Lake Shore Gold Corp.
TSX : LSG

Lake Shore Gold Corp.

March 17, 2008 19:01 ET

Lake Shore Gold Announces Annual Meeting and Revised Date for Special Meeting

TORONTO, ONTARIO--(Marketwire - March 17, 2008) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") announces that the Company will hold an Annual and Special Meeting of shareholders on May 15, 2008. The special shareholders' meeting formerly scheduled for April 22, 2008 will be rescheduled and combined into the Annual and Special Meeting on May 15th, to be held at 4:30pm at The National Club, 303 Bay Street, Toronto, in the Blake Lounge. All shareholders of record on March 18, 2008 will be entitled to receive notice of and to vote at the Annual and Special Meeting.

The special shareholders' meeting followed Lake Shore's announcement on February 29, 2008, that the Company had entered into a strategic alliance with Hochschild Mining plc ("Hochschild"). As part of the strategic alliance, Lake Shore completed a private placement to Hochschild of 28.2 million common shares at $2.30 per share for a total consideration of $64.7 million (see the Company's news release dated February 25, 2008, available at www.lsgold.com). The private placement resulted in Hochschild holding 19.99% of Lake Shore's issued and outstanding shares. As part of the strategic alliance, Lake Shore will seek shareholder approval for an additional financing that will allow Hochschild to increase its holdings to 35%, and the termination of the Company's shareholder rights plan to allow Hochschild to acquire additional shares in the market up to 40% of the Company's issued and outstanding shares on a fully diluted basis (pursuant to the Strategic Alliance Agreement Hochschild is not permitted to go above that level for 5 years). With Hochschild's agreement, the revised meeting date for the shareholder vote will allow Lake Shore additional time to communicate with shareholders regarding the matters to be voted on at the Annual and Special Meeting.

A copy of Lake Shore's Strategic Alliance Agreement with Hochschild is available on the SEDAR website at www.sedar.com.

About Lake Shore

Lake Shore is a mineral exploration company focused on the acquisition, exploration and development of mineral properties with prospects for hosting economic gold deposits in the Canadian Shield in Ontario and Quebec. The Company holds a number of 100% owned and joint ventured gold properties in Ontario and Quebec, including the Bell Creek Mine and Mill Complex and has commenced sinking a shaft on its 100%-owned Timmins West gold deposit near Timmins, Ontario. 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 statements.

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