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VANCOUVER, Dec. 30, 2014 /CNW/ - Lakeland
Resources Inc. (TSXv: LK; FSE: 6LL; OTCQX: LRESF) (the
"Company") is pleased to announce that it has entered into an
option agreement with Takara Resources Inc. ("Takara") where Takara
can acquire a 50% interest, subject to TSX Venture Exchange
("Exchange") acceptance, in the Fond du Lac Property (the
"Property"), located in the northern Athabasca Basin region, Saskatchewan.
The Property consists of one mineral claim, and is 2,827 hectares
in size.
The property is situated at the margin of the Athabasca Basin where the depth to the
unconformity is relatively shallow. The historic and recent
exploration has identified the presence of an optimal geological
setting for the formation of unconformity-style
mineralization. Historic exploration was conducted in the
1976 to 1984 era by a Saskatchewan Mining and Development
Corporation (SMDC) and Urangesellschaft Canada Ltd.
Exploration consisted of regional airborne and geochemical surveys,
followed by detailed ground EM, magnetic and gravity surveys and
drilling of one hole in 1984.
Takara has the right to earn a 50% interest in the Property by
issuing 1,500,000 common shares to Lakeland on the closing date of
the transaction and by spending $100,000 on exploration on the property and by
issuing an additional 250,000 shares by June
1, 2015. The property is subject to a 1.5% NSR to the
original vendor. The purchase option agreement is subject to
Exchange approval.
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 uranium and mineral exploration
company focused on the Athabasca
Basin in Saskatchewan, Canada,
home to some of the world's largest and richest high-grade uranium
deposits. The Company is well funded to carry out its near term
exploration programs.
On Behalf of the Board of Directors
LAKELAND RESOURCES INC.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@lakelandresources.com
Web: http://www.lakelandresources.com
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 for example include
the proposed use of proceeds; incurring of qualified exploration
expenditures and any references to future drilling or exploration
programs.
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.
SOURCE Lakeland Resources Inc.