LAKESIDE STEEL NAMED AS PART OF 2011 TSX VENTURE 50

WELLAND, ON, Feb. 15 /CNW/ - Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") today announced that the TSX Venture Exchange has named Lakeside Steel as one of the TSX Venture 50, a ranking of strong performers listed on TSX Venture Exchange marking the second year in a row that Lakeside Steel has been named as a TSX Venture 50 company. TSX Venture 50 is comprised of 10 emerging companies in five industry sectors that have been identified as leaders in Canada's public venture market.

Ron Bedard, Lakeside Steel's President and COO stated, "Being named to the TSX Venture 50 for a second year in a row is yet another result of the continued drive and hard work of our employees and management team through the past year. This commitment to the success of the Company will continue through 2011 as we work to bring our Alabama facility online in the fall."

The 2011 TSX Venture 50 companies were chosen based on the following criteria, with equal weighting assigned to each: share price appreciation, trading volume, market capitalization growth and analyst coverage in Cleantech, Diversified Industries, Mining, Oil & Gas and Technology and Life Sciences sectors.

About Lakeside Steel Inc.
Lakeside Steel is a 2011 TSX Venture Exchange 50 company and the parent company of Lakeside Steel Corporation ("Lakeside").  Lakeside, located in Welland, Ontario, is a diversified steel pipe and tubing manufacturer with a focus on manufacturing and upgrading Oil Country Tubular Goods. Lakeside's list of customers includes large oil and gas end users as well as distributors across North America.

Lakeside Steel also indirectly wholly-owns Lakeside Steel Alabama which will be a diversified steel pipe manufacturer strategically situated in the southern United States on successful completion of the construction of the new facility in Thomasville, Alabama. Construction of the Alabama facility is currently underway.

This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.

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. Lakeside Steel was recognized as a TSX Venture 50® company in 2010 & 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

SOURCE Lakeside Steel Inc.

For further information:

Ron Bedard
President & Chief Operating Officer
Lakeside Steel Inc.
(905) 735-7473 ext. 7294
Fax: (905) 735-8896
e-mail: ron.bedard@lakesidesteelcorp.ca
  Ken Hunter
Chief Financial Officer
Lakeside Steel Inc.
(905) 735-7473 ext. 7218
Fax: (905) 735-9069
e-mail: ken.hunter@lakesidesteelcorp.ca

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Lakeside Steel Inc.

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