HOUSTON LAKE MINING INC.

(HLM-TSX.V)

 

PRESS RELEASE

 

Houston Lake Verifies High-grade Gold on West Cedartree Gold Project

 

July 31, 2003: Sudbury, Ontario - Houston Lake Mining Inc. (TSX.V:HLM, "Houston Lake") is pleased to report on systematic channel sampling results from the 603.6 hectare (1490.9 acre) West Cedartree Gold Project. The West Cedartree Gold Project is located near Sioux Narrows in the Kenora Mining District of Ontario. Mechanized stripping, washing, channel sampling and detailed mapping surveys were concluded over a 130 metre (426 foot) segment of the Angel Hill Gold Zone ("AHGZ") as of July 20, 2003. The Summer program has built upon the preliminary sampling conducted last Fall as well as line-cutting and geophysical surveys completed this Spring. Of the 89 channel samples taken, 87 samples systematically evaluated the AHGZ and the rocks adjacent to the zone. The 87 systematic channel samples (see Table 1) ranged from trace to 71.30 g/t Au (2.080 oz/t) and averaged 4.42 g/t Au (0.129 oz/t Au). This average represents a 235% increase over the average value of 1.88 g/t Au (0.055 oz/t Au) obtained from last Fall’s program of 60 channel samples.

Table 1. Summer, 2003 Systematic Channel Sample Results Over the AHGZ

Distance along Strike (m.)

True Width
(m.)

Gold
(g/t Au)

Distance along Strike (ft.)

True Width
(ft.)

Gold
(oz/t Au)

60 m. North

7.07 m.

13.78

197 ft. North

23.19 ft.

0.402

Incl.

4.92 m.

19.68

Incl.

16.14 ft.

0.574

55 m. North

1.30 m.

49.90

180 ft. North

4.26 ft.

1.455

48 m. North

2.60 m.

8.02

157 ft. North

8.53 ft.

0.234

40 m. North

2.65 m.

0.84

131 ft. North

8.69 ft.

0.025

20 m. North

1.70 m.

0.17

66 ft. North

5.58 ft.

0.005

1 m. North

0.30 m.

71.30

3 ft. North

0.98 ft.

2.080

0 m. North

4.65 m.

7.25

0 ft. North

15.25 ft.

0.212

Incl.

1.95 m.

17.22

Incl.

6.40 ft.

0.502

0 N (15m.W)

0.95 m.

7.80

0 N (49 ft. W)

3.12 ft.

0.227

Incl.

0.15 m.

48.90

Incl.

0.49 ft.

1.426

20 m. South

3.90 m.

0.38

66 ft. South

12.80 ft.

0.011

40 m. South

1.20 m.

0.81

131 ft. South

3.94 ft.

0.024

55 m. S (Road)

2.90 m.

2.15

180 ft. S (Road)

9.51 ft.

0.063

 

Houston Lake now owns or has under 100 percent option on a total of 603.6 hectares (1490.9 acres) spanning four properties in the West Cedartree Lake area. The properties are accessed by an all-weather gravel road, which traverses the northern portions of the project area. Past exploration has focused on the McLennan Shear Zone ("MSZ") at the northerly-striking contact of mafic volcanics with a large gabbro body. In 1997 a second gold-bearing shear zone, the Angel Hill Gold Zone, was identified internal to the gabbro.

The steeply dipping and rusty weathering AHGZ became the major focus of this Summer’s exploration program. The AHGZ has been extended in outcrop along strike for an additional 150m. (492 ft.) for a total strike length of 225m. (738 ft.) and the zone remains open along strike to the south. A magnetic high is traceable southward from the vicinity of the exposed AHGZ to a number of gold-in-soil anomalies and passes near a gold showing in the southern portions of the property for a total possible strike length of 2.1 km. (6888 ft.). The gold zone has now been stripped and washed for 130m. (426 ft.) along strike. The AHGZ has a minimum exposed width of 3m. (9.8 ft.) to a maximum exposed width of 18m. (59.0 ft.) and remains open in width to the west. The exposed gold zone appears to be a part of a larger shear system and is internally complex.

The rigorous channel sampling program provided a systematic appraisal of the exposed segment of the zone and tested the gold tenor of the individual rock units comprising the AHGZ. Channel sampling was conducted every 20 metres perpendicular to strike along the zone. The channel samples evaluated every rock unit within each 20 metre section. A total of 89 channel samples were shipped to ALS Chemex of Mississauga, Ontario. The samples were analyzed by standard fire assay utilizing a 50 gram charge with an AA finish. Check samples will be sent to XRAL Laboratories of Toronto, Ontario.

The assay data has very recently been received and the results are currently being evaluated by independent consulting geologist, Dean Cutting, P. Geo. who is the Qualified Person responsible for the project. A $200,000 program involving IP geophysical surveys and a 1000m. (3280 ft.) drill program is tentatively proposed to further investigate the Angel Hill Gold Zone. The MSZ, the southern extension of the AHGS and other parallel trends will be investigated in subsequent programs.

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 15,958,195 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 on all of the Company's projects, we invite you to visit us at www.houstonlakemining.com.

For more information, please contact:

E. Grayme Anthony   B.Sc., P. Geo., F.G.A.C., M. B. A

Cynthia Le Sueur-Aquin
Tel: (705) 897-7622
Tel: (705) 788-9186
Fax: (705) 897-7618 Fax: (705) 788-9187
e-mail: houston@vianet.on.ca e-mail:clesueuraquin@quaere.ca

Web Site: www.houstonlakemining.com

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.


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