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HOUSTON LAKE MINING INC. (HLM-TSX.V)
PRESS RELEASE
Drill
Assay Results Pending from Houston Lake’s Angel Hill Gold
Zone,
West Cedartree Gold Project Update Recent work by Houston Lake has focused Angel Hill Gold Zone ("AHGZ"). The AHGZ is one of several gold zones identified thus far on Houston Lake’s 100% owned, 603.6 hectare (1490.9 acre) West Cedartree Gold Project located near Kenora, Ontario. The Company carried out an extensive mechanized stripping, systematic channel sampling and detailed mapping programs over a 130m (426 ft.) segment of the AHGZ in August of 2003. The AHGZ was tested by 77 systematic channel samples which ranged from trace to 71.30 g/t Au (2.080 oz/t) and had a weighted average of 4.04 g/t Au (0.118 oz/t). The 1000m. (3280 ft.) drill program builds upon the detailed surface program and is comprised of about 20 holes. The aim of the drill program is to provide the basis for a resource estimate to a depth of 40m (130 ft.) below the stripped area. Independent consulting geologist, Dean R. Cutting, P. Geo. is the Qualified Person on the project. The first seven holes of the program were drilled at 20m (65.6 ft.) intervals along the AHGZ and were oriented perpendicular to the geologic strike of the gold zone (see HLM Press Release dated January 12, 2004). The AHGZ was intersected at a depth of 20-25m (65.6-82.0ft.). Six of the first seven drill holes encountered significant gold values. The best intercept encountered 10.85m. grading 3.78 g/t Au (35.59 ft. of 0.110 oz/t Au) and contained a high grade section of 0.80m assaying 46.7 g/t Au (2.62 ft. of 1.362 oz/t Au). The
second set of seven drill holes successfully intersected
the AHGZ at a depth of approximately 40m (130 ft.). A
total of 160 drill core samples from drill holes 8 through
13 have been shipped to ALS Chemex Labs of Vancouver,
B. C. as of yesterday and samples from drill hole 14 are
anticipated to be shipped by the end of the week. Visible
gold has been identified in Hole 9. Assay results will
be announced as soon as they are made available. Ghost Lake Rare Metals Project Update Houston Lake has received sampling results from the Ghost Lake Rare Metals Property which is located near Dryden, Ontario. The geological mapping exploration program follows up on previous line-cutting and geophysical surveys conducted on the 464 hectare (1188 acre) property. A well-developed road system provides excellent access into the project area. Houston Lake is required to pay $12,500 and issue 75,000 shares to a private individual to complete the 100 percent earn in of the two-year Ghost Lake option. The earn in is subject to an annual advance royalty of $10,000 and a 2.5 percent Net Smelter Royalty ("NSR") with a buyback of $500,000 per 0.5 percent NSR to a maximum of 1.5 percent. A total of 34 chip and grab samples tested the rare metals, tungsten-gold and the base metals potential of the Ghost Lake Project. Limited sampling of old pits and trenches did not identify significant tungsten-gold and base metal mineralization. However, geologic mapping has confirmed the presence of a zone of anomalous rare metal mineralization and extended its known strike length from 650m (2132ft.) to over 2500m (8200ft.). The anomalous rare metals zone is characterized by a tourmaline (boron) and holmquistite (lithium) bearing granite which traverses through the middle of the property. Elevated values of lithium (up to 105 g/t), tantalum (up to 28.3 g/t), niobium (up to 163 g/t), cesium (up to 48.8 g/t), and rubidium (up to 1170 g/t) are associated with this rare metals granite. Two important and as yet untested areas within the anomalous rare metals zone are recommended for further work. An area of 200m by 75m (656ft. by 246ft.) contains a poorly exposed tourmaline pegmatite. Zonation in the form of stacked aplites, a recognizable wall zone and a quartz-spodumene core zone were noted. A second area of interest targets a 20m. (65.6ft.) wide tourmaline pegmatite. A $50,000 stripping, detailed mapping and channel sampling program is recommended to evaluate these two targets. E. Grayme Anthony, P. Geo. is the Qualified Person responsible for the project. Houston Lake is actively exploring for Gold, Platinum Group Metals and Rare Metals with a strategic focus on northwestern Ontario. The Company has a total of 16,717,195 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, we invite you to visit us at www.houstonlakemining.com. For
more information, please contact:
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