Lake Shore Gold Corporation (LSG)

[NYBob]

Lake Shore Gold Completes Sale of Mexican Portfolio to Revolution
Resources Corp. for Significant Equity Interest -

http://www.lsgold.com/Investor-Centre/Press-Releases/Press-Release-Details/2013/Lake-Shore-Gold-Completes-Sale-of-Mexican-Portfolio-to-Revolution-Resources-Corp-for-Significant-Equity-Interest/default.aspx

05/09/2013
TORONTO, ONTARIO--(Marketwired - May 9, 2013) -

Lake Shore Gold Corp.
("Lake Shore Gold" or the "Company") (TSX:LSG)(NYSE Amex:LSG)(NYSE MKT:LSG)
has closed its previously announced transaction (see press
release of January 30, 2013) with Revolution Resources Corp.
("Revolution"), pursuant to which the Company transferred to
Revolution control of a subsidiary holding the Company's Mexican
property portfolio, which includes the Universo property and the
Montaña de Oro, La Bufa and Lluvia de Oro properties totalling
over 400,000 hectares in two historic mining regions of Mexico,
and valued on the Company's financial statements at approximately
$2.2 million.

In return, the Company has acquired direct ownership of a total of
20,000,000 common shares of Revolution,
representing 16.8% of the outstanding shares.

Together with shares already held, the Company now owns directly
26,713,740 common shares of Revolution,
representing 22.4% of the outstanding shares of Revolution.

In connection with the transaction, the Company and
Revolution have entered into an agreement which, among other
things, places certain restrictions on the transfer of shares
issued to the Company for a period of 18 months and prohibits
the Company from acquiring additional shares and taking certain
other actions without Revolution's consent for 18 months.

In addition, on closing and through 2014, the Company will have
the right to at least two nominees to the board of directors of
Revolution and the Company will continue to have rights to
appoint one or more nominees depending on its level of ownership
for so long as the Company holds at least 5% of the outstanding
Revolution shares.

Lake Shore Gold acquired the shares for investment purposes and
has no present intention to acquire any additional shares.

Contact Information:

Lake Shore Gold Corp.

2000 - 181 University Ave

Toronto, ON M5H 3M7


Lake Shore Gold Corp.

Tony Makuch

President & CEO

[phone]


Lake Shore Gold Corp.

Mark Utting

Vice-President, Investor Relations

[phone]

http://www.lsgold.com

http://www.lsgold.com/Homepage/default.aspx

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