SOURCE: Houston Lake Mining Inc.

July 08, 2008 08:00 ET

Houston Lake Mining Continues to Intersect Significant Gold Values at West Cedartree

Dogpaw Lake Drill Hole 64 Encounters 10.51 g/mt Gold Over 4.6 Metres, New Drill Program Begins at Dogpaw Lake

SUDBURY, ON--(Marketwire - July 8, 2008) - Houston Lake Mining Inc. (TSX-V: HLM) (PINKSHEETS: HLKMF), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to provide assay results from a portion of a recently completed 34 hole, 3,209 metre (10,526 foot) drill program on its Dogpaw Lake property, one of eight contiguous properties forming the Company's West Cedartree Gold Project near Kenora.

Table 1. Core Length Intercepts for 2008 Drill Holes, Dogpaw No. 1 Vein
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Drill Hole      From     To  Intercept  Gold    Intercept    Gold
  Number         (m)    (m)     (m)    (g/mt)     (ft)      (oz/st)
  ------         ---    ---     ---    ------     ----      -------
DP-08-59        49.98  55.25    5.27     2.15     17.29      0.063
         Incl.  49.98  51.35    1.37     5.57      4.49      0.162
         Incl.  50.85  51.35    0.50    14.22      1.64      0.415

DP-08-60        53.10  58.40    5.30     1.22     17.38      0.036
         Incl.  53.10  55.00    1.90     2.60      6.23      0.062
         Incl.  54.10  55.00    0.90     5.18      2.95      0.151

DP-08-61        89.00  96.60    7.60     0.69     24.93      0.020
         Incl.  90.25  91.85    1.60     1.88      5.25      0.055
         Incl.  91.50  91.85    0.35     3.31      1.15      0.097

DP-08-62        71.30  78.50    7.20     3.78     23.62      0.110
         Incl.  71.30  75.25    3.95     6.76     12.96      0.197
         Incl.  72.75  75.25    2.50    10.56      8.20      0.308
         Incl.  74.50  74.90    0.40    53.48      1.31      1.560

DP-08-63       100.85 106.35    5.60     0.68     18.37      0.020
         Incl. 105.35 106.35    1.00     3.13      3.28      0.091

DP-08-64       110.65 125.00   14.35     3.78     47.07      0.110
         Incl. 115.00 125.00   10.00     4.95     32.80      0.144
         Incl. 120.40 125.00    4.60    10.51     15.09      0.307
         Incl. 120.40 120.75    0.35    32.68      1.15      0.953

The delineation drill program seeks to upgrade a portion of the Dogpaw No. 1 Vein historic resource of 53,741 tonnes grading 15.43 g/mt gold (59,239 tons averaging 0.450 oz/st gold) to modern standards. A new 2,000 metre (6,560 foot) delineation drill program commenced July 5 and continues to expand the historic resource to depth and along a newly identified lateral extension (Dogpaw No. 2 Vein).

"Our rate of drill success at Dogpaw has been phenomenal," said E. Grayme Anthony, President and Chief Executive Officer. "Fully 20 of the 23 holes drilled to date have encountered gold grades of 3 grams per tonne or higher. With results from more than 20 drill holes yet to be reported and new drilling now under way, we can look forward to an active summer of news from the project."

Drill holes DP-08-59 to DP-08-64 form part of the systematic testing of the vicinity of the Dogpaw No. 1 Vein historic resource. The reported drilling tests the vein from a minimum depth of approximately 35.50 metres (116.44 feet) in DP-08-59 to the maximum depth of about 93.70 metres (307.34 feet) in DP-08-64. (Tables 1 and 2). All six drill holes intersected the strongly altered and silicified meta-gabbroic rocks that typify Dogpaw Vein No. 1. The 142 drill core samples returned assay results that varied from trace to 53.48 g/mt (1.560 oz/st) gold. DP-08-64 was the deepest reported drill hole and intersected 3.78 g/mt gold over a core length of 14.35 metres (0.110 oz/st gold over 47.07 feet), including 10.51 g/mt gold over 4.60 metres (0.307 oz/st gold over 15.09 feet). Further drill results are expected in the next few weeks.

Table 2. Preliminary Collar Locations for 2008 Drill Holes, Dogpaw No. 1
Vein

                              Collar    Collar
Drill Hole                      Dip     Azimuth
  Number    Northing Easting (degrees) (degrees) Drill Hole Length
  ------    -------- ------- --------- --------- -----------------

DP-08-59   5,464,855 436,398  -45.3     157.0     71.00m  232.94ft
DP-08-60   5,464,899 436,410  -54.5     152.2     75.00m  246.06ft
DP-08-61   5,464,928 436,394  -55.8     148.8    131.00m  429.79ft
DP-08-62   5,464,938 436,417  -49.2     151.7    110.00m  360.89ft
DP-08-63   5,464,938 436,417  -67.2     143.6    122.00m  400.26ft
DP-08-64   5,464,969 436,403  -58.4     157.2    131.00m  429.79ft

The six drill holes were drilled at 45 to 67 degrees to intercept the 70 degree dipping Dogpaw No. 1 Vein. True widths are estimated to be 90.6% of 45 degree, 81.9% of 55 degree and 70.7% of 65 degree collar dips.

Stripping and channel sampling of the Dogpaw No. 4 Vein is currently under way. The No. 4 Vein is thought to be the northeastern lateral continuation of the No. 1 Vein historic resource. Other vein systems have been located on the property and are targeted for further evaluation. Geologic mapping is currently in progress and is planned to cover the Dogpaw Lake property as well as the Angel Hill and McLennan gold trends.

The Company is awaiting an NI 43-101 report on the Dubenski property from consulting geologists Watts Griffis McOuat of Toronto. This report seeks to upgrade the Shaft Zone historic resource, the site of recent drilling, to modern standards and will recommend targets for the next phase of exploration. The Dubenski property is currently being geologically mapped and geophysical targets are being ground-proofed in preparation for drilling.

Due Diligence

All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples taken from the core of the mineralized zone were analyzed utilizing a screen metallic assay method. This methodology provides a higher level of assurance by testing a large quantity of sample (1,000g) and by monitoring the size distribution of the gold. Samples taken from the shoulders of the mineralized zone 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.

The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.

A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.

Dean Cutting, P. Geo., an independent consulting geologist, is the Qualified Person 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 29,435,246 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.

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

    Linx Partners Ltd.
    Tel: 877-369-5469