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.

Contacts: Lucky Strike Resources Ltd. Investor Relations 604-360-8199 info@luckystrikeresources.com www.luckystrikeresources.com