Lake Shore Gold Corp.

Lake Shore Gold Corp.

January 16, 2008 13:00 ET

Lake Shore Gold Announces the Appointment of Anthony Makuch as President and Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Jan. 16, 2008) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") is pleased to announce the appointment of Anthony P. Makuch, effective March 1, 2008, as President and Chief Executive Officer. Mr. Makuch will continue his position as a Director of the Company.

Mr. Makuch is currently employed by FNX Mining Company Inc. as Senior Vice President and Chief Operating Officer. Mr. Makuch is a Professional Engineer with over 25 years of gold and base metal mine management and operational experience and has successfully taken advanced exploration projects through to production. He holds a Bachelor of Science Degree from the University of Waterloo, a Master of Science Degree in Mining Engineering from Queens University and a Master of Business Administration from Queens University. At FNX, Mr. Makuch was a key player in the team that transformed FNX from an exploration company to a multi billion dollar mid-tier base metal producer. Prior to joining FNX, Mr. Makuch was with Dynatec Corporation from 1998 to 2005 where he rose to the position of Vice President, Operations. While at Dynatec he acted as operations manager for the Midas Joint Venture - Ken Snyder Mine in Nevada where he successfully started the mine and then increased production from 500 to 1,150 tons per day. He also was responsible for the development and start-up of the Goldcorp Red Lake Mine. From 1995 to 1998 he was General Manager for Kinross Gold Corporation for their Timmins and Kirkland Lake gold mine operations where he was able to achieve significant improvements in workplace safety, reductions in the cash operating costs and other efficiencies. Prior to joining Kinross he worked at increasing levels of responsibility with Lac Minerals in Kirkland Lake, with Placer Dome's Campbell Mine in Red Lake, and at the Kidd Creek Mine in Timmins. Mr. Makuch has been the recipient of numerous safety awards throughout his distinguished career.

Mr. Makuch said, "Lake Shore has a strong core of people and an exceptional suite of assets, in a proven mining camp, that are now being advanced towards production. I have had the pleasure of acting as a Director with Lake Shore this past year and I am excited about the opportunity to lead this company from solely an exploration company to a significant gold producer, while still maintaining a very active exploration program. Being from Timmins, I am very familiar with the gold ore deposits, I know the people and I know the mines, and developing Canada's next set of gold mines in this historic gold mining camp will be rewarding to the community and to all Lake Shore stakeholders. When we combine this with the exploration capabilities of the people, a strong and motivated Board of Directors, and the large suite of very good exploration properties, the future growth for Lake Shore Gold is very exciting."

"Tony Makuch has an exceptional fit with the requirements for a CEO of Lake Shore as we embark on our transition to be a significant gold producer. The Company could not be in better hands," commented Alan Moon, Chairman of the Board of Directors.

Mr. Moon also reiterated his thanks to Brian Booth for the value he has added to the Company. As previously reported Brian Booth, the current President and CEO, will resign effective March 1, 2008 but will continue to add value, particularly to the Company's exploration efforts, as he will stay on as a Director. Mr. Booth will be available to Mr. Makuch to ensure a smooth transition.

About Lake Shore

Lake Shore is a mineral exploration company focused on the acquisition, exploration and development of mineral properties with prospects for hosting economic gold deposits in the Canadian Shield in Ontario and Quebec. The Company holds a number of 100% owned and joint ventured gold properties in Ontario and Quebec, acquired the Bell Creek Mine and Mill Complex and has commenced sinking a shaft on its 100%-owned Timmins West gold deposit near Timmins, Ontario. Lake Shore is a reporting issuer in British Columbia, Alberta, Manitoba, Ontario and Quebec, and trades on the Toronto Stock Exchange under the symbol LSG.

Forward-looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. 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 statements.

Contact Information

  • Lake Shore Gold Corp.
    Meghan Brown
    Manager Investor Relations
    (604) 685-4644 or (778) 899-1605
    Lake Shore Gold Corp.
    Brian R. Booth
    President and CEO
    (416) 703-6298
    (416) 703-7764 (FAX)