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Douglas Lake Minerals Commences Diamond Exploration on Magembe Property

Posted on: Tuesday, 30 October 2007, 21:00 CDT

Harp Sangha, CEO/President of Douglas Lake Minerals (OTCBB:DLKM), announced today that their partner Canaco Resources has initiated Phase One Exploration of their Magembe Diamond Project located in the Shinyanga district of northwestern Tanzania.

"Canaco has started exploration to evaluate indicated diamond potential from both alluvial and kimberlite sources," stated Harp Sangha. "The program will follow-up on the reconnaissance scale exploration completed earlier in 2007. That initial work consisted of data compilation, remote sensing, geological mapping and prospecting, and was successful in identifying geological environments favourable for hosting surficial and bedrock diamond deposits."

SIGNIFICANT POTENTIAL

Enthusiastic about this new program, Harp Sangha stated, "With all the local artisanal mining activity, we believe there's considerable potential for a commercially profitable diamond mine. These local miners are already active and recovering diamonds from surface alluvial deposits on the western boundary of our Magembe property. The Phase One exploration program will evaluate the concentrations of recoverable diamonds from alluvial material through systematic bulk sampling and processing. On the northern part of the property, regional geophysical data indicate the presence of four unexplored kimberlite targets with magnetic expressions similar to the Williamson kimberlite."

The execution of the Magembe program is under the supervision of Andrew Lee Smith, P.Geo., who is a qualified person as defined by National Instrument 43-101.

LOCATED NEXT TO DE BEERS' WORLD-CLASS WILLIAMSON MINE

The Williamson Mine is currently owned 75% by De Beers and 25% by Tanzania and has produced over 20 million carats since 1940. The Williamson pipe covers 360 acres, and at the time of its discovery, was considered the largest economically exploitable pipe in the world. It is renowned for being the original source of pink diamonds and has produced notable stones including a 54 carat flawless pink diamond and a 388 carat diamond found in 1990.

ABOUT DOUGLAS LAKE

DLKM is an emerging mineral exploration company focused on exploring and developing gold, copper, nickel, uranium and diamond mining opportunities in Tanzania. DLKM has a portfolio of 51 prospecting concessions and is negotiating to acquire an additional 80. For more information go to www.douglaslakeminerals.com.

This release contains forward-looking statements which involve risks and uncertainties. Complete forward-looking statement available at www.douglaslakeminerals.com/forwardlooking.html.

Source: Business Wire

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