SOURCE: Houston Lake Mining Inc.

April 17, 2008 12:19 ET

Houston Lake Mining to Raise $1.0 Million in a Non-Brokered Flow-Through Private Placement

SUDBURY, ON--(Marketwire - April 17, 2008) - Houston Lake Mining Inc. (PINKSHEETS: HLKMF) (TSX-V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to report that the Company is raising a total of $1.0 million in a non-brokered flow-through private placement financing subject to regulatory approval. The proceeds of the private placement will be utilized to continue exploration and drilling on the Company's 100% owned and optioned gold properties located near Kenora, Ontario.

Houston Lake is offering up to 1,428,575 Units for total gross proceeds of $1.0 million. The 1,428,575 Units have a subscription price of $0.70 per Unit, each Unit being comprised of one Flow-through Common Share and one Purchase Warrant exercisable at $0.80 for a period of 24 months from the Closing Date. The offering has a hold period of four months and is subject to regulatory approval.

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.

Company Contacts

Houston Lake Mining                   Linx Partners Ltd.
E. Grayme Anthony  P.Geo., MBA        877-369-5469
President and CEO
Tel: 705-897-7622
Fax: 705-897-7618
ganthony@vianet.on.ca

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

    Linx Partners Ltd.
    877-369-5469

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