Lakota Resources Inc. - Terms for a Private Placement of Units

          Financing for Drilling Underneath Artisanal Gold Workings
                              at Tembo, Tanzania

    TORONTO, Aug. 12 /CNW/ - On June 24, 2008, Lakota Resources Inc. (LAK:
TSX-V) (the "Company") announced that the Board of Directors of Lakota
Resources Inc. had authorized a common share private placement financing of up
to $1,250,000 (gross proceeds). On July 7th the Company announced the terms
for the private placement. In light of market conditions the Board
reconsidered the terms previously announced and determined to reprice the
    The Company is pleased to announce the terms of an offering in an
unbrokered private placement consisting of up to 7,353,000 units at a price of
$0.17 per unit consisting of one common share and 1/4 common share purchase
warrant to purchase shares at $0.30 for a period of 1 year from the Closing
Date in the total amount of up to $1,250,000 (gross proceeds). The Closing
Date is anticipated as being on or before August 31, 2008. 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 and is subject to Toronto
Venture Exchange approval.
    A finder's fee or commission may be paid at the discretion of the Company
in respect of this private placement.
    The principal use of proceeds from this financing is to conduct a diamond
drilling program at Lakota's Tembo gold property in Tanzania and for general
corporate purposes. Drilling will be underneath the extensive artisanal gold
workings found at Tembo. The Tembo property is contiguous to Barrick's
Bulyanhulu mine which supports a 12 million oz gold resource and produces over
300,000 oz's of gold per year.

    About the Company

    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


    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.

    %SEDAR: 00008258E

For further information:

For further information: Ian F.T. Kennedy, President, LAKOTA RESOURCES
INC., Phone: (416) 598-7700

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