Winter Exploration Begins on Houston Lake Mining's West Cedartree Gold Project
Thursday January 10, 8:00 am ET
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5,000 m Drill Program Targets Dubenski & Dogpaw Historic Gold Resources
SUDBURY, ON--(MARKET WIRE)--Jan 10, 2008 -- Houston Lake Mining Inc. (Other OTC:HLKMF.PK - News) (CDNX:HLM.V - News), an advanced exploration company seeking gold, platinum group metal and rare metal deposits in Ontario, is pleased to announce the Company has commenced its 2008 winter exploration program on the Company's West Cedartree Gold Project near Kenora, Ontario.
The winter program is principally comprised of a 5,000 meter (16,400 ft.) diamond drilling program that will first target the Dubenski Shaft Zone and subsequently the Dogpaw Lake Vein No. 1 Zone. The program's purpose is to facilitate upgrading these historic resources to modern standards. In addition to drilling, the exploration initiative is budgeted to include IP geophysical surveys.
"This is a tremendously exciting time for Houston Lake Mining," said E. Grayme Anthony, President and Chief Executive Officer. "Five years ago we started out at West Cedartree with one small property and a modest $10,000 evaluation program. Now the project has grown to encompass eight properties and this winter's budget alone is more than $1 million. We are initiating a major drill campaign with the aim of proving up our second and third gold resource on the project toward the justification of an onsite mill."
Grayme Anthony, P. Geo. is the Qualified Person under the guidelines of NI 43-101 and has reviewed this press release in its entirety.
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
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Contact:
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
Source: Houston Lake Mining Inc. |
