God's Lake Resources Inc.

God's Lake Resources Inc.

March 29, 2012 15:17 ET

God's Lake Resources Inc. Enters Into an Agreement With the Province of Ontario to Surrender Its Claims and Leases for $3,500,000

TORONTO, ONTARIO--(Marketwire - March 29, 2012) - God's Lake Resources Inc. (CNSX:GLR) ("the Company") is pleased to announce that it has entered into an agreement with the Province of Ontario to surrender its entire claim and lease land holdings, namely the "Sherman Lake Gold Project," for $3,500,000.

As a result of this sale, the Company does not own any mineral exploration interests at this time. The Company will continue to pursue mineral exploration in Ontario and will focus on identifying and acquiring new mineral properties as they are presented.

God's Lake Resources is a junior gold exploration company and is publicly traded on the Canadian National Stock Exchange under the symbol GLR.

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, the ability to identify properties of merit and acquire such properties on commercially reasonable terms, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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Warning No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The Canadian National Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

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