TORONTO, ONTARIO--(Marketwired - July 22, 2014) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company" or "Lago Dourado") has closed the previously announced sale of its Juruena and Novo Astro Projects to Crusader Resources Ltd. (ASX:CAS) ("Crusader"). Consideration for the sale is C$650,000 cash and up to 2,000,000 ordinary shares of Crusader ("Crusader Shares") as outlined in further detail below. The sale was approved by an overwhelming majority by Lago Dourado shareholders at the Company's Special Meeting of Shareholders held on June 25, 2014. Moving forward Lago Dourado will be focused on acquiring or joint venturing new projects in the mining space at a time when a significant number of opportunities are presenting themselves due to the recent downturn in the industry.

As per the sale agreement, share consideration of up to 2,000,000 Crusader Shares are issuable as follows and are subject to a voluntary escrow of 12 months from completion:

  • 500,000 Crusader Shares upon completion of the Transaction; and

  • 750,000 Crusader Shares upon definition of a JORC compliant gold resource of at least 400,000 ounces greater than 10g/t Au in the Indicated category within 5 years of completion; and

  • 750,000 Crusader Shares upon gold production at an annual rate of at least 20,000 ounces of gold over a 90 day period within 5 years of completion.

About the Company:

Lago Dourado Minerals Ltd. is a Canadian based exploration company focused on the acquisition and advancement of mineral exploration projects.

For further information about the company, please visit or

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur, including the closing of the Transaction. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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.

Contact Information:

Forbes Gemmell
President and Chief Executive Officer
Tel: (416) 368-5005