Douglas Lake Minerals Inc. Provides Update On Mkuv (the "Company") announced that it has received aproject review report (the "Report") respecting the Company's MkuviaGold Placer Property (the "Property"), located in Tanzania. The Report,dated May 27, 2009, was prepared for the Company by Ross McMaster, anindependent consultant and registered member of the Australian I.M.M.with over 30 years of relevant exploration experience. The Reportdetails the preliminary surveying work on the Property and outlines anInferred Resource (volume) of gold bearing recent alluvium and terracealluvium as defined by the Stage 1 pitting and sampling in theMatandani prospect (of the Mwemkuru River headwater area) that is inthe range of 2.19 million loose cubic metres with an average grade 0.3grams of gold per loose cubic metre (g/Lcm). (A loose cubic metre isdefined as the expansion of the in situ measurement of material thatonce excavated increases by a 20-30% factor that will be determinedexactly in further test work.) The inferred resource calculation isconformable to the JORC standards.
The results of this program are based on the 528 samples taken fromapproximately 155 pits which were sampled as separate horizons (sand,gravel and cobbles) where possible that were hand dug on 500 metrespaced lines with 50 metres spaced pits. The compilation of all heavymineral and gold results has been completed by TMEx staff in laboratoryconditions at Arusha, Tanzania, which included separating and weighingthe gold recovered from each sample where measurable gold was observed.Samples were collected as a measured volume of loose material (e.g,sand, gravel) and usually were 100 litres in field estimated volume.Each sample was processed in the field using a 7.5 inch Knelsonconcentrator to produce a heavy mineral concentrate. After furtherhand-panning in the TMEx laboratory to reduce the concentrate, theconcentrate was dried. The gold was then the separated from all otherminerals, described and weighed to give a result in g/Lcm.
This compilation has allowed for the presentation of cross sections andquantifiable data on 8 of the 10 sections that show the surfaceprofiles and the grades of recoverable gold to enable the resourcecalculation. TMEx is a company controlled by Mr. McMaster.
The Property comprises four prospecting licenses (each a "PL") coveringa total area of approximately 430 square kilometers which include theoutlined resource (an area of less than approximately two squarekilometres) with in an potential paleoplacer/beach placer envelope thatis estimated to be 29 kilometres long (covering the whole length of theproperty) and up to 5 kilometres wide. The Property is located in theNachingwea District, Lindi Region of the United Republic of Tanzania,approximately 140 kilometers west of Nachingwea town. The Lindi Regionis one of the three regions forming the Southern Zone of the UnitedRepublic of Tanzania, the other regions being Mtwara and Ruvuma. TheMtwara and Ruvuma regions border northern Mozambique and easternMalawi.
The alluvial geology of the prospecting licenses is dominated by athick transported sedimentary paleo-placer cover generally consistingof a well rounded and sorted pebble basal unit overlain by massive tograded orange-yellow sand unit and all covered by white grey sand unitwhich covers a large part of the area.
The reconnaissance exploration work on the project to delineate boththe resource outlined above and the potential placer envelope wascompleted in 2008/09 and included surface geological and regolithmapping, stream sediments sampling, bedrock mapping and sampling andthe pit sampling program outlined above.
The existing PLs initially consisted of two prospecting licenses (the"PLs") and one prospecting license reconnaissance (the "PLR"), whichwere granted to Mr. Mkuvia Maita in 2004 and 2005 for a period of threeyears (for the PLs) and two years (for the PLR). Following Mr. Maita'sapplication for license renewal submitted to the Ministry of Energy andMinerals in 2007, the PLR was subdivided into two PLs, and the fourresulting PLs were awarded through a Notification of Grant on August16, 2008 for a period of three years from the date the PLs would beissued from the Ministry of Energy and Minerals. The Company hadentered into a joint venture agreement with Mr. Maita shortly beforethat time, in June 2008, whereby the Company acquired all of Mr.Maita's rights under the PLs and the PLR, including the right to enter,sample, drill and otherwise explore for minerals, subject to a 3%royalty payable to Mr. Maita on any minerals that may eventually beproduced.
The Property has several overlying primary mining licenses (each a"PML") which have mineral rights that lie within the boundaries of theProperty. Generally, PMLs represent limited mining rights which allowsmall scale exploitation of minerals by local miners and must pre-datethe establishment of a prospecting license. The maximum size of thedemarcated area for a PML for all minerals other than buildingmaterials is 10 hectares. Each PML is granted for a period of fiveyears and is renewable, upon request. Pursuant to his joint ventureagreement with the Company, Mr. Maita is required to request thegovernmental mining authorities to revoke PMLs that overlap any areaswhere the Company plans to apply for a mining license.
The Report does not comply with Canadian National Instrument 43-101Standards for Disclosure of Mineral Projects and its Companion Policy("NI 43-101"). NI 43-101, as it applies to the Company, provides thatwritten disclosure publicly made by a company of a mineral reserve,mineral resource or preliminary assessment relating to a mineralproperty material to the Company must be supported by a technicalreport filed with the British Columbia Securities Commission (the"Commission") in accordance with the requirements of NI 43-101.Accordingly, the Company has undertaken to the British ColumbiaSecurities Commission to file a NI 43-101 compliant technical report onthe Property within 45 days from the issuance of this press release.
Cautionary Note to Investors Concerning Estimates of InferredResources: Investors are advised that while the use of the term"inferred" resources is recognized and required by Canadianregulations, the United States Securities and Exchange Commission doesnot recognize them. "Inferred" mineral resources have a great amount ofuncertainty as to their existence, and as to their economic and legalfeasibility. It cannot be assumed that all or any part of an inferredmineral resource will ever be upgraded to a higher category. UnderCanadian rules, estimates of inferred mineral resources may not formthe basis of feasibility or other economic studies. Investors arecautioned not to assume that all or any part of inferred mineralresources will ever be converted into mineral reserves. Investors arealso cautioned not to assume that all or any part of an inferredmineral resource exists, or is economically or legally mineable.
The technical information in this news release has been prepared inaccordance with the Canadian regulatory requirements set out in NI43-101 and reviewed by Laurence Stephenson, P. Eng., a "qualifiedperson" under NI 43-101, who has been engaged by the Company as anindependent consultant.
About Douglas Lake
The Company is an emerging mineral exploration company focused onexploring and developing mining opportunities in Tanzania. For moreinformation, go to www.douglaslakeminerals.com.
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