LKY Lucky Minerals Inc

Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY)
has awarded Elgen LLC drilling company to perform a 1,500 m due diligence
drilling program on the CN Coal Properties with the camp setup and mobilization
of equipment to commence on August 10. This announcement is further to the
Company's news release dated July 11, 2011, in which Lucky Strike announced that
it had 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.


Lucky Strike expects the results of the due diligence drilling to be announced
within 80 days. To be cost effective, Lucky Strike intends to drill
Polycrystalline Diamond (PCD) borings down to the first coal seam and then HQ
core drill to complete the hole if desired. Information collected for the due
diligence program will include coal quality sampling, wire-line geophysical
logging, lithology logging, geotechnical information from core, and data for
water quality and hydrology studies.


For the 1,500 m due diligence drilling, seven holes are planned within an area
encompassing a block 8.2 km east-west by 10.2 km north-south on CN Coal
Properties with the intention to explore and expand the coal resource potential
beyond the current drill hole pattern. Evidence from previous drilling programs
revealed a north-eastward, 5 degrees to 8 degrees dip for the coal-bearing
strata. Coal seams crop out on the west side of the property and will be further
examined with a series of trenches. The step-out drill holes will assess the
coal bed character and continuity down dip and laterally along the trend of the
coal beds as defined by the 2009 drilling program. The coal-bearing strata
consist of coal, shale, mudstone and sandstone, which are part of the Lower
Cretaceous sedimentary fill of a shallow structural basin. There is some
evidence that the north-east dip of the strata comprises the west flank of a
gentle syncline and that the coal beds may incline closer to the surface farther
to the east. Further field mapping will be initiated east of the 2009 drill
holes that should help clarify structural conditions. The mapping results will
help explain coal continuity over the license area as well as upgrade planning
for further drilling.


Elgen LLC operates 25 drill rigs in Mongolia with a staff of over 300 employees
and consultants. Sixteen of their drill rigs are dedicated to year round
drilling in the South Gobi.


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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