Douglas Lake Minerals Inc.
OTC Bulletin Board : DLKM

Douglas Lake Minerals Inc.

May 04, 2011 13:35 ET

Director of Douglas Lake Receives Distinguished Appointment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2011) - Douglas Lake Minerals Inc. (the "Company" or "Douglas Lake") (OTCBB:DLKM) is pleased to announce that Dr. Douglas Boateng, a Director of the Company, has been appointed Chairman of UK Chartered Institute of Purchasing and Supply's (CIPS's) Adjudication Panel of experts. CIPS is the largest professional body in the world primarily focused on best practice industrial procurement and supply chain governance.

"In exploration, over 75% of funds raised are directly used in procuring various exploration related technical and engineering services. We hope to tap into Dr. Boatengs' expertise to further improve, amongst others, our supply chain governance and purchasing practices," Harp Sangha, CEO of Douglas Lake remarked.

Under his leadership, the team of independent and eminent academics and practitioners shall be adjudicating on best practice procurement and supply chain management within leading companies operating on the continent. The practicing professionals are responsible for billions of USD dollar equivalent procurement and value chain expenditure within local and multinational companies. Companies that continue to participate in this highly competitive award are from various sectors including, but not limited to, Mining, R&D and Exploration, Petrochemicals, Finance and Banking, Services, Agriculture, and Heavy Engineering.

Over the past seven years Dr. Boateng has played a pivotal role, specifically with respect to strategy and governance, within IPP Resources (www.ippresources.com) and its' wholly owned subsidiary IPP Gold (www.ippgold.com), the company with whom Douglas Lake acquired its 800 square kilometer Handeni property. Today, both IPP Resources and IPP Gold are among the largest privately owned diversified exploration, gemstone mining, gold and other base metals property holdings companies in the East African sub region.

"The Exploration and Mining sectors are among the top 5 fastest growing industries in Africa. I am optimistic that CIPS' innovative ways to strengthen world class practices on the continent will help institutionalize must needed value chain governance and productivity improvements. This will undoubtedly protect both local and international shareholders from uncontrolled and sometimes reckless use of organizational resources," commented Dr. Boateng.

Dr. Boateng is currently the President of the Institute of Operations Management Africa. He is an elected Fellow of UK's Institute of Directors. In addition, he is an elected Fellow of:

  • Chartered Institute of Purchasing and Supply
  • Institute of Directors-Southern Africa,
  • Chartered Management Institute –UK,
  • Chartered Institute of Logistics and Transport-UK and South Africa,
  • Institute of Operations Management-UK, and
  • The Institute of Consulting-UK.

The full article of his appointment can be found at http://www.cips.org/en-za/aboutcips/News/Dr-Douglas-Boateng-appointed-Chairman-of-CIPSs-Adjudication-Panel-of-experts/

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.

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