Lake Shore Gold Corporation

Published : March 31st, 2008

Intersects 8.57 Grams Gold Per Tonne Over 9.00 Metres at the Thunder

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Lake Shore Gold Corp.
TSX:LSG
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March 31, 2008
Lake Shore Intersects 8.57 Grams Gold Per Tonne Over 9.00 Metres at the Thunder Creek Property in Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2008) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") has received additional assay results from the Company's ongoing Diamond drill program on the Thunder Creek property near Timmins, Ontario, including an intersection containing 8.57 grams per tonne gold over 9.00 metres in hole TC07-43.

Lake Shore President and CEO Tony Makuch said: "This new gold intersection at Thunder Creek is located 120 metres down plunge from the 24.61 grams gold per tonne over 7.00 metres intersection previously released in hole TC07-36 and significantly enhances our understanding of this new mineralization and its potential. The width and grade of the zone is very positive and the potential of this discovery continues to be highly prospective. The zone remains open down plunge and is associated with strong alteration and structural deformation. Drilling will continue to further establish the geometry of the new gold zone, and explore additional targets on the property."

The character of the mineralization in TC07-43 correlates with the previously announced Rusk Zone intersection discovery in holes TC07-30 and TC-07-36. This mineralization is open down plunge and drilling will continue to define the extent of this zone. Other significant intersections include 27.21 grams gold per tonne over 0.90 metres, 8.52 grams gold per tonne over 2.05 metres and 6.33 grams gold per tonne over 2.60 metres. Some of the mineralization intersected in the current drilling may represent new mineralized zones within the wide alteration/structural zone being defined on the Thunder Creek property and will be targeted for further drilling.

The Thunder Creek property represents a significant gold exploration target consisting of 58 claim units immediately adjacent to Lake Shore's 100%-owned Timmins West property. A positive pre-feasibility study was recently completed on Timmins West (see news release dated August 28, 2007) and an underground exploration program is currently under way.

The new intersections are located approximately 800 metres southwest of the Timmins West shaft currently being developed as part of Lake Shore's advanced underground exploration program. These intersections represent a new dimension to the Thunder Creek and Timmins West properties andthe potential of this new mineralization could significantly impact Lake Shore's development plans as the Thunder Creek mineralization may be accessible from the Timmins West shaft with minimum additional capital expenses.

Results for the new holes are presented in the table below. Results from four additional exploration holes (TC08-44, -46 AND -48 TO -50) are pending. Drilling will continue to define the Rusk and Syenite zones and will also target new mineralized intercepts discovered in the current program.


Hole           From          To  Length(a)   Gold          Zone      Status
            (metres)    (metres)  (metres) (grams
                                              per
                                            tonne)
---------------------------------------------------------------------------
TC07-34      424.80      431.40      6.60    1.62     Rusk Zone   completed
including    431.00      431.40      0.40   14.10

---------------------------------------------------------------------------
TC07-35      461.40      468.70      7.30    3.79     Rusk Zone   completed
including    466.10      468.70      2.60    6.33

---------------------------------------------------------------------------
TC07-37      314.15      314.45      0.30    1.37     Rusk Zone   completed

---------------------------------------------------------------------------
                                                    Hangingwall
TC07-38      319.75      321.90      2.15    2.16     Volcanics   completed
including    321.45      321.90      0.45    5.48
---------------------------------------------------------------------------
                                                    Hangingwall
TC07-39      271.40      271.70      0.30    4.75     Volcanics   completed

                                                    Hangingwall
             302.25      302.65      0.40    1.36     Volcanics

---------------------------------------------------------------------------
                  no significant
TC07-40                  results                    Exploration   completed

---------------------------------------------------------------------------
TC07-41      508.75      509.80      1.05    3.36     Rusk Zone   completed

             514.90      518.75      3.85    4.72     Rusk Zone
including    514.90      516.95      2.05    8.52

             601.00      602.00      1.00    1.06  Syenite Zone

             609.20      609.70      0.50    1.28  Syenite Zone

             615.25      615.70      0.45    2.51  Syenite Zone

---------------------------------------------------------------------------
TC07-42      206.65      207.05      0.40    1.14   Exploration   completed

---------------------------------------------------------------------------
TC07-43      463.30      492.65     29.35    4.08     Rusk Zone   completed
including    483.65      492.65      9.00    8.57

---------------------------------------------------------------------------
TC07-45      436.70      448.90     12.20    1.24     Rusk Zone   completed
including    443.90      444.30      0.40    9.65

---------------------------------------------------------------------------
TC08-47      284.50      285.40      0.90   27.51     Rusk Zone   completed

---------------------------------------------------------------------------
TC03-             no significant 
06(ext)                  results                    Exploration   completed

---------------------------------------------------------------------------
TC04-             no significant
18(ext)                  results                    Exploration   completed

---------------------------------------------------------------------------
TG04-             no significant
50(ext)                  results                    Exploration   completed

TC08-44, -46 and -48 to 50 are in progress.

(a) Represents measured core intervals as true widths are not known at 
    this time.
    UM/S equals Ultramafic/Syenite host rocks
 
Lake Shore has notified its partner on the project, West Timmins Mining Inc., that it has completed the requirements to vest a 60% option interest in Thunder Creek and the project will move forward as a 60/40 pro-rata funded joint venture between Lake Shore and West Timmins.

Quality Control

Lake Shore has a quality control program to ensure best practices in the sampling and analysis of drill core. Assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than three grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Zones with visible gold are tested by pulp metallic analysis. NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags for preparation at ALS Chemex Prep Lab located in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay Laboratory in Vancouver, B.C. ALS Chemex is an ISO 9001-2000 registered laboratory preparing for ISO 17025 certification.

The Company's Qualified Person ("QP") for the Thunder Creek property is Jacques Samson, P.Geo. As QP he has prepared or supervised the preparation of the scientific or technical information contained in this press release.

About Lake Shore

Lake Shore is a mineral exploration company focused on the acquisition, exploration and development of mineral properties with prospects for hosting economic gold deposits in the Canadian Shield in Ontario and Quebec. The Company holds a number of gold properties and has commenced sinking a shaft on its 100%-owned Timmins West gold deposit near Timmins, Ontario. Lake Shore is a reporting issuer in British Columbia, Alberta, Manitoba, Ontario and Quebec, and trades on the Toronto Stock Exchange under the symbol LSG.

Forward-looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statements.

CONTACT INFORMATION:

Lake Shore Gold Corp.
Meghan Brown
Manager Investor Relations
(604) 685-4644
Email: mbrown@lsgold.com

or

Lake Shore Gold Corp.
Tony Makuch
President and CEO
(416) 703-6298
Email: info@lsgold.com
Website: www.lsgold.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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Lake Shore Gold Corporation

PRODUCER
CODE : LSG.TO
ISIN : CA5107281084
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Lake Shore Gold is a gold producing company based in Canada.

Lake Shore Gold holds various exploration projects in Canada.

Its main asset in production is TIMMINS MINE in Canada and its main exploration properties are BELL CREEK, BLAKELOOK, THORNE, THUNDER CREEK, WEST TIMMINS and BAND ORE in Canada and LA BUFA, UNIVERSO, MONTAÑA DE ORO and LLUVIA DE ORO in Mexico.

Lake Shore Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 956.5 millions as of today (US$ 734.7 millions, € 646.6 millions).

Its stock quote reached its lowest recent point on February 01, 2002 at CA$ 0.02, and its highest recent level on March 11, 2011 at CA$ 4.42.

Lake Shore Gold has 463 220 000 shares outstanding.

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12/29/2011(Thunder Creek)Announces Filing of Thunder Creek Technical Report
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7/29/2011U=2ES=2E Listing on NYSE A =?ISO-8859-1?Q?mex=20Approved,=20...
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6/8/2011Announces Management Appointme =?ISO-8859-1?Q?nts,=20Creates...
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2/1/2011Increases Interest in Northern Superior Resources Inc.
7/22/2010Confirms & Expands Mineral
5/27/2010Completes Sale of 50% Interest in Ti-pa-haa-kaa-ning JV
5/12/2010Changes to Board of Directors
5/5/2010Announces Continued Progress
4/27/2010Expands Resource Potential at Timmins Mine
3/11/20102009 Year End Results
12/17/2009Completes Acquisition of "Bell Creek West" Properties
12/15/2009Announces Management Changes
12/15/2009Added to S&P/TSX Composite Index
11/24/2009Announces Changes to Board of Directors
11/6/2009and West Timmins Mining Complete Business Combination
8/27/2009and West Timmins Agree to Business Combination
8/6/2009Advances Projects on Schedule and Budget and Achieves Explor...
6/24/2009Reports 12.75 Grams Per Tonne Over 83.40 Metres at Thunder C...
5/16/2008Announces Approval of Special Resolutions at Annual and Spec...
5/5/2008Comments on May 15, 2008 Shareholder Vote
4/16/2008Announces Revised Agreement With Hochschild Mining; Second P...
4/16/2008 Announces Management Changes
3/28/2008Announces 2007 Year End Results and Provides 2008 Outlook
3/24/2008Announces Management Changes
3/18/2008Announces Annual Meeting and Revised Date for Special Meetin...
2/25/2008 Completes Financing and Enters Into Strategic Alliance With...
7/17/2007Commences Drilling at Blakelock and Expands its Property Pos...
4/23/2007Completes Due Diligence on Bell Creek Acquisition
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