Lake Shore Gold Corp.
TSX : LSG

Lake Shore Gold Corp.

July 17, 2007 08:00 ET

Lake Shore Gold Commences Drilling at Blakelock and Expands Its Property Position to the West

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") announced today that it has commenced a 3000 meter diamond drilling program on its 100% owned Blakelock Gold Property, located approximately 100 kilometres north of the town of Cochrane, Ontario. The drilling will be both land and helicopter supported as required.

"We are very excited with this next diamond drill test of targets identified from our proprietary data base and the progress that we have made to date," said Brian Booth, President of Lake Shore.

Drilling is targeting the interpreted extension of the "Casa Berardi Fault Zone" through the western portion of the Blakelock Property to follow up on the discovery of delicate gold grains in the winter reverse circulation drill program, as reported in the June 7th, 2007 press release and an earlier first phase diamond drill program that intersected gold mineralization in a number of geological settings at the Porphyry Creek gold zone (see press releases dated August 15, 2006 and February 8, 2007). Lake Shore also completed a detailed airborne geophysical survey in 2007 covering the entire Property and defined a number of other targets that will be tested in the current drill program.

The extension of the Casa Berardi Fault Zone west of the Blakelock Property, has been a focus of the Company's work with its extensive Abitibi proprietary data base. The Company completed an airborne magnetic survey over this same area to help define the Casa Berardi structure and as a result, a large land package in two properties along this extension over a strike length of more than 25 kilometres has been acquired and identified as the McQuibban Property (740 hectares) and the Little Abitibi Project (4,500 hectares).

Following the completion of the Blakelock drill program additional helicopter supported reconnaissance drilling on the McQuibban and Little Abitibi projects will be completed. The reinterpretation of this area has identified new greenstone terrane and structural settings favorable for both gold and base metal mineralization and will take on new focus with each advance in exploration.

About Lake Shore

Lake Shore is a mineral exploration company engaged in the acquisition and exploration of mineral properties with prospects for hosting gold and base metal deposits. The Company is currently active in Canada and holds a number of mineral resource properties, either directly or through option agreements, in Ontario and Quebec. In February 2007 Lake Shore announced its agreement to acquire the Bell Creek mine and mill complex near Timmins, Ontario from the Porcupine Joint Venture(1). 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.

Lake Shore's Qualified Person ("QP") for the Blakelock Property is David Beilhartz, P.Geo., the Company's Vice President Exploration. As the QP, he has prepared or supervised the preparation of the scientific or technical information for the Property.

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.

(1) For details refer to Lake Shore's press release dated February 2, 2007, available on the company's website at www.lsgold.com.

Contact Information

  • Lake Shore Gold Corp.
    Meghan Brown
    Manager Investor Relations
    (604) 669-3533
    (604) 688-5175 (FAX)
    Email: mbrown@lsgold.com
    or
    Lake Shore Gold Corp.
    Brian R. Booth
    President
    (705) 525-0992
    (705) 525-7701 (FAX)
    Email: info@lsgold.com
    Website: www.lsgold.com