TORONTO, ONTARIO, Oct. 5, 2009 (Marketwire) -- LEXAM EXPLORATIONS INC. (TSX VENTURE:LEX) is pleased to announce that it has exercised its right, pursuant to the July 2009 subscription agreement, to nominate a director to the VG Gold Corp board. Effective October 2, 2009 Mr. John Drake's nomination has been accepted by the VG Gold board.

John Drake is the President and co-founder of Drake Goodwin Corporation, an investment firm with interests in financial services, real estate development and manufacturing. He is also the Chairman of Critical Outcome Technologies Inc. a TSX-Venture listed company and the co-owner of Redtail Golf Course, an exclusive golf course located outside of Port Stanley, Ontario. Mr. Drake was appointed an Honorary Colonel of the 1st Hussars of the Royal Canadian Armored Corps. in 1999. He obtained his B.A. and LL.B degrees from the University of Western Ontario and remains a member of the Law Society of Upper Canada.

Lexam currently owns 27% of VG Gold's outstanding shares and 42% on a partially diluted basis.

About Lexam

Lexam is a North American exploration company. The Company holds significant equity stakes in VG Gold Corp and Rubicon Minerals Corp. Lexam also owns 75% of the Baca Oil & Gas Project in south-central Colorado, USA and it has a 50% joint venture interest in the Otish Basin uranium project located in Quebec, Canada with Golden Valley Mines