LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

Local News - Proceeds from recent financing

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Someone posted a few weeks ago, possibility for LSG raising money. One of them had been a potential mill purchase. Recent new release from a local nickel junior (Liberty) discusses the "bell creek mill & barrick/Placer development. The intention to construct a mill at the Redstone mine site was stated in the July 25 and September 21, 2005 news releases. A crushing circuit design was underway and a jaw crusher was sourced in October when the opportunity to buy the Bell Creek mill from the Placer Dome/Kinross joint venture ("PJV") in Timmins was presented to Liberty. Shortly thereafter, Barrick Gold made an offer to buy the PJV and Liberty's negotiations were put on hold. As part of that deal, Goldcorp is buying the PJV assets from Barrick and Liberty was told in the first week of February 2006 that no decision on the sale of the Bell Creek mill would be made until at least May 2006. The decision to terminate discussions with the PJV/Goldcorp was then made considering the uncertain outcome of the purchase of the mill. link: https://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20060221&archive=nlk&slug=00005042