Lakeside Steel announces strategic business alliance with Scot Industries

WELLAND, ON, April 29 /CNW/ - Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") today announced it has agreed to terms with Scot Industries of Wooster, Ohio, on a key business alliance. Under the terms, Scot Industries will provide thermal treatment services for Lakeside Steel. Thermal treatment allows Lakeside Steel to upgrade product produced in Welland to L80, N80 and P110 grades required for the Marcellus Shale. Lakeside previously had this upgrading performed in Texas. With product being upgraded in Wooster, Ohio, Lakeside will now have finished product situated in close proximity to key Marcellus Shale drilling locations.

Ron Bedard, Lakeside Steel's President and COO stated, "Lakeside continues to produce high quality, leading edge technology products required by our customer base in Western Canada, Texas and the Marcellus Shale. We continue to focus on higher value added products, best in class quality and enhanced customer service. We are pleased to work closely with a quality, US based supplier and thank our customer base in the Marcellus Shale area for making us their P110, N80 and L80 supplier of choice."

About Lakeside Steel Inc.

Lakeside Steel is a 2010 TSX Venture Exchange 50 company and the parent company of Lakeside Steel Corp. ("Lakeside"). Lakeside, located in Welland, Ontario, is a diversified steel pipe and tubing manufacturer. Lakeside's list of customers includes large oil and gas, mining, automotive and commercial and industrial supply companies. In addition to supplying its products in these industries, Lakeside manufactures pipe and mechanical tubing for the resale market, which is sold to distributors in Eastern Canada and the Northeastern United States. Lakeside manufactures a variety of products for these industries including oil well tubing and casing, mechanical tubing, pressure tubing, automotive tubing, hollows for redraw, line pipe, heating and plumbing pipe, drill rod and specialty tubing. Lakeside serves customers worldwide, either directly or indirectly, in Canada and the United States.

This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.

Neither 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.

Lakeside Steel was recognized as a TSX Venture 50(R) company in 2010. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

For further information: Ron Bedard, President and Chief Operating Officer, Lakeside Steel Inc., [phone] ext 7294, Fax: [phone], e-mail: [email protected]; Ken Hunter, Chief Financial Officer, Lakeside Steel Inc., [phone] ext 7218, Fax: [phone], e-mail: [email protected]