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Successful 2008 Exploration Programs Reinforce Board’s Decision to Remain Focused on the West Cedartree Gold Project
Sudbury, Ontario – February 18, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group metal and rare metal deposits in Ontario, is pleased to announce the re-election of the Board of Directors, the ratification of Sievert, Sawrantschuk & Associates, LLP as auditors of the Corporation and the approval of a Shares for Debt settlement. The Annual and Special Meeting was held at the offices of Houston Lake Mining in Sudbury on February 5, 2009. A quorum, representing 34.6% of outstanding shares were voted at the meeting.
“Our strategic decision to focus on the West Cedartree gold project was rewarded in 2008 by some of the best drill results in the Houston Lake’s history,” E. Grayme Anthony, President and CEO, told the meeting. “With a new gold resource estimate already in hand, an aggressive exploration program underway and funding in place, 2009 is shaping up to be a dynamic year for the Company. Houston Lake is well positioned to build on the success of the past year as we move steadily toward our goal of becoming a gold producer at West Cedartree.”
The Board of Directors were re-elected, with 11,647,374 votes in favour, and 29,000 abstaining. The Board includes Chairman Reginald F. Walker; John G. Kelly, P. Eng; Robert J. McLean, C.H.R.P.; and E. Grayme Anthony, P. Geo. The meeting also ratified Sievert, Sawrantschuk & Associates, LLP as auditors.
A Shares for Debt settlement of $134,134.32 was approved by disinterested Shareholders for Timber Wolf Explorations Inc. with 10,442,094 votes in favour, and 38,500 abstaining. Timber Wolf Explorations Inc. is a non-arms length company controlled by E. Grayme Anthony. The debt settlement addresses unpaid management fees which have been on the Company’s books for several years.
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 33,716,213 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
Houston Lake Mining
In Canada:
E. Grayme Anthony P.Geo., MBA
President and CEO
Tel: 705-897-7622
Fax: 705-897-7618
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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
Linx Partners Ltd.
Wanda Cutler
Tel: 416-303-6460
In United States:
ICS
George Duggan
Tel: 818-542-6880
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