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News Release: Lakeland Resources Inc. (TSXv: LK) Expands its Uranium Advisory Board with the Addition of John Gingerich, P.Geo.
1. TSXv: LK FSE: 6LL
Lakeland Resources Inc. Expands its Uranium Advisory Board with the
Addition of John Gingerich, P.Geo.
October 23, 2013 – Lakeland Resources Inc. (TSXv: LK) (FSE: 6LL) (the “Company” or
“Lakeland”) is pleased to announce that Mr. John Gingerich, P.Geo., a prominent professional
geoscientist, has been added as the third member of the Company’s Advisory Board.
Mr. Gingerich’s career in the mining and exploration industry spans over 30 years, with a
specialization in geophysics and technical innovation. Mr. Gingerich worked for Eldorado
Nuclear from 1979-1986 – one of the predecessors to what is now Cameco. John spent most of
his time between Stony Rapids and Fond du Lac covering the ground currently held by Lakeland
making up the Riou Lake Property.
“Lakeland has assembled a driven, entrepreneurial team, backed by technical expertise specific
to the Athabasca Basin,” stated Jon Armes, President. “We are pleased that John has joined us as
he brings continuity from the historic work and insights into the potential of the property.”
Mr. Gingerich was past Director of Research, Technical Innovation and Exploration within the
Noranda group, where he was part of the senior management team and involved in the
evaluation, acquisition and development of mineral opportunities within Canada and around the
world.
In 2002, John founded Geotechnical Business Solutions, a company dedicated to the
development and financing of exploration opportunities and related technology. As a recognized
leader within the mining and technology communities, John is a member of several industry and
government boards and committees including the Exploration Division of the Canadian Mining
Industry Research Organization (Chairman) and the Ontario Geological Survey Advisory Board
(Chairman).
In conjunction with his appointment to the Advisory Board, the Company has granted Mr.
Gingerich 100,000 incentive stock options exercisable for a period of five years from the date of
grant at a price of $0.10 per share.
Lakeland recently commenced fieldwork at the Riou Lake Property located along the northern
rim of the Athabasca Basin. The program is focused on the “Gibbon’s Creek” target and consists
2. TSXv: LK FSE: 6LL
of surface prospecting and boulder sampling with hand-held scintillometers, a RadonEx™ soil
gas radon survey, line-cutting and a ground DC resistivity geophysical survey. The current
program, in combination with the extensive historic exploration data available, will define the
targets for an anticipated initial drill program at Gibbon’s Creek in the winter Q1 2014.
The Riou Lake Property benefits from $3M+ of historic exploration including modern
geophysics completed by the previous owner UEX Corp. in 2005 and work by Eldorado Nuclear.
The property benefits from nearby infrastructure, with power lines and highways transecting the
claims. Lakeland is focused on testing targets, such as Gibbon’s Creek, where the depth to the
unconformity is known to be shallow (ie. ~50-250 metres) increasing the economics of
exploration.
Second Tranche of Private Placement:
Lakeland also announces the closing of the final tranche of its previously announced nonbrokered private placement (initial news release dated August 16, 2013) and first tranche closing
on September 3, 2013. The Company issued an aggregate of 3,104,480 Units (340,000 flowthrough units (“FT Unit”) for gross proceeds of C$318,948.
Each Unit consists of one common share of the Company and one common share purchase
warrant (“Warrant”). Each Warrant entitles the holder to purchase one common share of the
Company at a price of $0.15 per share for a period of 12 months following the date of issuance.
Each FT Unit consists of one common share of the Company issued on a ‘flow-through’ basis
and one Warrant.
Finder's Fees of C$14,101.50 and 137,515 Finder's Units were awarded in relation to this portion
of the financing. Each Finder's Unit consists of one common share and one share purchase
warrant exercisable into one common share at $0.15 for one year from closing.
All of the securities issued under the second tranche of the offering are subject to a hold period
expiring on February 17, 2014.
About Lakeland Resources Inc.
Lakeland Resources Inc. is a pure play uranium exploration company focused on the Athabasca
Basin in Saskatchewan, Canada; home to some of the world’s largest and richest high-grade
uranium deposits. The Company’s common shares trade on the TSX Venture Exchange under
the symbol “LK” and on the Frankfurt Stock Exchange under the symbol “6LL”.
3. TSXv: LK FSE: 6LL
For more information, please visit the corporate website at http://www.lakelandresources.com or
contact Roger Leschuk, Corporate Communications at Ph: 604.681.1568 or TF: 1.877.377.6222
or email: roger@lakelandresources.com
On Behalf of the Board of Directors
LAKELAND RESOURCES INC.
“Jonathan Armes”
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
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 Lakeland has commenced fieldwork at Riou Lake and that the initial program will be
focused on the “Gibbon’s Creek” target and consist of surface prospecting and boulder sampling with hand-held
scintillometers, a RadonEx™ soil gas radon survey, line-cutting and a ground DC resistivity geophysical survey and
that the current program, in combination with the extensive historic exploration data available, will define the
targets for an anticipated initial drill program at Gibbon’s Creek in the winter Q1 2014.
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.