LAKOTA RESOURCES INC.
TSX VENTURE : LAK

LAKOTA RESOURCES INC.

October 06, 2005 13:19 ET

Lakota Resources Inc.: Viking Gold Granted Earnin Extension

TORONTO, ONTARIO--(CCNMatthews - Oct. 6, 2005) - Lakota Resources Inc. (TSX VENTURE:LAK)(the "Company")has granted an extension to Viking Gold Exploration Inc. (TSX VENTURE:VEN) to September 6, 2007 to complete their commitment to earn a 60% interest in the Moris Lake property, NWT owned by the Company's subsidiary Viking Yellowknife Gold Mines Limited. As compensation for this extension Viking Gold will issue to the Company 250,000 of its common shares.

Under the original agreement between the Companies dated June 5, 2003, VEN must make cash and stock payments of $115,000 and 100,000 shares respectively and perform work on the property totalling $1.5 million by June 5, 2006 to earn a 60% interest. To date Viking has made all their payments and spent approximately$800,000 on the property and plan a drilling program for February March 2006 to take advantage of the Lac du Gras winter road with its attendant considerable savings to bring supplies and equipment to the property. Due to this relatively short window to carry out their drill program and to allow for systematic evaluation of the property VEN requested the noted extension to meet the required expenditures over two orderly winter drilling campaigns rather than try to expend the entire amount within the noted narrow time frame during 2006. VEN has received promising results (see VEN press releases April 18, 2005, August17, 2005) to date from their programs.

In an unrelated matter, at a meeting of the Board of Directors on October 4, 2005, George Breuler, Chairman, John L. Tindale, Secretary-Treasurer and Stanley D. Robinson, Director were granted 100,000 stock options each and Martin Taylor, consultant to the company 50,000 stock options and Gary Nassif, Director, 25,000 stock options at an exercise price of $0.37.

Stanley Robinson, M.Sc., P.Geo is Lakota's qualified person for the purposes of National Instrument 43-101.

Outstanding Shares: 27,791,134



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

Contact Information