HOUSTON LAKE MINING INC.

(HLM-CDNX)

PRESS RELEASE

Letter of Intent Signed on Tib Lake Palladium Property

November 14, 2001: Sudbury, Ontario - Houston Lake Mining Inc. (CDNX:HLM, "Houston Lake") is pleased to announce that the Company has signed a Letter of Intent with Agnico-Eagle Mines Limited (TSE:AGE, NYSE:AEM "Agnico-Eagle") of Toronto, Ontario on Houston Lake’s 100 percent-owned, 1632 hectare (4030 acre) Tib Lake property which is located in the Thunder Bay Mining District of NW Ontario. The property interest has an underlying 2.5 percent NSR. A formal agreement is subject to a due diligence review and regulatory approval.

Under the Letter of Intent Agnico-Eagle would have the right to earn a 50 percent interest by making cash payments of $650,000 and expending $3.6 million over four years. Agnico-Eagle would have the right to earn an additional 10 percent upon delivering a positive feasibility study and would be the operator. The companies would form a 50/50 partnership upon earn in of the option interest. Both parties are protected from dilution past a 30 percent interest level.

Houston Lake president E. Grayme Anthony believes "Agnico-Eagle brings integrity, financial strength, and development expertise which complements Houston Lake’s platinum group metals exploration experience and early positioning in one of the most prospective platinum-palladium camps in the world. This combination strengthens both of our companies and allows the promising Tib Lake project to advance apace."

The Tib Lake property is located in the Lac Des Iles area just 15 km. (9 miles) from the Lac Des Iles mine of North American Palladium Ltd. Resources at the Lac Des Iles mine at December 31, 2000 were estimated to be 145.6 million tonnes averaging 1.57 grams per tonne, containing 7.4 million ounces of palladium. The Tib Lake gabbro is the second largest intrusion of the Lac Des Iles suite of rocks and, as such, is a prime target for palladium-platinum-gold exploration.

Houston Lake is actively exploring for rare metals, platinum group metals and gold in northwestern Ontario. The common shares of Houston Lake Mining Inc. trade through the facilities of the Canadian Venture Exchange under the symbol HLM. Houston Lake Mining Inc. has a total of 14,798,695 common shares issued and outstanding. 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.
Tel: (705) 897-7622
Fax: (705) 897-7618
e-mail: houston@vianet.on.ca
Web Site: www.houstonlakemining.com

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