Laurentian Goldfields Ltd. Acquires New Gold Project Near Dryden, Ontario

VANCOUVER, BRITISH COLUMBIA, Aug 17 (MARKET WIRE) --
Laurentian Goldfields Ltd. (TSX VENTURE: LGF) ("Laurentian") is pleased
to announce that it has added a second property to its holdings in the
Eagle-Wabigoon-Manitou Lakes Greenstone Belt near Dryden, Ontario.

Laurentian has signed an option agreement to acquire 100% interest in two
contiguous patent claims, totaling 32.4 hectares in the Kenora Mining
Division. Laurentian has also increased the overall size of the project
area by staking an additional six claim units, contiguous with and along
strike from the patents under option, for a total project area of 116.1
hectares. The new acquisition is collectively referred to as the New
Klondike Property.

The New Klondike Property

The New Klondike Property acquisition is consistent with the Company's
strategy to generate gold projects in areas that are highly prospective,
but underexplored. Historical data indicate the property is prospective
for quartz-carbonate vein-hosted gold mineralization.

Reports by the Kenora Resident Geologist dating back to 1947 refer to a
400 m long zone exposed in 14 trenches with the highest grade historical
sample taken on the property assaying at 2.9 ounces/ton gold (100.8 g/t
gold). In 1984, Silver Lake Resources collected a 635 tonne bulk sample
which returned a grade of 13.4 g/t gold. Later that year, two shallow
drill holes were sunk beneath the bulk sample area, with the best
intercept assaying at 3.3 g/t gold over 1.2 metres. No significant work
has been undertaken since then.

The New Klondike property lies 800 metres south of the Trans Canada
Highway. The property is geologically situated on a northeast-trending
shear zone and is underlain by a regionally extensive zone of iron
carbonate alteration of the host volcanic rocks. During an on-site
property examination in late 2008, Laurentian geologists collected
fourteen grab samples, of which the four best returned assays ranging
from 4.5 g/t gold to 117.0 g/t gold.

In 2009, Laurentian will conduct surface exploration including soil
sampling, prospecting, and reconnaissance mapping, in order to define
mineralization controls and test for additional gold mineralization on
the property. The main mineralized trend is open along strike in both
directions and there are indications of sub-parallel structures in
historic geophysical data, several of which contain feldspar porphyry
intrusions.

Terms of Option Agreement

To earn 100% interest in the patents under option, the aggregate
consideration to be paid by Laurentian over a 4 year period will be
$30,000, with payments of $1,000 per year for the first 3 years. The
property vendor will retain a 2% Net Smelter Royalty (NSR) on the 2
patents under option. Laurentian will have the right to reduce the NSR to
1% at a price of $1,000,000.

Quality Assurance / Quality Control

All rock samples collected by Laurentian were sent to ALS Chemex in
Thunder Bay, Ontario for analysis of 48 elements by four acid digest,
Inductively Coupled Mass Spectrometry (ME-MS61) with a Fire Assay Atomic
Absorption finish for gold (Au-AA23). Values greater than 10 grams/tonne
gold were re-analyzed by Fire Assay with Gravimetric Finish (ME-MS61).

The technical contents of this release have been reviewed by Mr. Pat
Lengyel, P.Geo., Vice President Exploration for Laurentian Goldfields
Ltd., a Qualified Person pursuant to NI 43-101.

About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled exploration professionals focused
on discovery and growth in under-explored regions of mining-friendly
jurisdictions. Laurentian generates new projects by employing leading
edge exploration concepts and techniques to quickly and cost-effectively
screen vast tracts of land for geological and geochemical signatures
known to be associated with world class gold deposits.

ON BEHALF OF THE BOARD OF DIRECTORS,

Andrew Brown, M.Sc., P.Geo., President and CEO

Some statements in this news release contain forward-looking information.
These statements include, but are not limited to, statements with respect
to mineral potential and planned exploration, development and production
activities. These statements address future events and conditions and, as
such, involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include, among
others, realized mineralization of properties and the timing and success
of future exploration, development and production activities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Laurentian Goldfields Ltd.
Andrew Brown
President and CEO
(604) 646-1596
(604) 642-2411 (FAX)
info@laurentiangoldfields.com
www.laurentiangoldfields.com

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