Mr. Edward Yurkowski reports

PRAIRIE ENTERPRISES AGREES TO ACQUIRE UNITS OF COPPER LAKE RESOURCES LTD.

Prairie Enterprises (Alberta) Inc., a company controlled by Edward Yurkowski, has entered into a shares-for-debt settlement agreement with Copper Lake Resources Ltd., pursuant to which Prairie has agreed, subject to TSX Venture Exchange approval, to accept seven million units of the company, at a deemed issued price of five cents per unit, in full settlement of $350,000 of indebtedness owing to Prairie by the company and the forgiveness of an additional $46,692 of indebtedness. Each unit will comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase, in accordance with the terms of the warrant, one common share at a price of 10 cents per common shares for a period of 18 months from the issuance of the warrant.

Prior to entering into the agreement, Mr. Yurkowski beneficially owned and controlled 1,348,278 common shares, representing approximately 3.3 per cent of the common shares then issued and outstanding. Upon closing the transaction, Mr. Yurkowski will beneficially own and control a total of 8,348,278 common shares, representing approximately 17.3 per cent of the outstanding common shares. If the 3.5 million warrants are fully exercised, Mr. Yurkowski would beneficially own and control a total of 11,848,278 common shares of the company, representing approximately 22.9 per cent of the common shares then issued and outstanding (assuming that no other common shares are issued before then).

If the transaction is approved by the TSX-V, the units will be issued to Prairie pursuant to exemptions from the prospectus requirements set out in Section 2.14 of National Instrument 45-106, Prospectus Exemptions. Depending on his evaluation of the business prospects and financial condition of the company, general economic and market conditions and other factors, Mr. Yurkowski may, from time to time, increase or decrease his beneficial ownership of shares of the company by private agreement or otherwise.

Additional information will be provided in the early warning report to be filed by Mr. Yurkowski on SEDAR under the company's profile.