OTC BB:DLKM.OB

Douglas Lake Minerals Commences Diamond Exploration on Magembe Property

VANCOUVER, CANADA, October 30, 2007 – Harp Sangha, CEO/President of Douglas Lake Minerals (DLKM–OTCBB), announced today that their partner Canaco Resources has initiated Phase One Exploration of their Magembe Diamond Project located in the Shinyanga district of northwestern Tanzania.
“Canaco has started exploration to evaluate indicated diamond potential from both alluvial and kimberlite sources,” stated Harp Sangha. “The program will follow-up on the reconnaissance scale exploration completed earlier in 2007. That initial work consisted of data compilation, remote sensing, geological mapping and prospecting, and was successful in identifying geological environments favourable for hosting surficial and bedrock diamond deposits.”

SIGNIFICANT POTENTIAL
Enthusiastic about this new program, Harp Sangha stated, “With all the local artisanal mining activity, we believe there’s considerable potential for a commercially profitable diamond mine. These local miners are already active and recovering diamonds from surface alluvial deposits on the western boundary of our Magembe property. The Phase One exploration program will evaluate the concentrations of recoverable diamonds from alluvial material through systematic bulk sampling and processing. On the northern part of the property, regional geophysical data indicate the presence of four unexplored kimberlite targets with magnetic expressions similar to the Williamson kimberlite.
The execution of the Magembe program is under the supervision of Andrew Lee Smith, P.Geo., who is a qualified person as defined by National Instrument 43-101.

LOCATED NEXT TO DE BEERS’ WORLD-CLASS WILLIAMSON MINE
The Williamson Mine is currently owned 75% by De Beers and 25% by Tanzania and has produced over 20 million carats since 1940. The Williamson pipe covers 360 acres, and at the time of its discovery, was considered the largest economically exploitable pipe in the world. It is renowned for being the original source of pink diamonds and has produced notable stones including a 54 carat flawless pink diamond and a 388 carat diamond found in 1990.

About Douglas Lake Minerals, A Royalty-Based Company
Our vision at Douglas Lake Minerals is to focus on exploring and developing gold, copper, nickel, uranium and diamond mining opportunities in Tanzania, a country with vast amounts of undeveloped mineral-rich natural resources. We are exploring and developing our large portfolio of prospecting concessions through royalty-based joint venture partnerships. Our strategy is to provide investors with considerable upside potential while minimizing future shareholder dilution through our royalty partnerships (www.douglaslakeminerals.com).

NOTE: No Exchange has either approved or disapproved the information contained herein. This news release many contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and risk factors beyond its control; and actual results may differ materially from expected results. The Company will not update forward-looking statements as conditions change. Factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's quarterly and other periodic filings with the SEC.

For further information please contact:
Byron Hampton
Tel: 604-781-2393
Email: byronhampton@shaw.ca

Harp Sangha, CEO / President
Tel: 604-669-0323
Fax: 604-669-3645
Email: harpsangha@shaw.ca
Website: www.douglaslakeminerals.com