Lagasco appoints Freeman as Chief Executive Officer & Director

Symbol: LCO.H - TSXV

VANCOUVER , Feb. 3 /CNW/ - LAGASCO CORP. ("Lagasco" or the "Company") is pleased to announce the appointment of Mr. Leigh Freeman as Chief Executive Officer and as a Director of the Company, effective immediately.

Mr. Freeman has been involved in the minerals industry for nearly 35 years, with experience as both an engineer and geologist/geophysicist working in technical, managerial and executive positions. He earned a BSc in Geological Engineering from Montana Tech in Butte. He was a co-founder and President of Orvana Minerals Corp. (TSX: ORV), which was recognized as one of the fastest growing companies on the Toronto Stock Exchange before being listed in the TSE 300 and on the TSE Precious Metals Index in the mid-1990s.

Mr. Freeman is currently General Manager and Principal of Downing Teal Inc, a global recruiting company serving the resource industries, and is a co-founder of Bitterroot Group, LLC, a "brood tank" for innovative natural resource-based businesses. He was previously Manager of Project Development at Congdon and Carey (CoCa Mines) out of Denver , Colorado, and was with Placer Dome of Vancouver , BC where he served in a number of positions, including Chief Geophysicist. Mr. Freeman currently sits on the board of directors of Icon Resources Ltd., is a trustee of the Society of Economic Geology and serves on industry advisory boards for the University of Arizona, Montana Tech, Queen's University and South Dakota School of Mines.

Mr. Freeman replaces Mr. Barry Lee as the Company's Chief Executive Officer. Mr. Lee will remain as Chairman of the Company's Board of Directors and as the Company's interim Chief Financial Officer. Mr. Lee noted that "Lagasco is pleased to welcome Mr. Freeman to the Company's board and executive management team. His credentials will assist Lagasco in its search for a qualified business opportunity that will allow us to graduate from the NEX board and resume trading on the TSX Venture Exchange".

Neither the 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

For further information: D. Barry Lee, Chairman of the Board, [phone]