EDITOR: | August 21st, 2014

Lakeland Resources Inc. Provides Update on 2014 Exploration

| August 21, 2014 | No Comments
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August 21, 2014 (Source: CNW) — Lakeland Resources Inc. (TSXv: LK) (FSE: 6LL) (OTCQX: LRESF) (the “Company” or “Lakeland”) is pleased to provide an update on recent and planned work at its 100% owned Athabasca Basin uranium properties.

Highlights

  • Star Uranium Property:
    Completion of follow-up mapping and prospecting at the Star Uranium Property.  This work was completed in order to define the deposit model and the source of the gold, Platinum Group Element (“PGE”) and Rare Earth Element (“REE”) mineralization observed during the fall of 2013.
  • Lazy Edward Bay Property:
    Exploration permits have been received for the proposed summer work program and crews will begin mobilization to the property as soon as possible.  The BAY trend will be the focus of exploration.
  • Fond Du Lac Property:
    Exploration permits have been received for the proposed summer work program and crews will begin mobilization to the property as soon as possible.  The Fond du Lac Property is targeting a coincident geochemical and conductive target at the margin of the Athabasca Basin.

Star Uranium Property:
Crews from Dahrouge Geological Consulting Ltd. recently completed a six day sampling and mapping campaign at the Star Uranium Property.  A total of 73 rock samples and 124 soil samples were collected from in and around the uplifted basement block at the northeastern portion of the property, immediately north of the margin of the Athabasca Basin.  This work was completed in order to define the deposit model and the source of the gold and Platinum Group Element (“PGE”) and Rare Earth Element (“REE”) results obtained in the fall of 2013.  The 2013 sampling explored a small portion of the uplifted basement outcrop on the Star Property. Anomalous concentrations of gold (up to 5.7 g/t Au), platinum group elements (0.75 g/t PGE’s), rare earth elements (up to 6.9% TREO) and highly anomalous uranium; suggest the presence of a robust hydrothermal system.

Lazy Edward Bay Property:
Exploration permits have been received for the proposed summer work program and mobilization to the property will begin as soon as possible.  The BAY trend will be tested with a RadonEX survey.  This and other targets will be prospected in order to locate boulders or other surface expressions of shallow unconformity-style uranium mineralization.

The BAY trend consists of two parallel conductive trends at the southern margin of the Athabasca Basin. The BAY trend is highlighted by historic exploration of Uranerz in 1982, where drill hole LE-50 which intersected the basement rocks about 1 kilometre south of the Athabasca sandstones. Moderately chloritized and sericitized, and weakly hematized migmatitic, graphitic pelite returned an assay value of 770 ppm uranium along with anomalous boron, nickel, pathfinder metals (Sask AR: 74G07-0042).

Fond Du Lac Property:
Exploration permits have been received for the proposed summer work program and crews will begin mobilization to the property as soon as possible.  The Fond du Lac Property is targeting a coincident geochemical and conductive target at the margin of the Athabasca Basin.

NI 43-101 Disclosure

The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a qualified person.

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.

On Behalf of the Board of Directors
LAKELAND RESOURCES INC.

“Jonathan Armes”

Jonathan Armes
President, CEO and Director

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, but are not limited to, all references to summer work programs and the mobilization of crews; that work completed will define the deposit model and the source of the gold, PGE and REE mineralization; and suggestions of the presence of a robust hydrothermal system.

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.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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