Lake Shore Gold Corp.
TSX : LSG

Lake Shore Gold Corp.

October 15, 2007 17:00 ET

Lake Shore Reports Positive Gold Grain Results, Canopener Property, Northwestern Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") has received positive gold grain data, including a significant number of pristine gold grains, from an overburden sampling program at the Canopener property in northwestern Ontario. The recovery of pristine gold grains implies that these grains have not moved very far in overburden soil cover and suggests a local bedrock source for the gold.

Lake Shore President and CEO Brian Booth states: "We are very encouraged by the number of gold grains associated with this large dispersal apron. To recover this number of total gold grains, specifically the pristine gold grains, is extremely rare. The data strongly suggests that the northern margin of the Canopener Shear Zone, as presently defined, is the source host for these gold grains. We believe the property potentially hosts significant gold mineralization."

Canopener is a 50/50 joint venture project between Lake Shore and Superior Diamonds Inc. The joint venture was formed in 2006 and each company contributed claims. Superior is the operator of the joint venture. The property consists of 48 claims totalling 9,072 hectares. Nine claims are subject to an underlying 1.5% net smelter royalty payable to a third party, to a maximum of $2.5 million.

The recovered gold grains define a dispersal apron approximately two kilometres long from a fertile source with a strike length of at least six kilometres. The average number of gold grains identified in 98 overburden samples was 135, up to a maximum of 478. Analyzing overburden samples for the presence of gold grains is a common exploration procedure in overburden covered terrains. The gold grain values obtained on the Canopener property exceed or equal those from significant gold deposits discovered elsewhere on the Canadian Shield (see table).



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DISPERSAL GOLD
(grains per kilogram)
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CANOPENER 10.02
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DISPERSAL GOLD
NAME OF DEPOSIT (grains per kilogram)
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Casa Berardi Gold Mines, Quebec 2 to 3
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Kiena Gold Mine, Quebec 3
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17 Zone, Rainy River gold deposit, Ontario 10
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Donald Boucher, P.Geo. and Vice President Exploration, is Superior's Qualified Person for the Canopener property and has prepared or supervised the preparation of the technical and scientific information contained in this news release.

About Lake Shore

Lake Shore is a mineral exploration company engaged in the acquisition and exploration of mineral properties with prospects for hosting gold and base metal deposits. The Company is currently active in Canada and holds a number of mineral properties, either directly or through option agreements, in Ontario and Quebec. 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 statement.

Contact Information

  • Lake Shore Gold Corp.
    Meghan Brown
    Manager, Investor Relations
    (604) 685-4644
    (604) 688-5175 (FAX)
    Email: mbrown@lsgold.com
    or
    Lake Shore Gold Corp.
    Brian R. Booth
    President and CEO
    (705) 525-0992
    (705) 525-7701 (FAX)
    Email: info@lsgold.com
    Website: www.lsgold.com