Lucky Strike Acquires Coal Mine in China, LOI Entered for Changyun Coal Mining Limited

Vancouver, Canada, August 10, 2010 --(PR.com)-- Lucky Strike Resources Ltd. (TSX.V-LKY), is pleased to announce that after an extensive review over the past several months, management has signed a Letter of Intent (LOI) for the acquisition Changyun Coal Mine project with Cheung Wan (Groups) Energy Development Limited. The LOI will allow Lucky Strike the opportunity to perform further due diligence on the Changyun Mining License and Business License with the objective of structuring a formal commercial transaction.

Guizhou Changyun Coal Mining Limited (Changyun) is a wholly owned subsidiary of Cheung Wan (Groups) Energy Development Limited of Hong Kong. Changyun is the only Wholly Owned Foreign Enterprise (WOFE) that was issued a Business License in 2004 by the Guizhou Provincial Government for the Coal Mining Operation Business. The Business License is valid for 20 years to operate coal mines and produce coal related products for sale within Guizhou province. It also allows setting up subsidiaries as WOFE in other provinces throughout China.

The terms of the proposed acquisition for a 60% interest is RMB 110 Million Yuan (approximately US$16.2 Million) to be paid in 2 tranches with the first tranche for US$5.1 Million due within 6 months of signing of the LOI and the second tranche for US$11.1 Million due within 1 year from the signing of the LOI. Management has forwarded a US$150,000 fully refundable deposit to secure the Changyun coal mine project for the Company. A finder’s fee for the project is payable to SinoCan Coal Limited, subject to the approval of the TSX Ventures Exchange.

Dr. Christian Derosier P.Geo. from C.D.G.C. Inc.. completed a site visit to collect information about the project and has reviewed all technical aspects of the projects including geology, resources, and exploration programs, mining and ore processing. Based on available information and the site inspection he has prepared an independent technical assessment report. The positive due diligence and technical assessment of the Changyun property provides a clear appreciation of the immediate potential of the Changyun coal mine and the future development of the surrounding area. Please visit the corporate website for a copy of the report link at http://www.luckystrikeresources.com/LKY-Changyun-Report-V2.pdf

About Changyun Coal Project
Located within the Bijie coal fields, Guizhou Province, the Changyun coal mine covers an area of 2.0954 sq. km with valid mining permits for a 150,000 MTPY coal mining operation, which may be expanded to 300,000 - 500,000 MTPY. Local historical reports (non-compliant with NI43-101) state that coal seams within the mine area are highly altered and would produce a low ash, low to medium sulphur (average 0.23%), and low-volatile (7-8% volatile matter) product, with high gross calorific value that ranges from 6400 to 7200 Kcal/kg. The thermal grade coal is suitable for power plant use. A ready market for production exists with the nearby power plants and other end users within Guizhou province.

In addition to the mine, Changyun has recently been provided with preferential rights to explore and develop a 20 sq. km of highly prospective exploration land surrounding the mine.

About Lucky Strike:
Lucky Strike Resources Ltd. is a Canada-based exploration stage company. The Company is engaged in the process of exploring and/or developing coal properties in Guizhou province in China. The Company also has property in Yreka, British Columbia, Canada. The Changyun coal project is a former past producing mine and is located two hours north of Hong Kong in Guizhou province some 25 km northeast of Bijie City. The permitted mine covers a total area of 2.0954 sq. km and is surrounded by approximately 20 sq. km of highly prospective exploration area, where available geological data supports the potential presence of significant coal resources of high quality Anthracite coal within the area. The local area has well established infrastructure for the Changyun project to resume production and coal buyer to pick up coal FOB at the mine site.

On behalf of Management
Lucky Strike Resources Ltd.
“Dodge Li”
Dodge Li, CEO & Director

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