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HOUSTON LAKE MINING INC. (HLM-TSX.V)
PRESS RELEASE
Houston Lake Confirms
Second
August 21, 2002: Sudbury, Ontario - Houston Lake Mining Inc. (CDNX:HLM, "Houston Lake") is pleased to report on results from recently completed exploration on the Company’s McLennan/Jesse (North) gold project in the Kenora Mining District of Ontario. Trenching and stripping has exposed a new gold-bearing shear zone traceable over 100 metres (328 feet) along strike and open in both directions. Channel sampling tested a 70 metre strike length of the newly exposed zone and confirms earlier high grade gold results obtained from systematic chip samples taken in 1997 on the McLennan/Jesse (North) gold project. McLennan and Jesse (North) Gold Project Houston Lake has maintained a 45% ownership interest and recently obtained a non-arms length option on the remaining 55% in the 139.6 hectare (345 acre) McLennan Gold Property subject to a 1.5% NSR. Both interests are subject to an underlying 0.75% NSR. Houston Lake also has the right to earn a 100% interest in the 144 hectare (355.7 acre) Jesse Gold Property subject to a 2.5% NSR which adjoins the southwestern boundary of the McLennan Gold Property. The gold properties cover fault splays off of the Cameron Lake-Pipestone Bay Fault which is the major control on gold mineralization in the area. Historic work on the McLennan gold property had focused on the McLennan Shear Zone ("MSZ") at the northerly-striking contact of mafic volcanics with a large gabbro body. "Drilling carried out by Noranda Mines in 1944-45 encountered significant gold-bearing intersections over a strike length of 280m. (918 ft.). Typical intersections along the shear zone and off shoot shears are: 0.20 oz/t Au over 1.2 ft., 0.53 oz/t Au over 18.0 ft., 0.25 oz/t Au over 3.0 ft., 0.55 oz/t Au over 1.5 ft., 1.35 oz/t Au over 3.5 ft" (K. Germundsen, 2002, Internal Company Report ). In 1997 a new 10 to 20 metre wide shear zone internal to the gabbro with a strike length in excess of 800 metres (2624 feet) was identified. In 1997 results of 44.76 g/t Au over 1.2 m. (1.305 oz/t Au over 3.9 ft.) and 9.99 g/t Au over 4.8 metres (.291 oz/t Au over 15.7 ft.) which included 43.78 g/t Au over 1.0 metres (1.277 oz/t Au over 3.3 ft.) were won from this new shear zone. The current exploration program was carried out by independent consulting geologists Dr. K. Germundsen, P. Geo., and F. Racicot, P. Geo. Trenching and stripping over the New Shear Zone ("NSZ") has exposed a sulphidized, carbonatized and silicified shear zone that is traceable for at least 100 m. (328 ft.) open in both directions along strike and the width has been expanded to over 25 m. (82 ft.) open to the West. Sixty channel samples were taken over and in the vicinity of the NSZ. The samples, weighing between 4 and 7 Kg, were sent to ALS Chemex Labs of Mississauga for Fire Assay with an AA finish. Samples assaying in excess of 10 g/t Au (0.29 oz/t Au) received a gravimetric finish. Because of the previously reported high grades all samples were completely pulverized and a 50 gram Fire Assay charge was used. Samples were checked by XRAL Labs of Toronto. The sixty samples varied from trace to 47.1 g/t Au (1.374 oz/t Au) and averaged 1.88 g/t Au (0.055 oz/t Au). Check assays reported by XRAL were well correlated with those tested by ALS Chemex. For example, the 47.1 g/t sample result yielded 44.7 g/t Au (1.304 oz/t Au) when checked by XRAL. Three complete channels were taken perpendicular to the north-south strike of the NSZ from north to south over the stripped area: Channel 1 at 5m. (16.4 ft.), Channel 2 at 17.5m. (57.4 ft.), and Channel 3 at 75m. (246.0 ft.). Channel 1 returned 9.11 g/t Au over 5.8m. (0.266 oz/t Au over 19.0 ft.) including 18.76 g/t Au over 2.5 m. (0.547 oz/t over 8.2 ft.). Channel 2 returned 5.39 g/t Au over 3.95m. (0.157 oz/t Au over 13.0 ft.) including 9.26 g/t Au over 2.0m. (0.270 oz/t Au over 6.28 ft.). Channel 3 assayed 5.71 g/t Au over 5.0m. (0.167 oz/t over 16.4 ft.) including 9.19 g/t Au over 3.0m. (0.268 oz/t Au over 9.8 ft.). However, preliminary evaluation indicates that the NSZ may contain pods or lenses of gold mineralization rather than a continuous zone as 16 samples scattered between Channels 2 at 17.5m. and Channel 3 at 75m. only returned anomalous gold values. A $300,000 exploration program involving line-cutting, geophysics, mapping, and diamond drilling is recommended for the project and will target the extension of the NSZ into the southern portions of property and the area worked by Noranda Mines over the MSZ. Debt Settlement Houston Lake is pleased to announce that the Company has completed all the stipulations of an out-of-court settlement to retire a claim made against it. Cash payments totaling $85,000 and the issuance of 75,000 common shares at a deemed price of $0.51 on a Shares for Debt basis have been completed to retire the obligation. Houston Lake is actively exploring for Gold, Rare Metals, and Platinum Group Metals with a strategic focus on northwestern Ontario. Houston Lake Mining Inc. has a total of 15,425,695 common shares issued and outstanding. The common shares of Houston Lake Mining Inc. trade through the facilities of the TSX Venture Exchange under the symbol HLM. For further information on all of the Company's projects, we invite you to visit us at www.houstonlakemining.com. For
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