Lake Shore Gold Corp.
TSX : LSG

Lake Shore Gold Corp.

September 05, 2007 17:00 ET

Lake Shore Reports Additional High-Grade Gold Intersection at Thunder Creek, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") has intersected additional new high-grade gold mineralization in hole TC07-30 on the Thunder Creek property near Timmins, Ontario. The Thunder Creek property and new gold zone are immediately adjacent to Lake Shore's 100%-owned Timmins West property, where a positive pre-feasibility study was recently completed (see news release dated August 28, 2007). The character of the mineralization in the new gold zone is similar to the Ultramafic zone that hosts the majority of the gold mineralization at Timmins West and opens up a whole new target for expansion of the Company's Timmins West resource base.

As reported on August 1, 2007, drilling at Thunder Creek intersected three zones of high-grade gold mineralization in hole TC07-30. A fourth mineralized zone has now been discovered in the same hole. This zone, identified as the Lower Rusk zone, was not initially recognized as being gold bearing based on visual logging. Upon review it was sampled, and assay results have now confirmed a grade of 9.77 grams per tonne gold over 3.95 metres, including 12.01 grams per tonne gold over 3.10 metres.

Lake Shore President and CEO Brian Booth said: "These new gold zones at Thunder Creek have been expanded over a 31-metre wide core length within a variably altered zone of ultramafic, sediments and various syenitic dykes. The intersection of additional mineralization is very positive and the potential of this discovery is highly prospective, as all the zones remain open along strike and above and below the discovery intercepts. These collective intersections further confirm the potential of the Thunder Creek property to host high-grade gold mineralization with significant upside. The new intersections are located approximately 865 metres southwest of the Timmins West shaft currently being developed as part of our advanced underground exploration program. If the new zones are of sufficient size, they could significantly impact the Company in the short term as we may be able to access them from the Timmins West shaft." He added that the Company has recently increased the number of drills to two in order to further define the true widths and geometry of the mineralization.

The Thunder Creek property represents a primary gold exploration target consisting of 54 claim units where Lake Shore is earning a 60% interest pursuant to an option agreement with West Timmins Mining Inc. by spending $1.7 million over a five-year period ending in November 2008. Approximately $1 million in expenditures has been incurred to date.



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Gold
Length (grams
From To (i) per
Hole (metres) (metres) (metres) tonne) Zone Status
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TC-07-30
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384.80 388.45 3.65 10.91 Rusk Ultramafic Previously
Zone released
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including 385.80 388.45 2.65 14.68
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397.20 398.40 1.20 5.43 Rusk Ultramafic Previously
Zone released
---------------------------------------------------------------------------

---------------------------------------------------------------------------
408.50 409.00 0.50 27.60 Rusk Previously
Zone released
---------------------------------------------------------------------------
412.55 416.50 3.95 9.77 New Lower New
Rusk Zone intersection
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including 413.40 416.50 3.10 12.01
---------------------------------------------------------------------------

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TC-07-31 Undercut to TC- In progress
07-30
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TC-07-32 East Bracket to In progress
TC-07-30
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(i) True widths are not known at this time.


Prior to the drilling of hole TC07-30, four other exploration drill holes targeting the Ultramafic and Rusk zones further to the northeast and at shallow depth (200m below surface) had intersected significant alteration and deformation, returning many anomalous gold values up to 1.69 grams per tonne gold. A location map and composite longitudinal section for the area will be available shortly on the Company's website at www.lsgold.com.

Quality Control

Lake Shore Gold has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. Assays have been completed using a standard fire assay with a 50-gram aliquot. For samples that return a value greater than three grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Zones with visible gold were tested by pulp metallic analysis. NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags for preparation at ALS Chemex Prep Lab located in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay Laboratory in Vancouver, B.C. ALS Chemex is an ISO 9001-2000 registered laboratory preparing for ISO 17025 certification.

The Company's Qualified Person ("QP") for the Thunder Creek Property is Jacques Samson, P.Geo. As QP he has prepared or supervised the preparation of the scientific or technical information for the property and has reviewed and approved the technical disclosure contained herein.

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 properties, either directly or through option agreements, in Ontario and Quebec. 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.

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 and CEO
    (705) 525-0992
    (705) 525-7701 (FAX)
    Email: info@lsgold.com
    Website: www.lsgold.com