Lakewood Exploration Reports High Grade Surface Samples, Including 1540 g/t Silver and 6.88% Copper; and 1410 g/t Silver 5.41% Copper at Eliza Silver Project in Nevada

Rhea-AI Summary

Lakewood Exploration (CSE: LWD / OTC: LWDEF) announced promising results from the Eliza Silver project in Nevada, revealing high-grade surface samples that include 1,540 g/t silver and significant copper, lead, and zinc values. The samples were collected from an area near the historic California Mine, which previously yielded a remarkable 25,000 g/t silver sample. President Morgan Lekstrom expressed optimism about these findings, indicating plans for further detailed surface work to establish drill targets later this year. The project is seen as a potential contributor to Lakewood’s goal of becoming a multi-mine silver producer.

Positive

• High-grade silver sample of 1,540 g/t, along with significant copper (6.88%), lead (4.57%), and zinc (7.38%) values.
• Potential for significant mineralization across the Eliza project due to modern exploration technology.
• Plans for further exploration to define drill targets later this year.

Negative

• None.

VANCOUVER, British Columbia, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Lakewood Exploration (CSE: LWD / OTC: LWDEF) (“Lakewood” or the “Company”) is pleased to report high grade surface samples from the Company’s recently acquired Eliza Silver project in Nevada.

A total of 11 samples were collected from the Eliza claim block in an area adjacent to the past-producing California Mine, from which a nearly 25,000 g/t silver sample was collected from surface in 1965, but never followed up.

Highlights from the sampling program include:

• 1,540 grams per tonne (g/t) Silver (Ag), 6.88% copper (Cu), 4.57% lead (Pb), 7.38% zinc (Zn) ( See Figure 2.)
• 1,410 g/t Ag, 0.23 g/t Au, 5.41% Cu, 9.05% Pb, 26% Zn (See Figure 3.)

“We are very pleased with these initial results from our first field program at the newly acquired Eliza Project, which has never before been explored using modern exploration technology or approaches,” stated President, Morgan Lekstrom. “To obtain excellent silver, copper, lead and zinc values from this initial sampling demonstrates the potential for significant mineralization across our property. We will use this information in addition to more detailed surface work, which is currently underway, to define drill targets later this year.”

Qualified Person

Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Lakewood Exploration Inc.

Lakewood Exploration Inc. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company is rapidly advancing towards an initial drill program at Silver Strand with the aim of defining a large silver resource within a belt that has produced more than 1.2 billion ounces of silver to-date. Geologic studies indicate that the Silver Strand Mine is hosted by the Revett formation, suggesting the potential for significant down dip extensions as demonstrated by other major mines in the district. Previous operators were solely interested in developing the known shallow mineralization, with the mine’s lowest level extending only 90 meters below surface. Lakewood strives to become a multi-mine silver producer.

*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

On Behalf of the Board of Lakewood Exploration Inc.

Morgan Lekstrom, President

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
Contact: Kristina Pillon, President, High Tide Consulting Corp.
604.908.1695 / investors@silverhammermining.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has not in any way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/e451ffbe-ab35-4f7f-9085-3a08fc2071a4

https://www.globenewswire.com/NewsRoom/AttachmentNg/920dac62-ddf8-419c-ade2-73985b56de17

https://www.globenewswire.com/NewsRoom/AttachmentNg/57bdd380-2466-4b4d-85e3-c98734d72e46

https://www.globenewswire.com/NewsRoom/AttachmentNg/3b751c60-b7f4-48bd-8d94-7beac1887592

FAQ

What are the recent findings from Lakewood Exploration's Eliza Silver project?

Lakewood Exploration reported high-grade surface samples from the Eliza Silver project, including 1,540 g/t silver and substantial copper, lead, and zinc values.

What is the significance of the historical California Mine related to Lakewood Exploration?

The California Mine, adjacent to the Eliza project, previously produced a notable sample of nearly 25,000 g/t silver, highlighting the area's potential.

What are Lakewood Exploration's future plans for the Eliza Silver project?

Lakewood plans to conduct further detailed surface work and to establish drill targets later this year for potential mineralization.

How does Lakewood Exploration aim to grow as a company?

Lakewood Exploration aims to become a multi-mine silver producer by advancing projects like the Eliza Silver project and Silver Strand Mine.