Lakota Resources Inc. Completes $1.25m Financing And Options Granted to New Board Members



    LAK: TSX-V

    TORONTO, Sept. 29 /CNW Telbec/ - Ian F.T. Kennedy, President and CEO of
Lakota Resources Inc. (LAK: TSX-V) (the "Company") commented, "In these times
of financial stress it is a pleasure to announce our offering was fully
subscribed. My thanks to the firm support of our shareholders, brokers and the
Board."
    The Company is pleased to announce that it has completed a closing of an
unbrokered private placement of 7,350,118 common share units ('Units') in the
amount of $1,249,520. The Company is in the process of filing for final
approval of this private placement with the TSX Venture Exchange. The closing
occurred Friday, September 26, 2008 (the 'Closing Date').
    Each Unit is comprised of one common share in the capital of the Company
and 1/4 common share purchase warrant, with each such full warrant entitling
the holder to acquire one common share in the capital of the Company at any
time until the first anniversary of closing at an exercise price of $0.30. All
securities issued in connection with this financing will be subject to a hold
period of four months plus one day from the Closing Date.
    The Company has agreed to pay a cash finder's fee of up to 8% cash and 8%
warrants in respect of certain subscriptions of this private placement. The
Company has paid to Capital Canada Limited and Integral Wealth Securities
Limited total commissions of $31,460 in cash and issued broker warrants of
46,265.
    The net proceeds of the Private Placement will be used to fund the
Company's exploration and drilling programs in Tanzania and for other general
corporate purposes. Management and the Board will continue to evaluate the
Company's immediate and long term capital requirements and, will act
accordingly on terms then to be determined.
    The Company wishes to announce that the Board of Directors has granted
800,000 options to the four new directors of the Company exercisable at
$0.17 per share for a term of five (5) years with immediate vesting. There is
a four (4) month hold period on the exercise of the options. Please see SEDAR,
September 3, 2008 for the news release on Directors.

    About Lakota Resources Inc. and its October Drill Program

    Lakota Resources Inc. is a junior mineral exploration company. For
complete details on the Company, and its partners, management encourages
investors and interested parties to view its public documents filed on SEDAR
at www.sedar.com.
    In October, Lakota will commence an initial, 2,000 metre diamond drill
program of 12 holes at its Tanzanian, Tembo property which is contiguous to,
and six kilometres west of, Barrick's Bulyanhulu gold mine. The drill target
area has not been tested geochemically, nor drilled as Lakota did not have
access until very recently.
    The drill program will test an area of known gold mineralization over
some 400 metres of strike, to depths of approximately 150 metres, beneath
extensive artisanal surface workings where local Tanzanian miners have been
extracting gold from quartz veins for nearly 40 years. Within this test area
an east-west zone of gold-bearing quartz veins has been identified, as well as
at least four northwest-trending mineralized crossing structures. All samples
for assay will be taken by Lakota to SGS African Assay Laboratories in Mwanza,
Tanzania, for preparation and gold analysis by fire assay.

    CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the future
plans and objectives of Lakota Resources Inc. There can be no assurance that
such statements will prove to be accurate. Actual results and future events
could differ materially from those anticipated in such statements. These and
all subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Lakota Resources Inc.
assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.
    Certain information contained in this Press Release, including any
information as to our future financial, operating or exploration performance
and other statements that express management's expectations or estimates of
future performance, constitute "Forward-Looking Statements" within the meaning
of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation..
    All statements, other than statements of historical fact, are
forward-looking statements. The words "believe", "expect", "will",
"anticipate", "contemplate", "target", "plan", "continue", "budget", "may",
"intend", "estimate" and similar expressions identify forward-looking
statements. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies.
    The Company cautions the reader that such forward-looking statements
and/or forward looking information involve known and unknown risks,
uncertainties and other factors that may cause the actual financial results,
performance or achievements of the Company to be materially different from the
Company's estimated future results, performance or achievements expressed or
implied by those forward-looking statements and, the forward-looking
statements are not guarantees of future performance. These risks,
uncertainties and other factors include, but are not limited to: changes in
the worldwide price of gold, or other commodities (such as, fuel and
electricity); fluctuations in currency markets; changes in interest rates or
gold lease rates; risks arising from holding derivative instruments; ability
to successfully complete announced transactions and integrate acquired assets;
legislative, political or economic developments in the jurisdictions in which
the Company carries on business; operating or technical difficulties in
connection with exploration, development or mining activities; employee
relations; availability and increasing costs associated with exploration or
mining inputs and labour; the speculative nature of exploration and
development, including the risks of obtaining necessary licenses and permits
and diminishing quantities or grades of reserves; adverse changes in our
credit rating, contests over title to properties, particularly title to
undeveloped properties; and the risks involved in the exploration, development
and mining business. Accordingly, readers should not place undue reliance on
forward-looking statements and/or forward looking information
    The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00008258E




For further information:

For further information: Ian Kennedy, President and CEO, (416) 598-7700;
Renmark Financial Communications Inc.: Jeffery Szita,
jszita@renmarkfinancial.com; Henri Perron, hperron@renmarkfinancial.com, (514)
939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

Organization Profile

LAKOTA RESOURCES INC.

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