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Lago Dourado completes purchase of gold claims from GPM Metals

Lago DouradoMinerals Ltd. completed the acquisition of property interests in the Sandy Lakedistrict of northwestern Ontario from GPM Metals Inc. for 40 million Lago shares.

Upon completion of the transaction, Lago Dourado changed itsname to Sandy Lake Gold Inc., according to a July 21 statement.

The company's common shares are expected to commence tradingon the TSX Venture Exchange under the new name and symbol SDL, effective July22 at market open.

The company's board was reconstituted and now consist ofMichele McCarthy, Jon Douglas, Daniel Noone, Alexander Po and Bruce Rosenberg.

The companies inked the deal in March, pursuant to whichLago Dourado agreed to acquire a 100% interest in 1,400 contiguous claim unitsknown as the East Block in the Sandy Lake district from GPM Metals.