VANCOUVER, British Columbia, Aug. 23, 2006 (PRIMEZONE) -- Harp Sangha, CEO / President of Douglas Lake Minerals Inc. (OTCBB:DLKM), announced the appointment of Richard Radez as Chairman of the company's advisory board. Stated Sangha "Rich has spent the last three decades as one of North America's most prominent resource company investment specialists. Leaving a successful career as a top industry investment advisor to commit his time to Douglas Lake Minerals is truly a validation that our Royalty-based exploration and development company is on the right course for success. We are very honored to have him chair our Advisory Board."
Rich Radez Witnesses Local Gold Rush
When asked about the future of Douglas Lake Minerals, Rich Radez commented, "The fact that I left my job to join Douglas Lake Minerals speaks volumes on how I feel about the company's future. In the past six months, I made two trips to Tanzania to visit the first five properties that DLKM acquired. I have personally picked up rocks from these properties that had visible gold and assayed at three ounces per ton. When you witness first-hand 'real gold rushes' with hundreds of locals pulling gold out of the ground, and with new villages springing up overnight around a mine site, you can't help but get excited. I have been on more than 300 mining properties in my career and have never seen anything like this."
Rich went on to say, "With properties like this, Douglas Lake Minerals has serious potential to be a significant player in the global mining market. And the fact that the company will soon own 100% of 33 mining properties is mind-boggling."
Top Natural Resource Stock Guru
Rich spent 30 years in the brokerage industry recommending clients invest 10% of their portfolios in natural resource related investments to hedge against worldwide political and economic uncertainties. He founded and is president of the International Association of Natural Resource Brokers, and is president of the Radez Investment Group. Rich was recently elected the Indianapolis Stock and Club Member of the year. He is a graduate of Purdue University and the Wharton Business School S.I.A. Forum. David Tice, Manager of the Prudent Bear Fund, called Radez "One of the Top Natural Resource Stock Gurus in the industry today."
The Personal Side of Rich Radez
In 1975, he started the Walk Jog Run for the American Heart Association at the Indianapolis 500-mile Race Track. This event has become the prototype for all fund raising jog-a-thons in the world today. Rich and Senator Dick Lugar were the co-founders of The Indianapolis Jogging Club. In 1985, he raised funds and built the first public playground for the handicapped in the United States, located in Indianapolis, Indiana. He has been an AAU basketball coach for 20 years, and teams he has coached have won four national championships. A number of these former players are now in the N.F.L. and N.B.A. In 1989, he successfully completed the Vermont 100 mile Mountain Endurance Run and is a founding member of the Indy Mini-Marathon, the largest half marathon in the country.
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About Douglas Lake Minerals, A Royalty-Based Company
Our vision at Douglas Lake Minerals is to focus 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. We are exploring and developing our 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 our royalty partnerships (www.douglaslakeminerals.com).
NOTE: No Exchange has either approved or disapproved the information contained herein. This news 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 risk factors beyond its control; and actual results may differ materially from expected results. The Company will not update forward-looking statements as conditions change. Factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's quarterly and other periodic filings with the SEC.