Lucky Strike Resources Ltd. Announces - Western Athabasca Syndicate Commences Winter Drill Program at Preston Property in the...

Lucky Strike Resources Ltd. (TSX VENTURE:LKY)(OTCQX:LKYSF) ("Lucky Strike") is
pleased to announce that the Western Athabasca Syndicate (the "Syndicate") has
commenced its inaugural diamond-drilling program on its flagship Preston Uranium
Property (the "Property") in the southwest Athabasca Basin. Three initial target
areas, out of a growing target base currently standing at fifteen, were selected
by the Syndicate's Technical Committee for immediate drilling based on
encouraging fieldwork results and coincident anomalies from ground gravity,
airborne and ground EM and magnetics (graphitic conductors and structures),
radon, soil, biogeochem, lake sediment, and geological mapping surveys. This
drill campaign represents the first modern-day drill exploration program on the
Preston Uranium Property.


Preston Lake Property Map and Regional Exploration Corridors 

http://skyharbourltd.com/_resources/SYH_Regional_Corridors.jpg

Approximately 2,000 metres of drilling by way of 10 to 15 holes with depths of
100 - 250 metres is expected to be completed at the Swoosh, CHA and Fin South
areas during the current campaign. Based on regional data compilation, depth to
the top of the target zone (top of basement rock) is expected to be relatively
shallow, ranging from 25 metres to 75 metres across the three initial target
areas.


The majority of the work in this drill campaign will be focused on the Swoosh
target where five separate drill pads will test a combination of EM conductors,
complex structures, gravity lows, anomalous geochemistry and elevated radon
values. This target is a high-priority area given the coincident geological,
magnetic, EM, gravity and radon anomalies that are evidence of strong fluid
interaction and potential uranium mineralization as seen at other recent
discoveries in the region.


Preston Property - Swoosh Target Map

http://skyharbourltd.com/_resources/maps/SYH_Swoosh_Drill_Locations.jpg

In addition to the Swoosh target area, the CHA and Fin South drill targets also
represent high-potential exploration prospects given the presence of coincident
anomalies and indicators similar to those seen at the Swoosh target and at other
discovery areas in the Athabasca Basin. Preliminary drilling at both these two
target areas is incorporated into the current design of the drill program.
Management cautions, mineralization present on proximal properties is not
necessarily indicative of mineralization on the Syndicate's Property.


The Preston Uranium Property

The 246,643 hectare Preston Uranium Property is the largest individual property
proximal to Fission Uranium Corp.'s Patterson Lake South ("PLS") high-grade
uranium discovery and the recent discovery made by NexGen Energy on the Rook 1
Project (see NexGen's news release dated Feb. 19, 2014). The Syndicate is the
largest land tenure holder in the southwest Athabasca Basin region including
properties strategically situated to the southwest and to the northeast of the
PLS and NexGen discoveries.


Over $2 million dollars has been invested in exploration to date by the
Syndicate on the Preston property and many priority targets remain for further
follow up with both fieldwork and drill testing. The Syndicate continues to
employ a systematic, proven exploration methodology that has led to numerous
uranium discoveries in the region and throughout the Athabasca Basin. This has
been very effective in identifying numerous high-quality targets at Preston with
similar geological features and exploratory indicators as those at the nearby
PLS and NexGen discoveries as well as other deposits in the Athabasca Basin.


The Athabasca Basin

The Athabasca Basin of Saskatchewan hosts the world's largest and richest
high-grade uranium deposits which have grades substantially higher than the
world average grade of about 0.1% U3O8. The Patterson Lake area has received
escalating exploration attention and claim acquisition activity as a result of
the new, near surface discoveries made by Fission which includes the recently
reported drill interval of 38.49% U3O8 over 10.5 metres in drill hole PLS14-129.
Consistent high-grade, near surface U3O8 assays from Fission demonstrate the
potential for high-grade uranium mineralization on the geologically prospective
yet underexplored margins of the western side of the Athabasca Basin.


Further to the Company's earlier news releases dated February 19 and March 13,
2014, the Company is pleased to announce it has received TSX Venture Exchange
approval for and closed the first tranche of a private placement in respect to
200,000 flow-through units (the "FT" Units"), at a price of $0.10 per FT Unit,
and 4,555,000 non-flow-through units (the "NFT" Units"), at a price of $0.08 per
NFT Units, to raise proceeds of $384,400.


Each FT Unit consists of one flow-through common share and one-half of one share
purchase warrant, each full warrant entitling the holder to purchase one
additional common share, at $0.15 per share, until March 14, 2016. Each NFT Unit
consists of one non-flow-through common share and one share purchase warrant,
each warrant entitling the holder to purchase one additional common share, at
$0.13 per share, until March 14, 2016. If the trading price of the Company's
shares on the TSX Venture.


Exchange for 20 consecutive trading days equals or exceeds $0.35 per share
during the expiry time of the warrants shall be accelerated such that the expiry
time will be 30 calendar days from the date of express written notice sent by
the Company to the holder by way of registered mail.


In connection with the first tranche of the private placement, the Company has
agreed to pay finders' fees in cash in the amount of $25,312 and by the issuance
of 368,450 finder's warrants on the same terms as the warrants contained in the
NFT Units


Ron Rieder and Allen Morishita (indirectly through two private companies)
participated in the private placement of NFT Units by subscribing for an
aggregate of 650,000 NFT Units for aggregate proceeds of $52,000. The
participation by such directors is considered a "related party transaction" as
defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is
exempt from the formal valuation and minority shareholder approval requirements
under MI 61-101 as neither the fair market value of the common shares issued to,
nor the consideration paid by, the related parties exceeded 25% of the Company's
market capitalization.


The Company did not file a material change report more than 21 days before the
expected closing of the FT Unit and NFT Unit private placement as the details of
the private placement and the participation by the related parties were not
settled until shortly prior to closing and the Company wished to close the
private placement on an expedited basis for business reasons.


All of the shares and warrants, and any shares issued upon exercise of the
warrants comprising the FT Units, NFT Units and finder warrants, are subject to
a hold period and may not be traded in Canada until July 15, 2014, except as
permitted by applicable Canadian securities laws and the TSX Venture Exchange.


The Company is also pleased to announce it has received TSX Venture Exchange
approval for and closed the loan facilities agreement with Jordan Capital
Markets Inc., as to $75,000 and Jordan Ventures Ltd., as to $125,000. The loans
have a term of 90 days, carry a rate of interest of 12.00 per cent per annum and
are secured by promissory notes in the principal amount of the loans, as well as
a general security agreements executed by the company granting the lender
security over all present, and after acquired real and personal property of the
company. The lender has the right to convert all or any portion of the loans
that are outstanding, at any time, into units of the company upon providing the
company with three business day's written notice at a price of $0.09 cents per
loan unit. Accrued and unpaid interest on the loan may be converted into loan
units at any time by the lender at a price equal to the closing price of the
company's shares on the date of delivery of any notice to convert by the lender
to the company. Each loan unit will comprise one share and one non-transferable
share purchase warrant of the company, entitling the holder to purchase one
common share of the company for a period of two years from the date of issuance
of the loan warrant at a price of $0.12 cents per loan warrant share, subject to
the same acceleration clause as the warrants (outlined above).


The lender and the company have agreed that the lender may not convert the
loans, or any accrued and unpaid interest on the principal amount of the loans,
into a number of loan units which, assuming the immediate exercise of all loan
warrants comprising such loan units, would cause the lender to be the registered
owner of greater than 10 per cent of the then-issued and outstanding shares of
the company. Both notes are due on June 12th, 2014.


In connection with the loan, the company has entered into a Corporate Finance
Advisory Agreement with Jordan Capital Markets (Jordan). In payment of the
services to be rendered herein, the Company paid to Jordan an engagement fee of
$15,000 plus Goods and Services Tax and issued Jordan 150,000 common shares in
the capital of LKY. The term of this agreement is 2 months.


All of the shares and warrants, and any shares issued upon exercise of the
warrants comprising the units converted by the lender into shares of the
Company, are subject to a hold period and may not be traded in Canada until July
15, 2014, except as permitted by applicable Canadian securities laws and the TSX
Venture Exchange.


The proceeds of the Offering will be used for the exploration of the Patterson
Lake Area in the Athabasca Basin region of northern Saskatchewan and for general
working capital.


Lucky Strike Resources

Lucky Strike Resources Ltd., is an exploration company with an option to earn a
25% interest in approximately 700,000 acres of prospective land between five
properties in the Athabasca Basin of northern Saskatchewan.


The Company has 49,836,836 shares outstanding. To find out more about Lucky
Strike Resources Ltd. (TSX VENTURE:LKY) visit the Company's website at
www.luckystrikeresources.com.


Qualified Person:

Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo., is the Qualified
Person as defined by National Instrument 43-101 and has approved the technical
information in this release.


On behalf of Management

Lucky Strike Resources Ltd.

Ronald A. Rieder, CEO, President & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts 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 Toronto Venture Exchange, the British Columbia Securities Commission
and the US Securities and Exchange Commission.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lucky Strike Resources Ltd.
Ronald A. Rieder
President and CEO
604-681-8225
www.luckystrikeresources.com


D.A.Huston & Associates
Derek Huston
604-657-5539
[e-mail]
[e-mail]