfactorsinclude,amongothers,theactualresultsofexplorationactivities,theavailabilityofcapitaltofundprogramsandtheresultingdilutioncausedbytheraisingofcapitalthroughthesaleofshares,accidents,labourdisputesandotherrisksoftheminingindustryincluding,withoutlimitation,thoseassociatedwiththeenvironment,delaysinobtaininggovernmentalapprovals,permitsorfinancingorinthecompletionofdevelopmentorconstructionactivities,titledisputesorclaimslimitationsoninsurancecoverage.AlthoughtheCompanyhasattemptedtoidentifyimportantfactorsthatcouldcauseactualactions,eventsorresultstodiffermateriallyfromthosedescribedinforward-lookingstatements,theremaybeotherfactorsthatcauseactions,eventsorresultsnottobeasanticipated,estimatedorintended.Therecanbe noassurancethatsuchstatementswillprovetobeaccurateasactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipatedinsuchstatements.Accordingly,readersshouldnotplaceunduerelianceonforward-lookingstatementscontained inthis news release and in anydocument referred toin thisnews release.
Forwardlookingstatementsaremadebasedonmanagement’sbeliefs,estimatesandopinionsonthedatethestatementsaremadeandtheCompanyundertakesnoobligationtoupdateforward-lookingstatementsifthesebeliefs,estimatesandopinionsorothercircumstancesshouldchange,exceptasrequiredbyapplicablelaw.Suchforward-lookingstatementsreflectourcurrentviewswithrespecttofutureeventsandaresubjecttocertainrisks,uncertaintiesandassumptions,including,therisksanduncertaintiesoutlinedinourmostrecentfinancialstatementsandreports and registration statement filedwiththe United States Securities and Exchange Commission (the “SEC”)(availableatwww.sec.gov)andwithCanadiansecuritiesadministrators(availableatwww.sedar.com).Suchrisksanduncertaintiesmayinclude,butarenotlimitedto,therisksanduncertaintiessetforthintheCompany’sfilingswiththeSEC,suchastheabilitytoobtainadditionalfinancing,theeffectofeconomicandbusinessconditions,theabilitytoattractandretainskilledpersonnelandfactorsoutsidethecontroloftheCompany.Theseforward-lookingstatementsaremadeasofthedateofthisnewsrelease,andtheCompanyassumesnoobligationtoupdatetheforward-lookingstatementsortoupdatethereasonswhyactualresultscoulddifferfromthoseprojectedintheforward-lookingstatements,exceptasrequiredbyapplicablelaw.AlthoughtheCompanybelievesthatthebeliefs,
plans,expectationsandintentionscontainedinthisnewsreleasearereasonable,therecanbenoassurancethosebeliefs,plans,expectationsorintentionswillprovetobeaccurate.InvestorsshouldconsideralloftheinformationsetforthhereinandshouldalsorefertotheriskfactorsdisclosedintheCompany’speriodicreportsfiledfromtime-to-timewiththeSEC.ThisnewsreleaseshallnotconstituteanoffertosellorthesolicitationofanoffertobuysecuritiesoftheCompanynorshalltherebeanysaleofthesesecuritiesinanyjurisdictioninwhichsuchoffer,solicitationorsalewouldbeunlawfulpriortoregistrationorqualificationunderthesecuritieslawsofanysuchjurisdiction.