Douglas Lake Minerals Inc DLKM

Douglas Lake Identifies Several Gold Bearing Shear

[nervous_norris]

Douglas Lake Identifies Several Gold Bearing Shear Structures Parallel the Magambazi Gold Trend

Douglas Lake Minerals Inc., further to its news releases of November 23, 2010, is pleased to provide an update for its exploration targets for 2011.

Douglas Lake has recently filed a NI 43-101 Technical Report on its four100% owned prospecting licenses which cover 800 square kilometers inthe Handeni District of eastern Tanzania. This area recently has beenrecognized as an important gold district after the Magambazi gold find.

The 43-101 report details the first and second phases of explorationover the license area. In the Company's November 23rd release it wasdisclosed that the first phase airborne geophysical survey effectivelyoutlined the folded and faulted geologic terrain as well as fiveprominent Northwest-Southeast trending shear zones that extend throughthe Douglas Lake ground. The second phase work program concentrated oncollecting and analyzing soil geochemical samples on both detailed gridsas well as reconnaissance style control lines across the large projectarea.

Historically, the region has seen only small-scale artisanal workingswhich originally allowed explorers to focus on the Magambazi prospect.Now the Handeni region is recognized to be one of the prime explorationtargets for gold in Tanzania. On September 13th 2010, Canaco ResourcesInc. (TSX.V CAN) announced that regional soil sampling had outlined atotal of two North-Westerly parallel trends of gold mineralization ontheir license area. The two trends, which include the Magambazimineralization, are said to have a combined strike length of 15kilometers.

Within the second phase of work, outlined in Douglas Lakes' 43-101report, portions of the five northwest-southeast shear zones were testedby widely spaced soil sample profiles. The results indicate linearanomalous gold trends in soil that are coincident with theNorthwest-Southeast structures as outlined by geophysics. In total, thesoil program was successful in outlining gold trends that have acombined strike length of over 40 kilometers on the Douglas Lake ground.

"The Handeni Gold Trend that was initially reported by Canaco has beensignificantly extended by the work on the Douglas Lake ground", reportsHarp Sangha CEO. "Our results indicate that there is a lot more to thisarea."

[stockarchangel]

In other words, the gold trend from CAN's reported targets goes diagonally into DLKM's property. Drill, baby, drill!"Within the second phase of work, outlined in Douglas Lakes' 43-101 report, portions of the five northwest-southeast shear zones were tested by widely spaced soil sample profiles. The results indicate linear anomalous gold trends in soil that are coincident with the

[ThisBSagain]

i tend to agree...But i'm really not happy about this pink sheet BS..  OTCBB is one thing, but the pink sheets is a very bad joke.

[stockarchangel]

We're not quite sure what happened yet. As of early last week, this was a fully reporting OTCBB company. I don't believe DLKM was sanctioned in any way. There are no SEC or exchange bulletins to that effect. I'm suspecting it might be a voluntary move. In any case, DLKM still has to follow the same rules as any TSX company because they are domiciled in Vancouver. Quite frankly, it

[Egyptian]

I agree with you about the OTCBB, I am in Canada and I really have reason to sell about 30% of my DLKM shares, The Canadian dollar is rising against the US$ now and the bank is charging a lot, not just the spread, I was under impression that the bank will charge me the spread only, according to the price of Canadian $ yesterday plus whatever the broker charge to convert from US to Canadian you

[traveller180]

First and foremost, please understand that this is STRICTLY my own opinion and in no way should replace any research or investment strategy you have.My thought on DLKM and RBYC is that any SP under $1.00 (US) is still a good SP. It has been a little frustrating for me also with my investment strategy that pertains to OTC stocks, however, I am reminded by reading the posts on this board that these