SURREY, BC--(Marketwire - Apr 20, 2011) -
Douglas Lake Minerals Inc. /
10,000 METER DRILLING CONTRACT SIGNED BY DOUGLAS LAKE FOR HANDENI
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The issuer is solely responsible for the content of this announcement.
Vancouver, British Columbia, April 20, 2011 -- Douglas Lake Minerals Inc.
(the
"Company" or "Douglas Lake") (OTCBB: DLKM) is pleased to announce that is
has
signed a 10,000 meter drill contract with Layne Drilling Ltd. of Mwanza,
Tanzania to carry out a diamond core drill program at its Handeni Project
in
Tanzania. Layne has extensive experience drilling at various sites
throughout
Tanzania enabling it to develop an excellent understanding of the region's
ground and climatic conditions.
Drilling will focus on at least three of the twelve mineralization targets
within the 800 square kilometer license area. Currently, drilling is
planned
for the high priority Magambazi zones, the Kwandege gold target, and the
large
Masala NW-SE structure. Two drill rigs are expected to begin drilling in
June
following a number of geophysical and geochemical surveys and site
preparation.
It is expected that drill holes will vary in depth from 100 to 300 meters.
Douglas Lakes' 100%-owned Handeni property is strategically located
adjacent to
Canaco Resources Inc.'s Magambazi gold find in Tanzania.
"We are very pleased to complete this contract with Layne," comments Harp
Sangha, CEO of Douglas Lake. "We anticipate this to be one of Douglas
Lakes'
most exciting years as we will be executing our own drill program on
targets we
have identified as highly prospective. We have expanded our geologic team
and
are currently fast tracking several of these targets to drill readiness."
Qualified Person and Quality Control
Craig Alford, P.Geo., Douglas Lake's Vice President of Exploration serves
as a
Qualified Person under the definition of National Instrument 43-101.
Quality
assurance and quality control procedures will include the systematic
insertion
of blanks, standards, and duplicates into the sample stream.
About Douglas Lake
The Company is an emerging mineral exploration company focused on exploring
and
developing mining opportunities in Tanzania. For more information, go
to www.douglaslakeminerals.com.
Safe Harbour 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 www.sec.gov)
and
with Canadian securities administrators (available at 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.
--- End of Message ---
Douglas Lake Minerals Inc.
Unit 222 6820-188th Street Surrey, B.C. Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
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originality of the information contained therein.
Source: Douglas Lake Minerals Inc. via Thomson Reuters ONE
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