SOURCE: Houston Lake Mining Inc.

February 17, 2009 11:24 ET

Drilling Extends Shaft Zone Gold Mineralization at Houston Lake Mining's Dubenski Property

Initial Results Confirm Gold Mineralization for 105 Metres Along Strike; Drill Hole 20 Intersects 1.70 Metres Grading 18.17 g/t Gold; Assays Pending From 306 Drill Core Samples

SUDBURY, ONTARIO--(Marketwire - February 17, 2009) - Houston Lake Mining Inc. (TSX-V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that results of the first 14 holes of the Phase II 22 hole, 2,232m (7,321 ft.) diamond drill program have now been received (see Tables 1 and 2). The diamond drill program targeted the vicinity of the Dubenski Shaft Zone which was the site of a recent NI 43-101-compliant resource estimate. Results are pending from an additional 306 drill core samples which will be announced as soon as they are available.

"We are very encouraged by the initial Phase II drill results," commented E. Grayme Anthony, President and Chief Executive Officer. "The drill program consistently encountered significant gold grades and we continue to improve upon results that have been previously reported from this historic property."

"This drill program aims to more than double the strike length of the gold system hosting the resource and has the potential to positively impact the resource calculation. We are carrying out an aggressive 2009 exploration program that consists of more drilling and geophysics on the West Cedartree property. Our goal is to justify an on-site mill and move into production as soon as is feasible," he continued.

Table 1. 2008 Core Length Drill Hole Intercepts, Dubenski Shaft Zone
Extension

-***-
DRILL HOLE         FROM      TO    INTERCEPT  GOLD  INTERCEPT  GOLD
   NUMBER           (M)      (M)       (M)    (G/MT)   (FT)    (OZ/ST)

  DB-08-20          15.80    35.10    19.30    2.18    63.30   0.063
            Incl.   15.80    26.50    10.70    3.22    35.10   0.094
            Incl.   15.80    17.50     1.70   18.17     5.58   0.530

  DB-08-21          28.00    51.00    23.00    1.54    75.44   0.045
            Incl.   33.00    37.00     4.00    3.85    13.12   0.112
            Incl.   36.00    37.00     1.00    6.86     3.28   0.200

  DB-08-22          43.65    68.15    24.50    0.86    80.36   0.025
            Incl.   58.00    60.00     2.00    3.53     6.56   0.103
            Incl.   58.00    59.00     1.00    4.22     3.28   0.123

  DB-08-23          56.00    81.00    25.00    1.13    82.00   0.033
            Incl.   56.00    57.00     1.00    3.50     3.28   0.102

  DB-08-24          70.90   101.70    30.80    1.09   101.02   0.032
            Incl.  100.00   101.70     1.70    4.23     5.58   0.123
            Incl.  101.00   101.70     1.00    5.42     2.30   0.158

  DB-08-25         103.40   125.70    22.30    1.93    73.14   0.056
            Incl.  103.40   110.30     6.90    4.13    22.63   0.120
            Incl.  107.70   109.50     1.80   11.38     5.90   0.332

  DB-08-26          29.00    50.00    21.00    1.30    68.88   0.038
            Incl.   48.30    50.00     1.70    5.90     5.58   0.172

  DB-08-27          45.05    68.15    23.10    1.40    75.77   0.041
            Incl.   50.00    53.10     3.10    4.27    10.17   0.125

  DB-08-28          60.20    81.80    21.60    1.17    70.85   0.034
            Incl.   65.00    66.00     1.00    4.05     3.28   0.118

  DB-08-29          15.00    33.50    18.50    2.34    60.68   0.068
            Incl.   24.00    33.50     9.50    3.86    31.16   0.113
            Incl.   28.00    33.50     5.50    5.84    18.04   0.170
            Incl.   32.00    33.50     1.50   14.61     4.92   0.426

  DB-08-30          30.08    50.05    19.25    1.44     8.53   0.042
            Incl.   30.08    36.00     5.20    3.24     5.25   0.094
            Incl.   30.08    85.70     1.50    7.39     2.62   0.215
            Incl.   31.50    32.30     0.80   12.24     2.62   0.357

  DB-08-31          45.40    62.90    17.50    1.67    57.40   0.049
            Incl.   45.40    47.00     1.60   10.05     5.25   0.293
            Incl.   45.40    46.00     0.60   18.69     1.97   0.545
-****-

Drilling by Houston Lake last winter has defined the Shaft Zone for a strike length of 60 metres (197 feet) and to a depth of approximately 100 metres (328 feet). The altered rocks of the Shaft Zone have now been traced for a total strike length of 165 metres (541 feet). The recently completed Phase II drill program has added four new drill sections to the east and two new drill sections to the west of the four sections intersecting the highly altered rocks of the Shaft Zone. Holes DB-08-20 to 25 form a drill section located 15 metres east; holes DB-08-26 to 28 form a second drill section located 30 metres east and holes DB-08-29 to 31 form part of the third drill section located 45 metres east of the gold resource.

Twelve of the fourteen holes encountered gold grades of 3.50 g/mt gold or higher. Drill hole 20 was one of the better holes and intersected a core length grading 18.17 g/mt Au over 1.70 metres (0.530 oz/t Au over 5.58 feet).

Table 2. 2008 Core Length Drill Hole Intercepts, Dubenski Shaft Zone
Extension

-***-
DRILL HOLE   FROM      TO    INTERCEPT  GOLD  INTERCEPT  GOLD
   NUMBER      (M)     (M)       (M)    (G/MT)   (FT)    (OZ/ST)

  DB-08-18    116.50   137.00    20.50    1.05     67.24  0.031

  DB-08-19    164.30   165.70     1.40    0.62      4.59  0.018
-****-

As previously reported drilling at depth encountered a north-south striking fault, which has offset the zone approximately 25 metres (82 feet) to the north (see Table 2). Drill holes DB-08-18 and DB-08-19 are interpreted to bracket this offsetting fault. It is noted that the altered rocks defining the Shaft Zone have been traced to vertical depth of 230 metres (754 feet) in a hole drilled by Avalon Ventures in 1997. Results are pending from drill holes DB-08-36 to 39 which test the near surface western extension of the Shaft Zone across the fault.

Table 3. Collar Locations for 2008 Drill Holes, Dubenski Property.

DRILL HOLE NORTHING EASTING COLLAR COLLAR   DRILL HOLE LENGTH
NUMBER                       DIP   AZIMUTH

-***-
DB-08-18    1899.0  2289.0  45.0*   354*       164 m  537.92 ft
DB-08-19    1845.0  2291.0  45.0*   354*       281 m  921.68 ft
DB-08-20    1983.7  2345.0  45.0*   354*        65 m  213.20 ft
DB-08-21    1970.7  2346.0  45.0*   354*        83 m  272.24 ft
DB-08-22    1956.3  2347.0  45.0*   354*       110 m  360.80 ft
DB-08-23    1946.0  2348.0  45.0*   354*        95 m  311.60 ft
DB-08-24    1934.5  2349.0  47.0*   354*       128 m  419.84 ft
DB-08-25    1916.4  2350.0  45.0*   354*       134 m  439.52 ft
DB-08-26    1969.0  2359.5  45.0*   354*        74 m  242.72 ft
DB-08-27    1958.1  2361.0  45.0*   354*        83 m  272.24 ft
DB-08-28    1943.4  2362.0  45.0*   354*        92 m  301.76 ft
DB-08-29    1987.0  2374.0  45.5*   354*        54 m  177.12 ft
DB-08-30    1973.0  2375.0  45.0*   354*        59 m  193.52 ft
DB-08-31    1963.0  2376.0  45.0*   354*        68 m  223.04 ft
-****-

The above table illustrates highlights of the winter 2008 drill program (see Company press release dated May 1, 2008). The holes were drilled at 45 degrees to 47 degrees and the results are reported as core lengths. True widths are assumed to be 70.7 to 68.2 percent of the reported core lengths.

A deep IP survey was conducted in February and March of 2008 by Matrix GeoTechnologies Ltd. ("Matrix") of Toronto. The survey identified a strong conductive anomaly that is continuous for over 1,200 metres (3,936 ft.) and coincides with the Shaft, Central and East Zones of Dubenski. 3D modeling by Matrix appears to confirm that chargeability responses associated with the resistivity anomaly at Dubenski appear to strengthen with depth and may indicate the possible down plunge extension of the Shaft Zone mineralization on the property.

Houston Lake has reengaged Matrix to complete gaps in the deep IP coverage to the west of the Shaft Zone and to add fill in IP sections at 50 metre intervals over the Central Zone. Matrix is also carrying out magnetic surveys over the entire Dubenski property. This work will provide the basis for follow up drilling in the vicinity of the Shaft, Central and East Zones. A 2,000 m (6,560 ft.) drill program is planned to begin before the end of February.

Additional IP surveys are slated for late February/early March. The purpose of these surveys is to further define the Angel Hill, McLennan and Dogpaw Vein No. 1 trends on the adjacent West Cedartree and Dogpaw Lake properties.

About the Dubenski Property

The Dubenski property is one of eight contiguous properties comprising the Company's 100% owned and optioned 1,674 hectare (4,135 acre) West Cedartree Gold Project located near Kenora, Ontario. The project area encompasses three zones hosting gold resources at Angel Hill (NI 43-101 compliant), Dogpaw Lake No. 1 Vein (historic) and Dubenski Shaft (NI 43-101 compliant).

The Dubenski property contains an historic resource, which was reported to extend to a depth of 150m (492 ft.) and includes the Shaft, Central and East Zones. Consulting geologists Watts Griffis and McOuat (WGM) of Toronto were contracted to carry out a technical review of the Dubenski Property and design and supervise a definition drilling program in order to prepare a NI 43-101 compliant Mineral Resource estimate for the Dubenski Shaft Zone portion of the historic gold resource (see Company Press Release dated January 16, 2009). The categorized Mineral Resources at a 1.0 g Au/t cutoff are:

Table 4. Summary of Shaft Zone Mineral Resource Estimate
(Cutoff of 1.0 g Au/t)

-***-
-----------------------------------------------------------
|Category |Tonnes | Au (g/t) |  Ounces  |Au (g/t)| Ounces |
|         |       |(uncapped)|(uncapped)|(capped)|(capped)|
-----------------------------------------------------------
|Indicated|177,400|   7.32   |  41,750  |  5.97  | 34,050 |
|Inferred |118,700|   5.63   |  21,500  |  5.02  | 19,150 |
-----------------------------------------------------------
-****-
Notes: Au is capped at 50 g/t, assumed gold price was US$650/ounce

The NI 43-101 report is now available at www.sedar.com and at the Company's website at www.houstonlakemining.com.

Due Diligence

All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples were analyzed by fire assay utilizing a 50 gram charge. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold were retested utilizing a gravimetric finish. The samples will also be re-checked at a second qualified laboratory in keeping with the Company's standard due diligence procedures.

Bryan McKay, P. Geo., Independent Consulting Geologist and E. Grayme Anthony, P. Geo., President of the Company, are the Qualified Persons under the guidelines of NI 43-101 for the technical aspects of this news release.

About Houston Lake Mining Inc.

Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake's objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 33,716,213 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.

Forward-looking Statements

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.

www.houstonlakemining.com

Contact Information

  • Company Contacts

    Houston Lake Mining
    E. Grayme Anthony P.Geo., MBA
    President and CEO
    Tel: 705-897-7622
    Fax: 705-897-7618
    Email Contact

    In Canada:
    Linx Partners Ltd.
    Wanda Cutler
    Tel: 416-303-6460

    In United States:
    ICS
    George Duggan
    Tel: 818-542-6880