LKY Lucky Minerals Inc

Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY)
has received three bids from drilling companies in Mongolia to perform a 1,500 m
due diligence drilling on the CN Coal Properties, and expects to commence due
diligence drilling in August 2011. This announcement is further to the Company's
news release dated July 11, 2011, in which Lucky Strike announced that it has
signed definitive agreements to acquire an 80 percent interest in the CN Coal
Properties subject to the completion of legal and technical due diligence and
acceptance by the TSX Venture Exchange.


The 1,500 m drilling program forms part of the technical due diligence to twin
drill holes and to carry out a limited number of step-out holes to test the
potential of the summary table of coal inventory titled 'Mongolian Coal Basins
and Deposits', in a document referenced by Norwest Corporation as stated in our
July 18, 2011, news release, stating the potential coal tonnage within and
surrounding the CN Coal Properties, including licensed and non-licensed areas in
the vicinity, is estimated to contain Mongolian P1 resources of 232 million
tonnes, P2 resources of 1,017.9 million tonnes and P3 resources of 271.4 million
tonnes for a total of 1.52 billion tonnes historical resource. A qualified
person has not done sufficient work to classify the historical estimate as
current mineral resources; the Company is not treating the historical estimate
as current mineral resources and the historical estimate should not be relied
upon.


The Company expects to commence due diligence drilling in August 2011. In
addition to drilling, the technical work will include downhole wireline logging
and a magnetic ground survey. The award of the work will be subsequent to the
review of the bids from the three bidders and the assurance of quality
assurance/ quality control (QA/QC) of the bidder's drilling capabilities in
accordance with National Instrument (NI) 43-101. In addition, Lucky Strike and
its technical consultants will outline the sampling procedures and review the
assay laboratories in Ulaanbaatar in preparation to receiving samples from the
due diligence drilling work.


Edwin Ullmer, P. Geo., a Qualified Person as defined by National Instrument
43-101 and an independent consultant of the Company, has read and approved the
technical and scientific information contained in this news release.


ON BEHALF OF LUCKY STRIKE RESOURCES LTD.

Cathy Fong, P.Eng, Chairman & CEO

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.


This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking statements include, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things as
the completion of the acquisition of the properties described above, potential
future exploration activities on such properties, the completion of technical
reports in respect of such properties, future business strategy, competitive
strengths, goals, expansion, growth of the Company's businesses, operations,
plans and with respect to exploration results, the timing and success of
exploration activities generally, permitting time lines, government regulation
of exploration and mining operations, environmental risks, title disputes or
claims, limitations on insurance coverage, timing and possible outcome of any
pending litigation and timing and results of future resource estimates or future
economic studies.


Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "planning", "planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.


Forward-looking statements are based on a number of material factors and
assumptions, including the results of the Company's due diligence investigations
in respect of the transaction, that the Sellers perform their obligations under
the Definitive Agreements, receipt of all necessary regulatory approvals,
including that of the TSX Venture Exchange, the result of drilling and
exploration activities, that contracted parties provide goods and/or services on
the agreed timeframes, that equipment necessary for exploration is available as
scheduled and does not incur unforeseen break downs, that no labour shortages or
delays are incurred, that plant and equipment function as specified, that no
unusual geological or technical problems occur, and that laboratory and other
related services are available and perform as contracted. Forward-looking
statements involve known and unknown risks, future events, conditions,
uncertainties and other factors which may cause the actual results, performance
or achievements to be materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
interpretation and actual results of current exploration activities; changes in
project parameters as plans continue to be refined; future prices of minerals;
possible variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted parties to
perform; labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the company's publicly filed
documents. Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.

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