Lakeside Minerals Inc.

Lakeside Minerals Inc.

March 25, 2013 16:43 ET

Lakeside Minerals Inc. Announces Shares for Debt Agreements

TORONTO, ONTARIO--(Marketwire - March 25, 2013) - Lakeside Minerals Inc. (TSX VENTURE:LAK) (the "Company") is pleased to announce that is has entered into shares for debt agreements totalling $333,639.35 with arm's length and non-arm's length parties. The Company also announces a change to its Board.

A total of 5,865,734 units ("Units"), for gross proceeds of $293,286.70 were issued to unrelated parties for settlement of debt, and 807,053 common shares ("Shares") for gross proceeds of $40,352.65 were issued to insiders and related parties for outstanding fees. The issuance of the Units and Shares will not result in a change of control of the Company, will be subject to a four-month hold period from the date of settlement, and will be subject to the approval of the TSX Venture Exchange.

Each Unit, priced at $0.05, consists of one (1) Share and one (1) Share purchase warrant ("Warrant"). Each full Warrant entitles the holder to acquire one common share of the Company at a price of $0.10 per share for a period of sixty (60) months from the closing date. The term of the Warrant is subject to an acceleration right at the option of the Company, provided that the common shares of the Company trade at or above $0.40 for a full 20 consecutive trading days and the Company has provided Warrant holders with 30 days prior written notice of the accelerated Warrant exercise date.

The 807,053 Shares issued to insiders and related parties were for settlements of outstanding fees to the following: $20,352.65 to the Company CEO, $12,500 to Foundation Opportunities Inc., and $7,500 to Cavalry Corporate Solutions. No Warrants were issued pursuant to settlements by insiders and related parties.

Board Change

Scott Jobin-Bevans stepped down from the Company Board effective March 25th, 2013 to pursue business opportunities overseas. The Company thanks Mr. Jobin-Bevans for his dedicated services.

About Lakeside Minerals Inc.

Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing mineral properties in Quebec. The Company's Launay property is a major consolidated land package, 227 mineral claims covering 102.5 sq km, located in the heart of the Abitibi, 48 km northeast of Rouyn-Noranda.

The Launay property straddles nearly 22 km of the Macamic deformation zone: a major deformation zone in the Abitibi subprovince located north of the Porcupine-Destor deformation zone. Claims cover a 17 km long trend of known gold occurrences, several of which display significant historical gold drill intersections. The property claims also cover a broad 6 km trend of gold in soil anomalies never tested by drilling.

The Launay property land package allows the Company to focus on an extensive trend of known gold occurrences associated with a major deformation zone in the heart of the Abitibi subprovince. Large portions of the Macamic deformation zone, subsidiary faults, and splays remain to be fully explored. The Launay property displays excellent potential for discovery.

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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