Lake Shore Gold Increases Interest in Northern Superior Resources Inc.
TORONTO, ONTARIO -- (Marketwire) -- 01/31/11 -- Lake Shore Gold Corp. (TSX: LSG) ('Lake Shore Gold' or the 'Company') today announced that the Company has acquired direct ownership of 6,730,769 common shares of Northern Superior Resources Inc. ('Northern Superior'), representing 3.8% of the outstanding shares, through a private transaction, at a price of $0.80 per common share for a total cost of $5,384,615.
As a result of this transaction, as well as prior transactions, Lake Shore Gold now holds 44,930,769 common shares, representing a 25.5% interest in the common shares of Northern Superior. Lake Shore Gold purchased the securities for investment purposes and may acquire additional securities of Northern Superior in the future.
Contacts:
Lake Shore Gold Corp.
Tony Makuch
President & CEO
(416) 703-6298
info@lsgold.com
Lake Shore Gold Corp.
Mark Utting
Vice-President, Investor Relations
(416) 703-6298
info@lsgold.com
www.lsgold.com