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Lake Shore Gold Announces 2015 Production and Exploration Targets

Dec 18, 2014

 Lake Shore Gold Corp. located in Timmins, Ontario announced its 2015 production goals will be targeted in the range of 170,000 to 180,000 ounces of gold which is similar to the record level of production established in 2014.

Cash operating costs for 2015 are expected to average between US$650 and US$700 per ounce sold, which is slightly lower than the Lake Shore's guidance in 2014 of US$675 to US$775.  All-in sustaining cost per ounce sold in 2015 year is targeted for US$950 to US$1,000, similar to the 2014 target range of US$950 to US$1,050. Total production costs in 2015 are estimated at approximately $125.0 million. Mining grades in 2015 are expected to be slightly lower than in 2014, averaging approximately 4.4 grams per tonne for the year.

Aggressive exploration is planned at Lake Shore's 144 Gap Zone in the coming year to continue to evaluate the significant gold potential of the discovery area and to define initial resources. Lake Shore will also continue its extensive drill programs at its Timmins Operations, including the Timmins West and Bell Creek mines, with a goal to at least replace the reserves mined during the year.

Tony Makuch , President and Chief Executive Officer of Lake Shore Gold, commented: "We are nearing completion of a record year in 2014 and plan to follow that up with another strong performance next year. Our guidance for production and unit costs in 2015 is similar to the target ranges we established at the beginning of 2014 and, as we have done this year, we will work diligently throughout 2015 to meet and potentially beat our target levels of performance. We are also now very focused on replacing reserves, extending mine life and advancing what we believe is one of the most exciting exploration discoveries in our industry today, our 144 Gap Zone. Recently, we completed a $15 million flow-through financing and plan to invest all of these funds at the 144 Gap during 2015. We will also continue to be disciplined in managing our balance sheet, and are looking forward to having our Sprott debt fully repaid by the end of May."

About Lake Shore Gold

Lake Shore Gold is a Canadian-based gold producer that is on track to produce at least 180,000 ounces of gold in 2014 from its wholly owned operations in the Timmins Gold Camp. The Company produces gold from two mines, Timmins West and Bell Creek, with material being delivered for processing to the Bell Creek Mill. In addition to current operations, the Company also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. The Company's common shares trade on the TSX and NYSE MKT under the symbol LSG.

FOR FURTHER INFORMATION PLEASE CONTACT:

Tony Makuch
President & CEO
(416) 703-6298

Mark Utting
Vice-President, Investor Relations
Lake Shore Gold Corp.
(416) 703-6298
Website: www.lsgold.com