Douglas Lake Minerals Inc.
OTC Bulletin Board : DLKM

Douglas Lake Minerals Inc.

September 27, 2011 17:00 ET

Douglas Lake Appoints Debra Farquharson, BBM, CA as Executive Vice President & CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Douglas Lake Minerals Inc. (the "Company" or "Douglas Lake") (OTCBB:DLKM) is pleased to announce the appointment of Debra Farquharson as Executive Vice President, Chief Financial Officer, Secretary and Treasurer.

Debra has over 25 years of multi-industry management experience for both public and privately-held enterprises. Her nine years in the resource sector includes mining and all aspects of oil and gas. Debra has worked for both Suncor and Dome Petroleum. She has been the CFO for several publicly traded companies listed on the TSX, TSX-V, and Nasdaq exchanges. Debra has also been an investor, director and acting corporate secretary of a company traded on the TSX-Venture Exchange.

As a key member of the leadership team in growth organizations with revenues ranging from $1 million to $6 billion, her responsibilities have included all aspects of corporate governance, finance and accounting, IT, HR, public and media relations, sales & marketing as well as operations.

A graduate of Ryerson University in Toronto, Ontario with a Bachelor of Business Management, Debra is also a Chartered Accountant with both the Ontario and BC Institute of Chartered Accountants.

"Debra brings the depth of experience Douglas Lake requires to advise the board and management on matters of corporate governance, treasury and regulatory reporting commitments. As an integral member of the executive team, Debra's role will be instrumental in contributing to the development of the Company's plans for strategic growth. She brings a wealth of expertise in raising equity and developing financing in both the public and private capital and institutional markets. We are pleased to have her join the executive team," commented Douglas Boateng, the Company's CEO.

Debra replaces Herm Rai, who has stepped down as Chief Financial Officer, Secretary and Treasurer. The Company thanks Herm for his contributions to the Company and is pleased to note that Herm will continue assisting the Company in a different capacity.

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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