LAKOTA RESOURCES INC.
TSX VENTURE : LAK

LAKOTA RESOURCES INC.

March 29, 2007 03:05 ET

Lakota Intersects 36.70 G/T Gold in RC Drilling on TEMBO

TORONTO, ONTARIO--(CCNMatthews - March 29, 2007) - Lakota Resources Inc (the "Company") (TSX VENTURE:LAK) is pleased to announce gold assay results from 29 of the 60 Reverse Circulation (RC) drill-holes completed to date on the Company's 100% owned TEMBO project in Tanzania. A fence of nine drill holes intersected 1.70 g/t Au over 6.0m, 36.70 g/t Au over 1.0m, 0.59 g/t Au over 1.0m, 0.81 g/t Au over 1.0m and 1.04 g/t Au over 1.0m. The RC drilling program was based on the gold results obtained in the soil/regolith and/or bedrock samples illustrated on Figure 1. Figure 2 presents an interpretation based on the geochemical sample sites that returned anomalous gold values in soil/regolith and/or bedrock.



Figure 1. Map of geochemical sample sites and sample sites with anomalous
gold values.

http://www.ccnmatthews.com/docs/Lakotamap1.pdf

Figure 2. Map illustrating interpretation of the anomalous gold values
obtained in geochemical samples.

http://www.ccnmatthews.com/docs/Lakotamap2.pdf


From the area illustrated in Figure 2 samples of soil/regolith have been collected from depths varying from immediately below the organic horizon to in excess of 10 metres where the sample was collected from the base of the transported soil/regolith profile. The sampling methods, dictated by the local topography and thickness of transported cover, included conventional soil sampling, shallow pits, deep pits and air core drilling. In the areas sampled by deep pits and aircore drilling (AC) a sample of the bedrock beneath the soil/regolith profile was also collected. Represented on Figure 2 are the gold values obtained for the collected samples as values below the anomalous threshold and values above the anomalous threshold for the soil/regolith population of samples and also for the bedrock population of samples. A summary of the statistical analysis for each population is presented in Table 1.



Table 1. Statistical analysis of the gold values in soil/regolith
and in bedrock samples.

--------------------------------------------------------------------------
Anomalous
Threshold
High- Number Mean + 2 x
Range of cut of Mean Standard
Sample No. of values Au Au samples Au Standard Deviation
type samples (ppb) (ppb) cut (ppb) Deviation Au (ppb)
--------------------------------------------------------------------------
less than
Soil/ (0.005) to
regolith 3,205 18,950 220 45 15.902 31.974 79.850
--------------------------------------------------------------------------
less than
(0.005) to
bedrock 1,876 16,400 175 27 10.583 26.633 63.850
--------------------------------------------------------------------------


The anomalous gold in soil/regolith and or bedrock sample sites have been interpreted as a series of northwest trending linear zones as well as a series of east northeast linear zones. Locally these interpreted linear zones are coincident with the alignment of artisanal pits following auriferous quartz veins. Illustrated on Figure 2 are the interpreted linear zones anomalous in gold.

The previously announced RC drilling program (see press release dated October 30, 2006) currently in progress commenced in late 2006. However, due to unseasonably high rainfall during November through January, the drilling program was temporarily suspended. Rock grab sampling of artisanal sites and infill soil/regolith and bedrock geochemical sampling by aircore drilling were carried out while the RC drilling was suspended. The RC drilling is exploring linear anomalous gold zones by either a single drill hole or by a fence of drill holes. The location of the drill-hole collars drilled to date is also presented on Figure 2.

A total of 4,018 metres of reverse circulation drilling in 60 holes have been completed since November 2006 and results have been received for 29 of these holes. RC drilling continues. Gold intersections greater than 0.15 g/t obtained to date are summarized in Table 2 and illustrated on Figure 3.



Table 2. Summary of gold intersections in RC drill-holes on TEMBO project.

HOLE From To Interval Gold
(m) (m) (m) (g/t)
RC030 71.00 74.00 3.00 1.05
RC032 16.00 17.00 1.00 0.54
RC035 5.00 6.00 1.00 0.53
RC036 9.00 11.00 2.00 2.95
includes 10.00 11.00 1.00 5.44
RC037 11.00 15.00 4.00 0.31
RC038 14.00 17.00 3.00 0.63
includes 14.00 15.00 1.00 1.23
RC039 14.00 17.00 3.00 0.56
includes 14.00 15.00 1.00 1.41
RC040 24.00 25.00 1.00 0.59
RC041 61.00 63.00 2.00 0.62
RC042 23.00 25.00 2.00 0.88
includes 23.00 24.00 1.00 1.51
46.00 50.00 4.00 0.76
includes 46.00 48.00 2.00 1.07
RC043 34.00 36.00 2.00 0.32
RC044 43.00 47.00 4.00 1.50
includes 44.00 46.00 2.00 2.66
RC045 23.00 27.00 4.00 0.20
68.00 71.00 3.00 0.28
RCO46 23.00 27.00 3.00 0.17
60.00 61.00 1.00 0.27
81.00 82.00 1.00 0.81
RC050 56.00 57.00 1.00 0.17
RC051 49.00 50.00 1.00 0.34
RC052 47.00 51.00 4.00 0.20
58.00 63.00 5.00 0.22
70.00 72.00 2.00 0.25
RC053 5.00 7.00 2.00 0.36
RC056 28.00 29.00 1.00 36.70
RC058 51.00 57.00 6.00 1.07
includes 52.00 55.00 3.00 1.84
and 53.00 55.00 2.00 2.31
RC059 40.00 42.00 2.00 0.68
includes 41.00 42.00 1.00 1.04
Holes RC060 to RC089 inclusive - assay data not received


All of the holes listed in Table 2 were collared in the southern portion of the TEMBO project within the interpreted stratigraphic equivalence of the footwall zone of the northwest trending, northeast dipping, Barrick Gold Corporation's Bulyanhulu gold mine situated approximately 6 kilometres to the east. The true thickness of the gold bearing intersections listed in Table 2 is unknown. The strike direction of the intersected gold bearing zones is interpreted to be normal to the orientation of the linear gold geochemical anomalies drilled, and illustrated on Figures 2 and 3 however this has not been confirmed. Also, the dip directions and amounts, for each of the intersected gold bearing zones, have not been established.

Stanley Robinson, President of Lakota stated that "the drill results received to date are very encouraging and the gold in soil/regolith anomalies delineated by the geochemical sampling programs have been effective in identifying areas hosting gold in the underlying bedrock. Given that several of these geochemical gold anomalies have only been tested by a single RC drill-hole and bedrock hosted gold was intersected implies minimal transport of the gold bearing soil/regolith in the anomalies tested. Also, the intersection of five gold bearing zones in a single fence of drill holes is encouraging from the perspective of the possibility of the presence of a resource potentially amenable to open-pit exploitation. Numerous gold anomalies on the TEMBO project remain untested and results from the current RC drilling program have defined a number of auriferous targets warranting follow-up drilling with the objective of establishing continuity of these gold zones and ultimately defining a measurable mineral resource." However, to date there has been insufficient exploration to define mineral resources and there is no certainty that further exploration will result in mineral resources being defined.



Figure 3. Map illustrating the RC drill collars and gold intersections
with respect to linear gold anomalies interpreted from results
obtained the geochemical sampling.

http://www.ccnmatthews.com/docs/Lakotamap3.pdf


It has been reported that gold at the Bulyanhulu gold mine is hosted in quartz veins, over a strike length of 5 kilometres and averages 2 to 3 metres wide (Barrick website, 2006) within argillite at the contact between mafic and felsic rocks. Year-end 2005 proven and probable reserves at Bulyanhulu were reported to be 25.916 million tons grading 0.414 ounces gold per ton for a total of 10.732 million ounces of contained gold. Gold production from Bulyanhulu was 311,000 ounces in 2005. (see www.barrick.com).

The sample preparation for the geochemical soil/regolith and bedrock samples was carried out by ALS Chemex Laboratories in Mwanza and the gold analysis for those samples collected in 2003, 2004 and Q3-2006 was carried out by ALS Chemex in Australia on either a 50 gram or a 25 gram pulp using the Atomic Absorption (AA) method. Gold analysis subsequent to Q3-2006 was carried out by ALS Chemex in Johannesburg, South Africa on a 30 gram pulp using the fire assay (FA) method with an ICP finish. Blanks, duplicates and commercial standards were inserted randomly with each sample batch submitted for preparation and analysis.

The sample preparation and gold analysis by FA with AA finish of a 50 gram pulp were carried out by SGS Laboratories in Mwanza on RC drill-cuttings from the first 17 drill holes. The sample preparation on all subsequent RC drill-cuttings was carried out by ALS Chemex Laboratories in Mwanza and the gold analysis by fire assay with atomic adsorption finish of a 50 gram pulp was carried out by ALS Chemex in Johannesburg, South Africa. Blanks, duplicates and commercial standards were inserted randomly with each sample batch submitted for preparation and analysis.

Martin Taylor P.Geo, consultant to the Company, and Stanley Robinson P.Geo, President of the Company, supervised the RC drilling. Stanley Robinson, P.Geo is the qualified person under National Instrument 43-101 who has reviewed the scientific and technical information contained in this release.

This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Outstanding Shares: 44,298,523

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Contact Information

  • Main Contact
    Vantage Communications Ltd.
    Kyle Johnston
    Investor Relations
    (778) 785-0398
    or
    Lakota Resources Inc.
    Stanley Robinson
    President
    (416) 368-1447 or Cell: (416) 505-2856
    (416) 368-8957 (FAX)
    Email: info@lakotaresources.ca
    Website: www.lakotaresources.ca