News ReleasesJune 23, 2005
Lysander Adds Claims to Its Osilinka Project
Lysander Minerals Corporation (the "Company") is pleased to announce that it has acquired, by staking, the Kim 1 - 7 claim blocks which cover an aggregate 2,674 hectares. These claims are adjacent to, on its western boundary, the Company's 100% owned Osilinka Project located in north-central British Columbia. Due to the dramatic increase in recent staking activities in the area, the Company felt compelled to acquire these additional claims to further solidify its land position.
Lysander is also pleased to announce that it has commenced its 2005 exploration season at the Osilinka Project. A crew has been mobilized and a camp established. Based upon the results of exploration work undertaken in 2004 and the discovery of two additional zones of interest, Lysander has started its initial program, anticipated to cost approximately $400,000, which will include: geochemical survey and 3DIP geophysical survey to further define drill targets; and, roughly, 2,000 metres of diamond drilling. The initial drill program is expected to commence mid-August. Exploration work will be conducted on the North Zone, the Southeast Zone and the Bet Zone.
In early January 2005, the Company completed the non-brokered private placement announced on December 8, 2004, issuing 500,000 units comprised of one common share and one share purchase warrant. Each share purchase warrant entitles the holder thereof to purchase one additional common share from the Company's treasury at a price of $0.25 until December 22, 2005. Shares issued pursuant to the private placement were subject to a four-month hold period which expired on April 22, 2005. The proceeds from this private placement, combined with the Company's existing treasury, will be used to fund the Company's 2005 exploration program on the Osilinka Project.
On behalf of the Board,
Donald K. Mustard
President and Director
For further information please contact Larry Myles, Shareholder Communications at 604-408-7600 and visit the Company's website at www.lysandercorp.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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