SOURCE: Houston Lake Mining Inc.

February 20, 2008 10:31 ET

Houston Lake Mining Intersects 23 Metres Grading

4.66 g/mt Au in First Drill Hole at Dubenski Property; 305 New Drill Core Samples From Dubenski Shaft Zone Shipped to Assay Lab; Matrix Geophysics Conducts Deep Probe IP Survey

SUDBURY, ON--(Marketwire - February 20, 2008) - Houston Lake Mining Inc. (PINKSHEETS: HLKMF) (TSX-V: HLM), an advanced exploration company seeking gold, platinum group metal and rare metal deposits in Ontario, is pleased to provide assay results from the first drill hole of 12 holes drilled to date during the 2008 winter exploration program at the Company's West Cedartree Gold Project near Kenora.

Drill hole DB08-01 is the deepest hole of the first and westernmost drill section targeting the historic gold resource at the Dubenski Shaft Zone (see Table 1 below). The 152.7-metre (500.9-foot) hole intersected mineralization grading 4.66 g/mt Au over a core length of 23.0 metres (0.136 oz/st Au over 75.44 feet). This included 9.97 g/mt Au over a core length of 9.0 metres (0.291 oz/st Au over 29.52 feet). Visible gold was observed within a core length of 0.6 metres (1.97 feet) spanning two samples.

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Table 1.Core Length Intercepts for Drill Hole DB-08-01, Dubenski Shaft Zone
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Drill Hole          From     To    Intercept  Gold  Intercept  Gold
Number               (m)     (m)      (m)    (g/mt)    (ft)   (oz/st)
----------          -----  ------  --------   ----   --------  -----
DB-08-01            82.00  105.00   23.00     4.66    75.44    0.136
(-45 degrees) Incl. 82.00   91.00    9.00     9.97    29.52    0.291
              Incl. 89.00   90.00    1.00    65.43     3.28    1.908

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"These results are an outstanding start to our winter drill campaign and we look forward to the next set of results," said E. Grayme Anthony, President and Chief Executive Officer. "The Dubenski property is an important component of our strategic goal of justifying an onsite mill at West Cedartree."

Drill hole DB-08-01 was drilled at 45 degrees to intercept the historic gold resource as close to perpendicular as possible. Core orientation studies are being conducted in concert with the drill program to validate the true width of the zone. True widths will be reported once the geometry of the gold zone has been determined. All samples reported have been analyzed by fire assay with a 50 gram charge at TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan.

A total of 12 drill holes have been completed as of February 16, 2008 and 305 new drill core samples have been shipped to TSL Laboratories of Saskatoon, Saskatchewan for fire assay. Results are expected in three to four weeks.

The winter program is principally comprised of two initiatives: diamond drilling and geophysical surveys. The drill program provides for 5,000 metres (16,400 feet) of drilling that first targets the Dubenski Shaft Zone and subsequently the Dogpaw Lake Vein No. 1 Zone (see maps at www.houstonlakemining.com). The program's purpose is to facilitate upgrading of historic resource data to modern standards.

Consulting geologists Watts Griffis and McOuat (WGM) of Toronto are managing the drill program at Dubenski. A 17-hole, 1,470-metre (6,156-foot) drill program was initiated on January 15, 2008. Four drill sections are planned to systematically test the Shaft Zone to a vertical depth of 100 metres (328 feet). Each drill section consists of four drill holes. Twelve drill holes have been completed as of January 16.

Much of the historic exploration on the Dubenski property has been confined to depths shallower than 100 metres (328 feet). However, the 1998 drill program by Avalon Ventures Ltd. probed below previous drilling in the vicinity of the Shaft Zone and encountered increased widths of the alteration system hosting the gold mineralization.

Gold mineralization in the Shaft Zone appears to be associated with strong silicification and pyritization of the host rock. IP should be an effective geophysical method for identifying additional drill targets along strike and to depth. As the first step in appraising the potential extension of the gold system to depth, Houston Lake has contracted Matrix GeoTechnologies Ltd. of Toronto to conduct a 23-kilometre (14-mile) IP/Resistivity survey. The IP survey includes eight quantitative sections for identifying new drill targets from depths of 100 to 400 metres (328 to 1,312 feet). This work commenced in early February.

Paul Dunbar, P. Geo. of WGM is the Qualified Person under the guidelines of NI 43-101 for the technical aspects of this news release and is the supervisor of the drill program.

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 in the short term 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 27,364,746 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

Houston Lake Mining Inc.
2892 White Street, Val Caron, Ontario,
Canada  P3N 1B2

Contact Information

  • Company Contacts

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

    Barnes McInerney Inc.
    Colin Languedoc
    Senior Account Executive
    Tel: 416-367-5000 ext. 225
    Fax: 416-367-5390
    Email Contact