LAK

Lakeside Minerals Inc. (TSX VENTURE:LAK) (the "Company") announces that it has
closed a first tranche of its non-brokered private placement issuing 1,270,000
units (the "Units") for gross proceeds of $63,000 (the "Offering"). The final
closing date of the private placement has been extended to February 5th, 2013. 


Private Placement

The private placement comprised two types of units. Each unit A ("Unit A"),
priced at $0.04 per unit, consists of one (1) common share of the Company (a
"Common Share") and one half (1/2) of one Common Share purchase warrant (each a
"Warrant A"); each unit B ("Unit B"), priced at $0.25 per unit, consists of four
(4) flow-through shares (each a "FT Share"), one (1) Common Share of the
Company, and one (1) Common Share purchase warrant ("Warrant B"). 


Each full Warrant A entitles the holder to acquire one common share of the
Company at a price of $0.06 per Common Share for a period of 12 months from the
closing date, then the exercise price of the Warrant A rises to $0.10 for an
additional 12 months. Each full Warrant B entitles the holder to acquire one
common share of the Company at a price of $0.10 per share for a period of 24
months from the closing date. The terms of both the Warrant A and B are subject
to an acceleration right at the option of the Company, provided that the common
shares of the Company trade at or above $0.20 for a full 20 consecutive trading
days and the Company has provided Warrant holders with 30 days prior written
notice of the accelerated Warrant exercise date.


The Company paid a cash amount equal to 8% ("Finder's Fee") of the gross
proceeds received from the sale of Units B, and finder's warrants ("Finder's
Warrant") equal to 8% of the number of Units B sold under the Offering. Each
Finder's Warrant will be exercisable at $0.25 to purchase five (5) additional
common shares (the "Finder's Shares") and one (1) warrant, which is exercisable
at a price of $0.10 per common share for a period of two (2) years from the
closing date.


The gross proceeds from the FT Units offering will be used for exploration and
development of the Company's properties in Quebec. 


The tranche of the private placement closed on December 27, 2012. The shares to
be issued under the Offering will carry a four-month hold period under Canadian
securities laws from the date of issuance. The Unit A private placement was
conducted pursuant to the "Private Placement - Temporary Relief from Certain
Pricing Requirements" policy of the TSX Venture Exchange.


Completion of the Offering remains subject to receipt of all necessary
regulatory approvals, including approval of the TSX Venture Exchange.


About Lakeside Minerals Inc.

Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing
mineral properties in Quebec. Presently, the company holds a portfolio of
properties located in the Rouyn-Noranda area of northwestern Quebec. These
properties display significant historical gold drill results and have excellent
potential for discovery.


In September 2012, Lakeside consolidated a large land package, the Launay
property, which comprises two hundred and twelve (212) mineral claims covering
95.8 sq km. The Launay property straddles nearly 22 km of the Macamic
deformation zone: a major deformation zone in the Abitibi subprovince located
north of the Porcupine-Destor deformation zone. The property claim blocks cover
several known gold occurrences associated with the Macamic deformation zone:
these gold showings form a trend over 17 km long and several showings display
significant historical gold drill intersections. 


The Launay property land package allows the Company to focus on an extensive
trend of known gold occurrences associated with a major deformation zone in the
heart of the Abitibi subprovince. Large portions of the Macamic deformation
zone, subsidiary faults, and splays remain to be fully explored.


FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news
release may contain "forward-looking information". Forward-looking information
and statements may include, among others, statements regarding the future plans,
costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or
the assumptions underlying any of the foregoing. In this news release, words
such as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and the negative
form thereof are used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. Forward-looking statements
and information are based on information available at the time and/or
management's good-faith belief with respect to future events and are subject to
known or unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond the Company's control. The Company does not
intend, nor does the Company undertake any obligation, to update or revise any
forward-looking information or statements contained in this news release to
reflect subsequent information, events or circumstances or otherwise, except if
required by applicable laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lakeside Minerals Inc.
Mario Justino
President and CEO
info@lakesideminerals.com
www.lakesideminerals.com

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