SEC Filing...SECTION 7 - REGULATION FD
Item 7.01 Regulation FD Disclosure
On June 16, 2009, in compliance withthe securities laws of the Province of British Columbia, Douglas LakeMinerals Inc. (the "Company") issued a news release announcing that ithas received a project review report respecting the Company's MkuviaGold Placer Property (the "Property"), located in Tanzania. The report,dated May 27, 2009, was prepared by an independent consultant andregistered member of the Australian I.M.M. The report details thepreliminary surveying work on the Property and outlines certainmineralized material defined by the Stage 1 pitting and sampling in theMatandani prospect (of the Mwemkuru River headwater area).
Although the disclosure concerningthe mineralized material is recognized and required by Canadianregulations, the United States Securities and Exchange Commission doesnot permit it as the category of mineralization disclosed is subject toa great amount of uncertainty as to its existence, and as to itseconomic and legal feasibility. It cannot be assumed that all or anypart of such mineralized material will ever be converted into mineralreserves, and there is no assurance that any part of the mineralizedmaterial defined with respect to the Property exists, or iseconomically or legally mineable. Accordingly, the Company's newsrelease was disseminated only in Canada, and was filed with the BritishColumbia Securities Commission on June 16, 2009, via the System forElectronic Document Analysis and Retrieval (SEDAR) maintained by CDSInc. on behalf of the Canadian Securities Administrators.
The report does not comply withCanadian National Instrument 43 101 Standards for Disclosure of MineralProjects and its Companion Policy ("NI 43 101"). NI 43 101, as itapplies to the Company, provides that written disclosure publicly madeby a company of a mineral reserve, mineral resource or preliminaryassessment relating to a mineral property material to the Company mustbe supported by a technical report filed with the British ColumbiaSecurities Commission (the "Commission") in accordance with therequirements of NI 43 101. Accordingly, the Company has undertaken tothe British Columbia Securities Commission to file a NI 43-101compliant technical report on the Property via SEDAR within 45 days. Itis anticipated that the technical report will also include disclosurethat is not permitted by the Securities and Exchange Commission, andthat it therefore will not be filed on EDGAR.
The information in Item 7.01 of thisreport is being furnished pursuant to Item 7.01 of Form 8-K and GeneralInstruction B.2 of Form 8-K. Such information shall not be deemed"filed" for purposes of Section 18 of the Securities Exchange Act of1934, as amended, or otherwise subject to the liabilities of thatsection, nor shall it be deemed incorporated by reference in any filingunder the Securities Act of 1933, as amended.