HOUSTON LAKE MINING INC.

(HLM-TSX.V)

PRESS RELEASE

Houston Lake to Begin Drilling at West Cedartree Gold Project,
$200,000 Final Closing of Placement Approved,
Corporate Update

October 29, 2003: Sudbury, Ontario - Houston Lake Mining Inc. (TSX.V:HLM, "Houston Lake") is pleased to report that the Company has received approval from the TSX Venture Exchange for the $200,000 non-brokered, flow-through private placement financing closed on October 9, 2003. Proceeds will be used for working capital purposes to execute the recommended 1000m. (3280 ft.) drill program on the West Cedartree Gold Project which is located near Sioux Narrows, Ontario. Geological and drilling crews are in the process of being mobilized to the property and the drill program is expected to begin as of November 7, 2003.

The financing offered 500,000 units at a price of $0.40 per unit for maximum gross proceeds of $200,000. Each unit consisted of one flow through common share and one purchase warrant. Each full warrant can be exercised into one non-flow-through common share at a price of $0.50 for the first year and $0.60 for the second year. The offering has a hold period until the October 10, 2004 and the warrants expire on October 9, 2005. There are no finder’s fees or commissions connected with the financing.

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 Company will have earned a 100 percent interest in all of its key properties upon completion of the drill program. Houston Lake has recently completed an extensive stripping, systematic channel sampling and detailed mapping program over a 130m. (426 ft.) segment of the Angel Hill Gold Zone ("AHGZ"). The AHGZ was directly tested by 77 of the 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).

Geological crews will be mobilizing to the property early next week to coincide with the earliest availability of the drill. The drill campaign is expected to start on or about November 7, 2003. The 1000m. (3280 ft.) drill program will be comprised of 20 drill holes which will systematically test the exposed 130m. (426 ft.) portion of the AHGZ to a depth of 40m. (130 feet). The aim of the drill program is to provide the basis for a resource estimate. Several drill holes are also planned to test a swampy area which lies to the west of and adjacent to AHGZ. The AHGZ remains open in width to the west and to the south along strike. Consulting geologist, Dean Cutting, P. Geo. is the Qualified Person responsible for the project.

Corporate Update

The Company has been informed by its Investor Relations person, Ms. Cynthia Le Sueur-Aquin, that due the increased load of other commitments she can no longer continue with Houston Lake. By mutual agreement the 30 day notice period required under the Investor Relations agreement is hereby waived and the agreement will terminate as of the end of business on October 31, 2003.

Houston Lake has awarded 250,000 stock options to directors and employees at a discounted price of $0.30 for a term of 5 years. The award is subject to ratification by Shareholders of the amended rolling stock option plan and by regulatory approval. The stock options have a hold period of 4 months.

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 16,547,195 common shares issued and outstanding inclusive of the financing. 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:

Web Site: www.houstonlakemining.com

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