December 08, 2006 08:00 ET

Lakota Engages Investor Relations Firm and Appoints Randy Koroll as Director and Stanley Robinson as Acting Chairman

Investor Relations Firm

TORONTO, ONTARIO--(CCNMatthews - Dec. 8, 2006) - Lakota Resources Inc. (TSX VENTURE:LAK) (the "Company") is pleased to announce that it has entered into an Investor Relations Service Agreement (the "Agreement") with Vantage Communications Ltd. ("Vantage") effective December 7, 2006 pursuant to which the Company will engage Vantage to provide certain investor relations services for an initial period of four months.

Pursuant to the Agreement, Vantage will receive a monthly fee of $6,000.00 for the first three months and $250 for the fourth month. The Company will also reimburse Vantage for any reasonable expenses incurred by them in providing the services. In addition to the foregoing cash compensation Vantage will also receive 150,000 stock options. The options will vest as to 25% on the four month anniversary of their issuance and as to 25% on each four month anniversary thereafter and will expire on the earlier of (i) the fifth anniversary of their issuance or (ii) the date on which Vantage ceases to provide services to the Company. The exercise price of the options will be $0.25 per share. Other than these options and the provision of services pursuant to the Agreement, Vantage has no direct or indirect interest in the Company or its securities or any right to acquire an interest in the Company.

Vantage is based in Vancouver, British Columbia and was incorporated in May 2006 with the intent of providing clients with innovative investor relations strategies, including telephone, e-mail and website information dissemination. Vantage aims to enhance the flow of information to current shareholders and potential new shareholders while increasing market awareness throughout the investment community.

Vantage's services include a phone centre operated by Vantage employees whereby Vantage contacts shareholders and potential new investors that have expressed interest in the related industry of the Company via the Vantage website at Vantage will also provide a web marketing campaign through its website and will provide promotional material design services and assist with trade shows and broker presentations. The principals of Vantage have over 15 years of combined experience in the investor relations industry through in-house invest relations experience and experience at other investor relations firms.

Director and Chairman Appointment

The board has increased its size to six directors and has appointed Randy Koroll to the board. Mr. Koroll has been serving the Company as its Chief Financial Officer since July 2006 (see Press Release dated July 19, 2006). In connection with his appointment, Mr. Koroll was awarded 18,000 stock options with an exercise price of $0.25. These options will expire on the fifth anniversary of their issuance.

In addition, Stanley Robinson, the Company's President and a current director has been appointed as the interim Chairman of the Company to serve in place of Mr. Breuler, who resigned as Chairman effective December 6, 2006 (See Press Release dated December 6, 2006).

Outstanding Shares: 44,298,523

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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