Company Information for Douglas Lake Minerals Inc

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OTCBB; DLKM View full financial data

Company Statement

Douglas Lake Minerals (DLKM) is focused on exploring and developing gold, copper, nickel, uranium and diamond mining opportunities in Tanzania, a country with vast amounts of undeveloped mineral-rich natural resources.

DLKM’s vision is to explore and develop its large portfolio of prospecting concessions through royalty-based joint venture partnerships. Our strategy is to provide investors with considerable upside potential while minimizing future shareholder dilution through these royalty partnerships.
 
To take advantage of Tanzania’s rich natural resources, DLKM has acquired 33 prospecting concessions, and is in negotiations on over 80 additional concessions. DLKM’s first five concessions cover an area of more than 1,000 square kilometres, with some properties already at an advanced stage of exploration.

Current Operations

DLKM has acquired five prospecting concessions for properties in Tanzania that cover an area of approximately 1,037.4 square kilometres. The company has purchased 100% of the mineral concession rights to these properties, all of which are easily accessed by paved highways and secondary roads, and transected by numerous tertiary roads. To explore and develop these properties, management has decided to structure DLKM as a “Royalty Management Company” and will be joint-venturing with well-capitalized junior mining companies to explore and develop these concessions. DLKM is also in negotiations to option over 100 additional concessions in mineral-rich Tanzania.

The first five concessions – Morogoro, ASW, Kilometre 7, Negero and Tabora – are all located along a newly discovered gold zone in the central eastern part of Tanzania. To date, mineralization in this zone has been traced by local artesian miners for over 100 kilometres and occurs in Proterozoic highly metamorphic rocks adjacent to the central Tanzanian Archean Craton. The positioning of the known gold occurrences, which exist as both alluvial and in situ rock settings, suggests a structural context and has been classed as a structurally controlled type of mineralization. DLKM has conducted initial geological prospecting that is being followed by a work program of grid establishment, geochemical soil sampling, geophysical surveying by magnetics and geological mapping.

Morogoro Property
The Morogoro Property is located approximately 30 kilometres west of Morogoro. The property's northeast corner extends approximately 26 kilometres to the west and 6 kilometres to the south. Gold has been discovered on the property currently 150 local artisan miners are reportedly producing 100-150 gms of gold a day.

ASW (Ashanti South West) Property
The ASW Property (Prospecting License No. 3117/2005) is located 135 kilometres north of the city of Morogoro in east central Tanzania, and is directly adjacent to AngloGold Ashanti's main property. It covers approximately 40 kilometres of the structural zone to the east and six to 15 kilometres to the south.

Kilometre 7 Property
The Kilometre 7 Property (Prospecting License No. 3118/2005) is located 165 kilometres north of Morogoro and approximately 25 kilometres east of Anglo Gold Ashanti’s property. It covers approximately 17 kilometres of the structural zone to the east and nine kilometres to the south.

Negero (Green Hills) Property
The Negero (Green Hills) Property (Prospecting License No. 2957/2005) is located approximately 150 kilometres north northeast of Morogoro and covers approximately 20 kilometres of the structural zone to the east and 10 kilometres to the south. The property is located 75 kilometres east of Anglo Gold Ashanti’s property.

Tabora and Ashanti South East Properties
The company has also signed agreements to acquire the Tabora Property (Prospecting License No. 2810/2004) and the Ashanti South East Property (Prospecting License No. 2683/2004).

Geographical Spread

Tanzania

Board of Directors and Key Management

Honorable Joseph Rugumyamheto - Chairman of the Board

Harp Sangha - CEO/President and Director

Toni Bold-de-Haughton - Chief Financial Officer and Director

Gus Sangha - Director

Company Address 403 - 1445 West Georgia St. , V6G 2T3 Telephone: 604-669-0323 Facsimile: 604-669-3645 Email: craig[at]whalercapital.com Website: http://www.douglaslakeminerals.com

Capital fully diluted - 36,080,072

Major Shareholders

Harp Sangha President CEO - 9%

55% of the issued and outstanding stock is owned by either Tanzanian private corporations or individuals who have been the property vendors to Douglas Lake.

Related News

24/11/08 - Douglas Lake Moves To The Assay Stage At The Multi-Million Ounce Mwembkuru Project, But The Chinese Hold The Whip Hand On Funding
03/07/08 - Douglas Lake Minerals Set To Be The Conduit For Millions Of Dollars To Flow Into Tanzania From China
03/01/08 - Douglas Lake Minerals Stays the Course Through A Tough Year
13/02/07 - Douglas Lake Minerals Hedges Its Bets In Tanzania

Most Recent Statement

27/05/08 - Douglas Lake Minerals, Inc. is approved for trading on the "Open Market" Segment of the Frankfurt Stock Exchange
31/03/08 - Chinese Institute of Geology and Mineral Resources To Visit Douglas Lake Minerals’ Properties
05/12/07 - Douglas Lake Minerals Update -- Portfolio of Tanzanian Mining Concessions Grows to 51
12/11/07 - Douglas Lake Minerals Signs MOU with Chinese Mining Institute
29/10/07 - Douglas Lake Minerals Commences Diamond Exploration on Magembe Property
01/08/07 - Douglas Lake Minerals Options Two Gold Properties for $500,000, Stock and $2.5 Million Work Program Expenditure