November 29, 1999: Sudbury, Ontario - Economically significant assays of the rare metals tantalum, cesium, rubidium, beryllium, lithium and germanium have created an element of excitement for the management of Houston Lake Mining Inc. ("Houston Lake"). Assay results from 19 channel samples and 5 bulk samples taken on the Pakeagama Lake Rare Metals Property have just been received from Chemex Labs of Mississauga, Ontario.

The Pakeagama Lake Rare Metals Property is located approximately 170 km northwest of Red Lake, Ontario. Recently, the surface exposure of this rare metals pegmatite has been extended to a minimum strike length of 260 metres (which is open along strike to the northwest and southeast, and with strong indications that the southeastern extension continues for an additional 300m. to the shores of Pakeagama Lake) and a width of 30 to 70 metres.

Since 1998, field-based and laboratory data amassed from the Pakeagama Lake pegmatite by the Ontario Geological Survey ("OGS") and The Open University in the U.K., include 1648 electron microprobe analyses, 50 bulk chemical analyses, 21 analyses of potassium feldspar and X-ray diffraction mineral identification work conducted upon 30 samples. In 1999, follow up field investigation was undertaken to: further characterize the internal mineralogical zonation in terms of mineralogy and chemistry; assess the distribution of economically important minerals such as the tantalum minerals stibiotantalite and wodginite and the cesium mineral pollucite. The results of these studies have been published by the OGS (Open File Report 6000, Summary of field Work and Other Activities, November, 1999, pp.26-1 to 26-12). The Summary Report on Pakeagama Lake has been reproduced on the Company’s web site. The Report concludes:

"The detailed documentation of a variety of tantalum-rich minerals coupled with the presence of pollucite renders the Pakeagama Lake pegmatite and adjoining area one of the best targets for tantalum and cesium exploration in northwestern Ontario."

Subsequent assay results appear to confirm this view:

Twenty-four samples were submitted for analysis by Houston Lake to Chemex Labs of Mississauga, Ontario. The samples were analyzed by the ICP method with an ICP-MS scan and also by ICP-MS in a meta-borate fusion with dissolution. A number of elements exceeded the value limits of the ICP methodology and must be further tested. These include: lithium, antimony and germanium. The twenty-four samples returned an average value of 280 g/t (0.028 percent) tantalum oxide, 4642 g/t rubidium oxide, 817 g/t cesium oxide, 366.4 g/t beryllium oxide, and 124 g/t tin.

The Wall Zone is at least 13 metres wide and has a strike length of 40 metres which is open in both directions. A 2 Kg bulk sample previously taken by OGS from this zone returned economically significant results of 380 g/t (0.038 percent) tantalum oxide, 1 percent rubidium oxide, and 1.93 percent lithium oxide. Eleven continuous one-metre channel samples tested the Wall Zone.

Wall Zone Assays

Other samples focussed on the Montebrasite-Lepidolite-Quartz Replacement Unit, aplite dykes and the Wall Zone. These values indicate that late stage mineralizing events displayed by the Pakeagama Lake pegmatite have considerable exploration potential for rare metals.

A $500,000 exploration program has been recommended which would involve line-cutting, geophysics, soil and litho-geochemistry, geological mapping and diamond drilling and would be carried out by the summer of 2000 subject to financing.

Rare Metals have unique properties that are sought after globally for high technology applications. Tantalum is used in electronic capacitors in computers, avionics, automotive and in communications technology. Cesium has recently been successfully used as a high density and completion fluid in the oil and gas drilling industry. Rubidium is used in ceramics applications for spark plugs and insulators. Beryllium is used in light weight alloys in the aerospace industry.

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 11,413,266 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:

Tel: (705) 897-7622

Fax: (705) 897-7618

e-mail: houston@vianet.on.ca