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Sudbury, Ontario – November 22, 2010 - Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company with strategic gold, rare-metal, and platinum group properties in Northwestern Ontario, is pleased to announce that it has filed its first ever Annual Information Form (“AIF”). The AIF can be found on SEDAR (www.sedar.com) or Houston’s website at www.houstonlakemining.com. The AIF is a prerequisite of the Equity Line Facility (“ELF”) with Dutchess Opportunity Cayman Fund Ltd., a fund managed by Dutchess Capital Management, II LLC. Under the terms of the ELF, Dutchess has committed to provide up to $10 million of capital during the next three years, at HLM’s discretion, through the issue of common shares. Details can be seen from the Houston press release dated September 22, 2010.
“We are happy to have completed the AIF and are pleased with the transparency it provides shareholders and prospective investors with Houston. This is an important step forward in our objectives of the ELF as it is instrumental towards Houston’s growth objectives. The new equity line facility with a well-established Investor such as Dutchess is a clear indication of investor optimism behind HLM’s team and plans to further develop our assets at a faster pace. The ELF agreement will give us a flexible and inexpensive access to capital to support our exploration initiatives." said Trevor R. Walker, President of HLM. "By demonstrating significant access to capital, our past exploration results, and the extent of exploration targets on our three projects, we are sending a clear and positive message to our shareholders that we are striving to increase our resources with the objective of production in the future. We appreciate, and would like to thank our shareholders for their continued support as we transition the company towards our growth initiatives.”
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 44,164,304 common shares issued and outstanding exclusive of the announced financing. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
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Houston Lake Mining Trevor R. Walker, MBA President Tel: 705.897.7622 Fax: 705.897.7618
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Forward-looking Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.
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