Lake Shore Gold Corp.

Lake Shore Gold Corp.

March 13, 2009 08:05 ET

Lake Shore Gold Announces Appointment of Ignacio Bustamante to Board of Directors

TORONTO, ONTARIO--(Marketwire - March 13, 2009) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore Gold" or "the Company") is pleased to announce the appointment of Ignacio Bustamante to the Company's Board of Directors.

Mr. Bustamante is Chief Operating Officer of Hochschild Mining plc ("Hochschild"). He has worked for Hochschild and its affiliated companies since 1992. Prior to his current role, he served as the company's General Manager of Peruvian operations. Between 1998 and 2003, Mr. Bustamante worked as Chief Financial Officer of Cementos Pacasmayo. Subsequently, he worked for Zemex Corporation, a subsidiary of Cementos Pacasmayo, based in Atlanta, Georgia, serving first as Chief Financial Officer and Vice President of Business Development and later as its President. Mr. Bustamante holds a BSc in Business and a BSc in Accounting from Universidad del Pacifico in Peru and an MBA from Stanford University.

Alan Moon, Chairman of Lake Shore Gold, commented: "Ignacio brings to the Board of Lake Shore Gold extensive and wide-ranging industry experience. In addition to his operating background, he has worked directly in such areas as health and safety, environment, community relations, business development, finance, information technology and cost and financial accounting. I would like to welcome Ignacio to the Board and look forward to his future contribution to the Company as we move forward with Lake Shore Gold's transition to an emerging gold producer."

About Lake Shore Gold

Lake Shore Gold Corp. is a mineral development and exploration company that is moving towards gold production through its 100%-owned Timmins Mine project, where the Company is sinking a shaft and driving a ramp to access shallow mineralization. The Timmins Mine project is located 18 kilometers west of Timmins, one of the world's most productive mining camps having produced approximately 75 million ounces of gold over the last century. The wholly owned Bell Creek Mill, located just east of Timmins, has been refurbished to a capacity of 800 tonnes per day, and the Company is moving forward with a number of prospective exploration properties in the Timmins area and in other parts of Northern Ontario and Quebec. Lake Shore Gold's common shares trade on the Toronto Stock Exchange under the symbol LSG.

Forward-looking Statements

Certain statements in this press release relating to the Company's development projects, exploration properties, project expenditures, business plans, capital position and financial performance are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will not be less than identified mineral reserves.

The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. 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 the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Lake Shore Gold's most recent Annual Information Form and other regulatory filings which are posted on sedar at

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