Lucky Strike Resources Ltd.

Lucky Strike Resources Ltd.

August 22, 2011 10:46 ET

Lucky Strike Strengthens Technical and Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2011) - Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY) is pleased to announce the strengthening of its technical and management team to form a well-rounded group of professionals as part of the solid foundation to capitalize on current and future mining project opportunities.

Ed Ullmer, M.Sc., P.Geo

Senior Geologist, Project Geology Overseer

Mr. Ullmer brings over 40 years of US and international geological exploration and development experience, including numerous field exploration seasons in Mongolia. He graduated with a M.S. in geology and a M.Ed. from the University of Arizona. In addition to working on mining projects, Mr. Ullmer has ten years of experience as an environmental geologist-hydrologist and a number of years as a photogeologist engaged in producing geology maps world-wide for mineral and oil exploration programs. He has accumulated extensive experience having been an employee for numerous mining companies including Hudson Bay Mining and Smelting, Union Pacific Railroad, Cerro de Pasco, Rocky Mountain Energy and DeBeers as well as a mining consultant for 15 years. Mr. Ullmer's field experience encompasses numerous precious, base metals and energy commodities, including copper-lead-zinc-silver-molybdenum, uranium, vanadium, diamonds, gold, and coal at project and senior geologist and lead-geologist levels. His broad field expertise includes accomplished work in Canada, US, Zambia, Ireland, Peru, China, and Mongolia. Mr. Ullmer is a Qualified Person as defined by NI 43-101 and has professional geologist certifications with the American Institute of Professional Geologists (AIPG) and in the States of Wyoming and Nebraska.

Mr. Ullmer will be responsible for overseeing the general progress of Lucky Strike's exploration programs in Mongolia.

Andrew Frazier, P.Geo.

Geologist, Mongolia Project Supervisor

Mr. Frazier has over a decade of progressive, professional geological experience in mining, engineering, and environmental practices in all stages of mining, exploration, mine development and operations, as well as international mine development experience in Mongolia, Nicaragua and Australia. He was the lead geologist for Green Diamond Resource Co. for five years. Concurrent with the fieldwork in Mongolia, Mr. Frazier is completing his thesis on mineral transportation study for revenue potential of mineral resources in Mongolia to achieve a M.Sc. degree with the Michigan Technological University. Mr. Frazier is a Qualified Person as defined by National Instrument 43-101.

Mr. Frazier will be responsible for the on-going day-to-day exploration programs at the project site in Mongolia.

Don Arsenault, P.Eng., MBA

Senior Mining Engineer, Mongolia Mining Advisor

Mr. Arsenault is a senior mining engineer with over 35 years of experience in operations management, design, planning and project management of mining projects in Canada and internationally, including 7 years in Mongolia. Mr. Arsenault has practical experience in large operations related to uranium and base metals. In addition, he has held project management responsibilities on a wide variety of mining engineering projects including due diligence, financial evaluation, pre-feasibility and feasibility studies. He possesses strong analytical and communication skills, complemented by the hands-on experience necessary to manage projects in developing mining markets such as China and Mongolia.

Mr. Arsenault will be advising Lucky Strike on developing mining projects in Mongolia.

John Wong, P.Eng.

Senior Mechanical Engineer, Power Engineering Specialist

Mr. Wong is a power plant specialist, has over 34 years of engineering and project management experience related to steam, power process, and industrial power generation. Mr. Wong was responsible for the development, engineering, design, construction supervision, commissioning and start-up of numerous power generation projects in Canada and China. He developed a multiphase power plant of 120 MW in the first phase and 390 MW in the expansion in Yongxing County, Hunan province, China. The plant is environmental friendly in desulfurization. As a mechanical engineer, Mr. Wong has extensive industrial experience including performing energy audits, steam and power balances, power plant major equipment sizing and selection, boiler modifications, pressure vessel design and power piping systems in the industrial, petrochemical and electric power facilities.

Mr. Wong will be advising Lucky Strike on the feasibility of power plant development.

Xin Ping Qin, Mining Engineer

Senior Coal Mining Specialist

Mr. Qin, with more than 20 years of underground coal mining engineering, was the president of the Guangxi Industrial Design Institute. He is a leader in technical skills, mine planning and project management, has overseen more than 200 mining professionals. Mr. Qin is a graduate of the Jiaozuo Mining Institute in underground coal mining engineering in 1982. Mr. Qin is an expert in troubleshooting mining problems and the design of coal mines. His project development skills along with his excellent interpersonal skills and great understanding of the Asian culture will assist the Company in playing a significant role in the growth of coal production in Mongolia and China.

Mr. Xin will be advising Lucky Strike on coal project feasibility study.

Xu Hao, B.Sc., MBA

Senior Process Engineer, Project Management Advisor

Mr. Xu Hao has more than 25 years of Mining and Mineral Processing project management experience including consulting in Mongolia. Recently, he has been providing professional services to Central China Goldfield, Silver Dragon and Chifeng Yinfeng Mine. As the China Area Manager for Ausenco Ltd., Mr. Xu worked on numerous projects including gold study for Black Dragon, silver study for Silver Dragon Erbahuo, gold project coordination for Mundoro Maoling, Ying due diligence for Silvercorp, copper due diligence for Qulong and Jiama, evaluation for Zibo Rare Earth Metallurgical Plant and management for Jinfeng Gold project. In addition, he has provided Project Management Consultant services for PNG Chromate and Cayman Alumina Refinery Projects. Well versed in English, Mr. Xu Hao has carried out consulting services to international and Chinese companies including Beijing Zhuangding Technology Ltd, Wogen of UK, Outokumpu AG of Sweden, Seimens AG of Germany, Beijing General Iron and Steel Research Institute.

Mr. Xu Hao will be reviewing the constructability and development of mining exploration projects.

Jasman Yee, P.Eng.

Senior Mineral Processing Engineer, Technical Advisor

Mr. Yee is a mineral processing engineer with over 35 years of operational, managerial, engineering and consulting experience in the processing of precious and complex base metal ores within North America and abroad. He is currently the director of Avino Silver and Gold Mines Ltd and has held senior positions with H A. Simons, Bateman Engineering and Bacon Donaldson & Associates. He has commissioned and started up mines for Falconbridge Copper in Ontario, Canada Wide in Gays River, Nova Scotia, Erickson Gold Mines in Cassiar, BC and the autoclave restart for the Con Mine in Yellowknife, NWT. In addition, he has provided operational assistance and guidance at the Campbell Mine in Red Lake, Ontario during their switchover from roasting to autoclaving for their gold flotation concentrates. Mr. Yee is presently providing technical assistance to several mining operations in Canada and Mexico.

Mr. Yee will be advising Lucky Strike on technical issues in Mongolia.

Baatarjav Bat-Amgalan, Senior Counsel

Mongolia Advisor

Mr. Bat-Amgalan is a proficient senior counsel of business development in Mongolia where he has been awarded the Order of the Polar Star by the President of Mongolia in 2010, for his contribution to the development of history and cultural heritage of the nation. With more than 15 years of experience in natural resource development, Mr. Bat-Amgalan has contributed significantly to the development of the Erel Gold Mining Group and to the establishment of strong Canada-Mongolia relationships for Ivanhoe Mines. Mr. Bat-Amgalan's regional network and understanding of the Mongolian culture is a key factor in Lucky Strike's capacity to develop its assets and unlock their full value.

Mr. Bat-Amgalan will assist Lucky Strike in its on-going progress of developing projects in Mongolia.

Patricia Wilson, Director & Senior Company Executive

Chief Financial Officer

Ms Wilson has in-depth experience in operating a public company, having served Lucky Strike in various progressive positions as Chief Financial Officer, Corporate Secretary, Treasurer, and Director of Lucky Strike over the course of the past 20 years. Ms Wilson was the CEO of Lucky Strike between 2002 and 2010. She has a proven track record of delivery and a strong sense of obligations and duties. Her solidness in her dedication towards the building of Lucky Strike over a prolonged period of time has demonstrated commitment as the Company charters ahead in its critical stage of expansion with the assembly of project assets and people. Lucky Strike needs an assurance of delivery through confirmed sustainability. Ms Wilson replaces Mr. Danny Hon whom the Company thanks for his contribution and wishes to success in continuing his endeavours.

Ms Wilson will oversee financial and corporate compliance of the Company to meet regulatory requirements.

Jennifer Singh, Project Construction Management

VP Corporate Communications

Ms Singh has over 15 years of extensive industry experience in the fields of construction, civil/structural engineering, public relations, marketing and promotions. Projects include upgrading fuel systems across Canada for TELUS Communications, building student housing for Macquarie University in Australia, scheduling/estimating major projects for BC Hydro - Transmission Engineering, and facilitating community events and corporate fundraisers. Her experience and qualifications in safety were crucial for developing and implementing safety procedures for major construction companies in Vancouver, Canada, and Sydney, Australia. Working in diverse industries ranging from construction to community services, she has developed skills in business development, strategic planning, networking and assisting in corporate compliance. Ms Singh is a Technologist in Civil/Structural Engineering and she is currently completing her degree in Construction Management.

Ms Singh will communicate with the shareholders of Lucky Strike and to bring market awareness of the Company's development to the financial community.


The Company also announces that, subject to regulatory approval, it has granted to the employees, consultants, officer and director 480,000 stock options exercisable at $0.80 per share for a period of five (5) years, subject to a vesting period of 36 months.

2011 is the significant foundation-building year for Lucky Strike as the Company is assembling project assets and people, and developing market awareness. Lucky Strike is a fundamentally strong, grounded group of professionals dedicated to the growth of the Company through sheer hard work in the development of solid assets.


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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