Lakeland Resources Inc. Reports Gold Discoveries on Midas Property, Wawa, Ontario

VANCOUVER, May 18 /CNW/ - Lakeland Resources Inc. (TSXV: LK) (the "Company" or "Lakeland") is pleased to report the discovery of two gold bearing zones on its 100%-owned Midas Property located near Wawa, Ontario. The two zones, termed the M-11 and M-16 zones, were intersected in the recently completed drill program. Highlights include:

  • 4.7 metres of 5.92 g/t Au; including 8.88 g/t Au over 2.6 metres and 12.07 g/t Au over 0.8 metres in drill hole M-11-04 (M-16 Zone)

  • 3.9 metres of 3.79 g/t Au; including 7.03 g/t Au over 2.0 metres in drill hole M-11-05 (M-16 Zone)

  • 6.0 metres of 1.70 g/t Au; including 4.61 g/t Au over 2.0 metres in drill hole M-11-01 (M-11 Zone)

The initial drilling program was completed in late March and consisted of 5 shallow holes (M-11-01 to M-11-05) totalling 863 metres. Gold mineralization was encountered in each of the 5 holes. Drilling was conducted to test targets identified by prospecting and I.P (induced polarization) surveys which were carried out in late 2010, and early 2011. Only a small portion (approximately 10%) of the entire Midas Property was covered by these ground surveys.

Interpretation from the very limited drilling to date suggests that the gold mineralization in both the M-16 and M-11 zones is structurally controlled. In the M-16 zone, gold mineralization occurs in a deformed, folded, fractured and altered iron formation with cross cutting quartz carbonate tourmaline pyrite veins. The highest value of 12.07 g/t Au was returned from 0.8 metres of altered silica - sulphide facies iron formation. The M-11 zone, located approximately 75 metres to the north of the M-16 zone, consists of quartz carbonate pyrite altered mafic volcanic rocks with gold mineralization up to 4.61 g/t over a core length of 2.0 metres. Both zones remain open in strike direction and at depth, the deepest intercept to date being approximately 50 m vertically below surface. The Company believes that both the M-16 and M-11 zones occur in geological settings similar to that of the nearby gold deposits in the Wawa area, including Richmont Mines' (TSX: RIC) Island Gold Mine and Prodigy Gold's (TSXV: PDG) Magino Gold Project located some 22 kilometres to the northwest.

All holes were drilled due north and inclined at -45°. More detailed information on the property location, ground geophysics, drill hole locations, and photographs of drill core will be posted on the Company's website at: http://www.lakelandresources.com/projects/midas/. Complete assay results are summarized in the following table:

Drill Hole   Zone From (m)   To (m)   Width (m)   Grade Au (g/t) 
M-11-01 Unknown   32.0 41.0 9.0 0.55
  M-11 54.0 60.0 6.0 1.70
including   55.0 57.0 2.0 4.61
           
M-11-02 Unknown 89.0 96.0 7.0 0.34
           
M-11-03 Unknown 55.4 56.8 1.4 1.06
           
M-11-04 M-16 45.7 50.4 4.7 5.92
including   46.7 49.3 2.6 8.88
including   46.7 47.5 0.8 12.07
           
M-11-05 Unknown 21.0 22.0 1.0 1.34
  M-16 27.0 30.9 3.9 3.79
including   28.9 30.9 2.0 7.03
  • All results shown are over core lengths, not true widths. True widths are not known at this time.

  • Drill core was industry standard NQ in size. All split or sawn core samples were submitted to Swastika Laboratories, Swastika, Ontario for analysis. All gold assaying was performed using a 30g standard fire assay with an AA and / or gravimetric finish.

Based on these significant results, the Company is planning an expanded summer drilling program with the primary aim to further evaluate the M-16 and M-11 gold zones. Drilling will also be aimed at geophysical/geological targets defined by ground surveying that remain to be tested. As well, a surface exploration program consisting of line cutting, geological mapping, prospecting, and geophysical surveying (induced polarization and magnetics) will be planned for areas of the Midas Property which have not yet been surveyed.

"The discovery of the M-16 and M-11 zones is an exciting development for Lakeland. The geological setting and the gold grades and widths are similar to that of other deposits in the Wawa Camp," stated President and CEO Jonathan Armes. "We look forward to recommencing drilling to further evaluate these zones."

The Midas Property, geologically situated within the Michipicoten Greenstone belt, consists of 10 claims (107 claim units) covering 1,712 hectares approximately 50 km northeast of Wawa Ontario. The property is road accessible and is located approximately 20 kilometres southeast of Richmont Mines' (TSX: RIC) Island Gold Mine complex and Prodigy Gold's (TSXV: PDG) Magino Gold Project.

Lakeland has implemented a quality control program for all of its drill programs to ensure best practice in the sampling and analysis of the drill core which includes the insertion of blanks and certified standards into the sample stream. NQ sized drill core is saw cut or split with half of the drill core sampled and the remaining half of the core securely stored on-site at the Company's core shack in Wawa, Ontario. Drill core samples were transported in security sealed bags to Swastika Laboratories in Swastika, Ontario for industry standard analysis.

NI 43-101 Disclosure

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Robert Duess, P.Geo., a Qualified Person.

About Lakeland Resources Inc.

Lakeland Resources Inc. is a publicly traded mineral exploration company focused on creating shareholder wealth through the discovery of new gold deposits with a 100% focus on Canadian assets principally in Ontario. Lakeland aims to create value through the drill bit and build a successful mineral exploration company by combining technical knowledge, a motivated management team and board, strong and clear messaging and supportive investors.

Lakeland has 19,472,878 shares outstanding and a cash position of C$1.1M. The Company's common shares trade on the TSX Venture Exchange under the symbol "LK."

For more information, please visit the corporate website at http://www.lakelandresources.com

On Behalf of the Board of Directors
LAKELAND RESOURCES INC.

"Jonathan Armes"

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

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the company is planning an expanded summer drilling program with the primary aim to further evaluate the M-16 and M-11 gold zones, that drilling will also be aimed at geophysical/geological targets defined by ground surveying that remain to be tested, and that a surface exploration program consisting of line cutting, geological mapping, prospecting, and geophysical surveying will be planned for areas of the property which have not yet been surveyed.

It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.  Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.

For further information:

Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@lakelandresources.com
Web: http://www.lakelandresources.com

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Lakeland Resources Inc.

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