Lakota Announces Non-Brokered Private Placement and Amendment to Proposed Name Change

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2011) - LAKOTA RESOURCES INC. (the "Company" or "Lakota") is pleased to announce an offering of up to 66,700,000 units ("Units") at a price of $0.03 per Unit with each Unit comprising one common share and one half of one common share purchase warrant (a "Warrant"). One full Warrant will entitle the holder to purchase one additional common share at a price of $0.045 per share for a period of 2 years from the closing of the Offering.

Upon closing of the Offering, Lakota will pay certain arm's length parties a finder's fee equal to 7 Units and 7 Warrants for every 100 Units placed by a finder, provided that no finder's fee shall be payable in respect of any amount subscribed for by the directors, officers or insiders of the Company and or in respect of subscribers introduced to the Offering by officers, directors employees of the Company.

The common shares to be issued pursuant to the private placement will be subject to a four month hold period from the date of issuance. The proceeds from the private placement will be used to implement the work program on its Tanzanian properties as contemplated by the Company's geological report, a copy of which is available at www.sedar.com, as well as for general corporate purpose.

As outlined in Lakota's press release dated July 28^th 2011, the Company proposed to change its name to 'Valiant Gold Corporation', or such other name as the directors determined. Due to a possible name conflict with Valiant Gold Corporation, the directors have determined to change the name to 'Tembo Gold Corp.'

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.