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Houston Lake Mining to Raise $1.0 Million in a Non-Brokered Flow-Through Private Placement SUDBURY, ON--(MARKET WIRE)--Apr 17, 2008 -- Houston Lake Mining Inc. (Other OTC:HLKMF.PK - News)
(CDNX:HLM.V - News), an advanced exploration company seeking gold,
platinum group
and rare metal deposits in Ontario, is pleased to report
that the Company
is raising a total of $1.0 million in a non-brokered flow-through
private
placement financing subject to regulatory approval. The
proceeds of the
private placement will be utilized to continue exploration
and drilling on
the Company's 100% owned and optioned gold properties located
near Kenora,
Ontario.
Houston Lake is offering up to 1,428,575 Units for total gross proceeds of $1.0 million. The 1,428,575 Units have a subscription price of $0.70 per Unit, each Unit being comprised of one Flow-through Common Share and one Purchase Warrant exercisable at $0.80 for a period of 24 months from the Closing Date. The offering has a hold period of four months and is subject to regulatory approval. About Houston Lake Mining Inc. Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake's objective in the short term is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 27,364,746 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com. Company Contacts Houston Lake Mining Linx Partners Ltd. E. Grayme Anthony P.Geo., MBA 877-369-5469 President and CEO Tel: 705-897-7622 Fax: 705-897-7618 ganthony@vianet.on.ca Forward-looking Statements The TSX Venture Exchange has not reviewed and does not accept 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. Distributed by Filing Services Canada and retransmitted by Marketwire Contact: Company Contacts
Houston Lake Mining
E. Grayme Anthony P.Geo., MBA
President and CEO
Tel: 705-897-7622
Fax: 705-897-7618
Email Contact
Linx Partners Ltd.
877-369-5469
Houston Lake Mining Inc.
2892 White Street
Val Caron, Ontario, Canada
P3N 1B2
Source: Houston Lake Mining Inc.
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