2012-11-08 15:05:54 -
Sudbury, Ontario CANADA, November 08, 2012 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture), is a mining exploration company which is actively exploring for rare metals and currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to announce the staking of additional prospective rare metal properties adjacent to the Pakeagama Project. HLM now holds a 100 percent interest in 1,792 hectares (4,424 acres) of mining claims at its Pakeagama Rare Metals Project. This land position covers the known exposures of the Pakeagama rare metals pegmatite.
"Strong market interest in rare metals has made our Pakeagama Rare Metals Project a market leader and the focus of exploration for high
grade targets" said Trevor R. Walker, President. "We believe that we hold the key ground identified by the Ontario Geological Survey (OGS) in their 1998-1999 rare metals evaluation of the region and are happy to have significant grounds that suggest the extension of the known mineralized pegmatite. High grade cesium, tantalum, and lithium oxide values have been reported at the surface of the exposed pegmatite which is open in all directions on our project."
Recently HLM conducted a channel sample verification program on the Pakeagama pegmatite, whereby procedures are being used to assess the pegmatite using NI43-101 standards. Independent geologists have indicated that this is a highly prospective target containing rare metal signatures similar to the Tanco Mine, located in neighbouring southeastern Manitoba. Cesium is produced primarily from the Tanco mine owned by Cabot Corporation which in the mid-1990's, accounted for approximately 82% of the reported world reserves. For more information on rare metals cesium and tantalum and HLM's Pakeagama Rare Metal Project please visit:
About Houston Lake Mining Inc.
HLM is a mining exploration company that is actively exploring for the rare metals cesium, tantalum, lithium and currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM has a total of 58,119,056 common shares issued and outstanding. For additional information, please visit www.houstonlakemining.com.
Company Contact Information
Henry J. Kloepper, CEO
2892 White Street
Val Caron, ON.
P3N 1B2 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.
To view this press release as a web page, click onto the link below:
Source: Houston Lake Mining Inc. (TSX-V: HLM) (Pink Sheets: HLKMF) www.houstonlakemining.com
Maximum News Dissemination by FSCwire. www.fscwire.com