Lucky Strike Resources Ltd.
TSX VENTURE : LKY

Lucky Strike Resources Ltd.

August 29, 2011 09:53 ET

LUCKY STRIKE CN Project Quality Assurance and Quality Control of the Due Diligence Work

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY) is pleased to announce the engagement of services with Norwest Corp, JEB Mineral Surveys, MonMap, SGS Mineral Services and Stewart Group to complete a quality assurance and quality control (QA/QC) analysis as part of the Company's due diligence investigations in connection with its acquisition of an 80% interest in six mining exploration licences and permits in the Choir-Nyalgia coal basin in south-western Mongolia (the "CN Coal Project"). This announcement is further to the Company's news release of August 8thwhich announced the commencement of a 1,500 m due diligence drilling program on the CN Coal Project.

Norwest Corp. of USA has outlined the QA/QC procedures for geotechnical core logging procedures and rotary drilling logging procedures. In order to obtain valid results, the cores must be processed and logged in a consistent manner by all personnel involved. This involves careful handling, washing, orientation and marking of the core prior to logging. The core samples will be preserved following industry standard procedures including ASTM D5192 to retain in-situ moisture and avoid contamination. The Rotary Drilling geologic logging covers procedures used for logging rotary chip samples for holes that are drilled using Polycrystalline Diamond (PCD) for the purpose of identifying coal seam locations down each hole. The procedures outline a step-by-step methodology to achieve these QA/QC practices. Additionally, Norwest has been conducting on-site training and supervision of the field personnel involved in this effort.

JEB Mineral Surveys of Ulaanbaatar is carrying out the down-hole geophysical logging. The truck-mounted down-hole wire-line probe produces density, gamma and resistivity logs as well as a caliper log. The probe is lowered into the uncased PCD hole, or, for a core hole, the probe is dropped through the drill rods. For the latter, the resistivity and caliper data cannot be collected. The combined density and gamma data curves are typically sufficient to discriminate coal beds from other sedimentary units. In a PCD hole, the cuttings will be collected every 1 to 2 meters' and will be geologically described to help confirm lithology signatures from the down-hole geophysics survey. Cores will be described in greater detail, and for coal-bearing units, specific coal parameters will be emphasized. A Rock Quality Designation ("RQD") description will be included for intervals of non-coal sediments. Sample cuttings from the PCD drilling will not be sampled for laboratory analysis.

MonMap Engineering Services Co. of Ulaanbataarwill survey the drill hole locations and significant features on the CN Coal Properties. MonMap was founded by Mongolian geoscience engineers in 1992. They perform high quality topographic mapping, aerial photography, remote sensing, geophysical, geological, geochemical, other geoscientific surveys and GIS services for many international projects.

SGS Mineral Services of Australia and Stewart Group of UK have been selected for sample preparation and analysis with local laboratories in Ulaanbaatar. A proximate analysis will report on coal core samples with values for moisture content, ash, volatile constituents, fixed carbon, sulphur and calorific value. The QA/QC practices are to meet the requirements of ISO 9001 and/or ISO 17025.

Lucky Strike expects the log results of the due diligence drilling to be announced within 60 days and the coal quality assay results to be available 20 days thereafter. Furthermore, Norwest Corp. is on schedule for a September release of the NI 43-101 Technical Report with a calculation of compliant coal resources in the measured, indicated and inferred categories. The reportable coal mineral resource estimates will be based on the results of the initial 2,000 meter exploration drilling program supervised by Norwest in 2009 on a small portion of three of the six CN coal properties representing less than 10% of the total licensed area.

Edwin Ullmer, P. Geo., a Qualified Person as defined by National Instrument 43-101 and an independent consultant of the Company, has read and approved the technical and scientific information contained in this news release.

ON BEHALF OF LUCKY STRIKE RESOURCES LTD.

Cathy Fong, P.Eng, Chairman & CEO

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the completion of the acquisition of the properties described above, potential future exploration activities on such properties, the completion of technical reports in respect of such properties, future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.

Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and assumptions, including the results of the Company's due diligence investigations in respect of the transaction, that the Sellers perform their obligations under the Definitive Agreements, receipt of all necessary regulatory approvals, including that of the TSX Venture Exchange, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. 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 not to be as 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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