VANCOUVER, June 30 /CNW/ - Harp Sangha, CEO and President of Douglas Lake
Minerals Inc. (DLKM-OTCBB) announced today that the company has closed the
acquisition of the Mbwemkuru Alluvial Gold Project Licences in the Lindi
region in Southeastern Tanzania.
The Prospecting Licences are situated in the SE margin of the Karoo Basin
and cover an area of 430 square kilometers. The property is currently in small
scale production by the owner. One of the most significant prospects is an
eight by two kilometer block, with high gold concentrations within 1.0 and 1.5
meter zones between the gravel and bedrock. Results of initial systematic
sampling of alluvium as reported by Echo Tech Laboratories showed an average
grade of 9.48 g/t gold.
The vendor of the property will receive $1,000,000.00 USD, a 3% Net
Smelter Return (NSR), and a five year employment contract, totaling
$540,000.00 USD. The necessary funding was provided by the Tianjin Institute
of Geology and Mineral Resources (TIGMR).
"We are extremely pleased with this new acquisition and we are looking
forward to announcing further assay results in the near future," stated Harp
ABOUT DOUGLAS LAKE
DLKM is an emerging mineral exploration company focused on exploring and
developing gold, copper, nickel, uranium and diamond mining opportunities in
Tanzania. DLKM has a portfolio of 51 prospecting concessions.
This release contains forward-looking statements which involve risks and
uncertainties. Complete forward-looking statement is available at
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