Drift Lake Resources Inc.
TSX VENTURE : DLA

January 24, 2011 09:30 ET

Drift Lake Resources Inc. Releases Unaudited Results for the Three and Nine Months Ended November 30, 2010

TORONTO, ONTARIO--(Marketwire - Jan. 24, 2011) -

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Drift Lake Resources Inc. (TSX VENTURE:DLA)(the "Corporation") today announced its unaudited results for the three and nine months ended November 30, 2010.

Results for the three months ended November 30, 2010 as compared to the three months ended November 30, 2009:

  • For the three months ended November 30, 2010 revenues consisted of interest income of $4,616 as compared to revenues consisting of interest income of $647 for the three months ended November 30, 2009.

  • For the three months ended November 30, 2010 total expenses were $83,379 as compared to total expenses of $150,406 for the three months ended November 30, 2009.

  • For the three months ended November 30, 2010 the net loss was $78,763 ($0.003 per basic and diluted common share) as compared to a net loss of $149,759 ($0.008 per basic and diluted common share) for the three months ended November 30, 2009.

Results for the nine months ended November 30, 2010 as compared to the nine months ended November 30, 2009:

  • For the nine months ended November 30, 2010 revenues consisted of interest income of $9,837 as compared to revenues consisting of interest income of $2,148 for the nine months ended November 30, 2009.

  • For the nine months ended November 30, 2010 total expenses were $143,394 as compared to total expenses of $199,841 for the nine months ended November 30, 2009.

  • For the nine months ended November 30, 2010 the net loss was $133,557 ($0.005 per basic and diluted common share) as compared to a net loss of $197,693 ($0.014 per basic and diluted common share) for the nine months ended November 30, 2009.

About Drift Lake

Drift Lake Resources Inc. is a Toronto based mineral exploration company, currently focused on the exploration for gold on the Rossmere Property in the Thunder Bay Mining Division of Ontario. 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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