Lakeside Minerals Inc.

Lakeside Minerals Inc.

October 07, 2014 11:01 ET

Lakeside Provides Exploration Update

TORONTO, ONTARIO--(Marketwired - Oct. 7, 2014) - Lakeside Minerals Inc. (TSX VENTURE:LAK) (the "Company") is pleased to announce that it has commenced of a work program in the Freegold South area where historical humus and soil surveys indicate a greater than 5 km long and up to 1 km wide gold anomaly.

The Freegold South area, located approximately 9 km southeast of the Trojan zone, includes an area of historical diamond drilling with a possible undrilled southeast extension as indicated by anomalies from a 1995 humus survey and a 2007 B horizon survey. Historical drilling in the Freegold South area is limited to an approximately 300 m strike length which intersected intervals of gold mineralization including 2.67 g/t Au over 1.0 m and 3.36 g/t Au over 1.5 m in 2010. The 1995 humus survey outlined a greater than 5 km long southeast-trending anomaly in an area underlain by sheared massive to pillowed basalts and ultramafic flows with strong carbonatization, fuchsite alteration, and pyrite mineralization. The 2007 B horizon soil survey covered parts of the humus anomaly and also returned anomalous gold values. These anomalies have not been drill tested.

The first phase of the 2014 work program being carried out in the Freegold South area consists of overlapping humus and mobile metal ion ("MMI") soil sampling with the objective of validating the historical survey results and to gain a better understanding of a potential bedrock source. The work program also includes prospecting and mapping. The results of this work and the accompanying compilation of historical work will be used to assist in the selection of areas for stripping and channel sampling.

Yannis Banks, Lakeside's CEO, commented: "We are excited to be commencing work on this large anomaly which indicates the potential for a gold system of significant size. Our drill results from the Trojan block, to the northwest of the Freegold South anomaly, established the presence of a high grade gold system associated with the Macamic deformation zone, with intercepts including 29.00 g/t Au over 1.5 m and 10.31 g/t Au over 3.0 m including 17.90 g/t Au over 1.5 m, and also established the potential for wider low-grade zones, such as 1.23 g/t Au over 64.5 m (see press release dated January 15, 2013)."

Mr. Banks continued: "The objective of our current program is to gain an understanding of what is causing the Freegold South anomaly that has not yet been drill tested, and also to understand the relationship between this anomaly, the Trojan zone, and other areas of mineralization that have been historically documented along this trend that spans some 17 km, in a premier mining jurisdiction."

Thomas Hart, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the terms defined by National Instrument 43-101.

About Lakeside Minerals Inc.

Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing mineral properties. The Company's flagship Launay property is located in the heart of the Abitibi, 48 km northeast of Rouyn-Noranda. The Launay property straddles a significant extent of the Macamic deformation zone: a major deformation zone in the Abitibi subprovince located north of the Porcupine-Destor deformation zone. The property covers a 17 km long trend of known gold occurrences, several of which display significant historical and recent gold drill intersections. Lakeside is also pursuing potential acquisitions of interests in undervalued mineral exploration properties.

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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