VANCOUVER, British Columbia, May 8, 2006 (PRIMEZONE) -- Douglas Lake Minerals (OTCBB:DLKM) and Canaco Resources Inc. (TSX-V:CAN) are pleased to announce the engagement of Mr. Denis Dillip, B.Sc. Hons. as Consulting Geologist to act as project geologist for the Companies' exploration initiative in Tanzania under the strategic alliance with Douglas Lake Minerals.
Mr. Dillip is a professional Geologist with work experience in gold exploration from the Archean Greenstone and Proterozoic belts of Tanzania. Mr. Dillip graduated with a B.Sc. in Geology from University of Dar es Salaam in 2000. In 2001 he was engaged as Mine Geologist at Anglo Ashanti's Geita Gold Mine, the largest gold mine in east Africa. In 2004 Mr. Dillip served the Anglo Gold Ashanti Exploration team as Project Geologist managing two projects, The Mkurumu and Njoge Gold Projects located in Proterozoic Pan African Mobile Belt of Tanzania.
"Both companies are pleased that Mr. Dillip has agreed to work with them in developing what we believe is a significant opportunity for Canaco and Douglas Lake in Tanzania," said Andrew Lee Smith, Canaco's Chairman and CEO. "Mr. Dillip's experience in mining geology and in leading exploration projects establishes Canaco's technical presence in Tanzania and will allow the Company to initiate exploration activity immediately."
Douglas Lake Minerals is a junior mineral exploration company listed on the NASD OTC Bulletin Board of the United States of America. The company has mineral exploration properties in Canada and Tanzania and continues to investigate several potential exploration projects in Africa.
Canaco Resources is an emerging junior gold exploration company trading on the TSX Venture Exchange. The Company is actively engaged in the acquisition of gold exploration and development projects.
Canaco: The Company relies on litigation protection for "forward-looking" statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
Douglas Lake Minerals: No Exchange has neither approved nor disapproved of the information contained herein. This press release many contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. The Company does not expect to update forward-looking statements continually as conditions change. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's quarterly filings with the SEC and other periodic filings.