SOURCE: Houston Lake Mining Inc.

March 26, 2008 08:00 ET

Houston Lake Mining Intersects More High Grade Gold Mineralization at Dubenski Shaft Zone

Drill Hole DB-08-06 Intersects 37.3 Metres Grading 8.28 g/mt Gold

SUDBURY, ON--(Marketwire - March 26, 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 the fifth and sixth drill holes of a recently completed 17 hole, 1,798.6 metre (5,899.4 foot) delineation drill program on the Dubenski property of the Company's West Cedartree Gold Project near Kenora.

The program seeks to upgrade a portion of the Dubenski Shaft Zone historic resource of 355,286 tonnes grading 6.32 g/mt gold (322,310 tons averaging 0.184 oz/st gold) to modern standards.

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Table 1. Core Length Intercepts for Drill Holes 05 and 06, Dubenski Shaft Zone

Drill Hole           From        To    Intercept   Gold    Intercept   Gold
 Number            (m)    (m)    (m)    (g/mt)     (ft)    (oz/st)
---------------------------------------------------------------------------
DB-08-05             101.00    126.00    25.00      4.95     82.00    0.144
(-45 degrees)  Incl. 103.00    118.00    15.00      7.97     49.20    0.232
               Incl. 108.00    116.00     8.00     13.63     26.24    0.398
               Incl. 110.00    111.00     1.00     62.76      3.28    1.830

DB-08-06              94.70    132.00    37.30      8.28    122.30    0.241
(-45 degrees)  Incl. 101.00    112.00    11.00     25.94     36.08    0.757
               Incl. 102.00    109.00     7.00     35.31     22.96    1.030
               Incl. 105.00    106.00     1.00    114.70      3.28    3.345
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"We continue to be pleased by the width and gold tenor of the drill intercepts returned from the Dubenski Shaft Zone," said E. Grayme Anthony, President and Chief Executive Officer. "We look forward to the next set of assays which will be announced as we receive them."

Drill holes DB-08-05 and DB-08-06 form the deepest drill holes of the two easternmost drill sections (Tables 1 and 2). Both drill holes intersected the strongly altered and silicified meta-volcanic rocks that typify the Shaft Zone. The 130 samples returned assay results that varied from trace to 114.70 g/mt (3.345 oz/st) gold. Drill hole DB08-06 intersected 8.28 g/mt gold over a core length of 37.30 metres (0.241 oz/st over 122.30 feet) including 35.31 g/mt gold over 7.0 metres (1.030 oz/st over 22.96 feet). Results from the remaining 602 Dubenski drill core samples are expected in the next few weeks.

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Table 2. Locations for Drill Holes DB08-05 and DB08-06 at the Dubenski Shaft Zone

Drill Hole                      Collar       Collar
Number     Northing  Easting     Dip        Azimuth    Drill Hole Length
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DB08-05   5,464,195  438,422  -45 degrees  354 degrees  128.00m   419.84ft
DB08-06   5,464,191  438,409  -45 degrees  350 degrees  154.00m   505.12ft

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The two drill holes were 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.

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 main purpose is to facilitate upgrading of historical resource data to modern standards.

Consulting geologists Watts Griffis and McOuat (WGM) of Toronto are managing the drill program at Dubenski. A 17 hole, 1,798.6 metre (5,899.4 foot) drill program was completed in early March. The delineation program consists of four drill sections spaced approximately 15 metres apart and each section consists of four drill holes that systematically test a portion of the historic Shaft Zone gold resource to a depth of about 100 metres (328 feet).

Much of the historical 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.

A 23 line-km (13.8 line-miles) IP survey was conducted by Matrix GeoTechnologies of Toronto in February. Initial results of the survey outline an anomaly consisting of a continuous series of chargeability highs that can be traced in an east-west direction for a distance of at least 1.7 km (1.0 mile) across the middle of the Dubenski property. This chargeability trend appears to coincide with the alteration corridor containing the East, Central and Shaft gold zones. A second IP chargeability anomaly appears to form a splay off of the first IP trend and is traced for at least 1.3 km (0.8 miles) on the property.

Matrix is completing the construction of eight to 10 quantitative sections over the identified trends. The sections will be useful in generating potential drill targets at depths of up to 400 metres (1,312 feet) along both geophysical trends.

E. Grayme Anthony, P. Geo. of Houston Lake is the Qualified Person under the guidelines of NI 43-101 for the technical aspects of this news release.

Due Diligence

All samples reported have been analyzed by fire assay with a 50 gram charge at TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. All samples were assayed with an AA finish and those samples assaying above 3 g/mt Au were retested utilizing a gravimetric finish.

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.

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.

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.
    Wanda Cutler
    Tel: 877-369-5469

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