SUDBURY, ONTARIO--(MARKET WIRE)--May 15, 2008 -- Houston Lake Mining Inc. (Other OTC:HLKMF.PK - News) (CDNX:HLM.V - News) (the "Company") is pleased to report that the Company has raised $750,000 through the sale of 1,250,000 Flow-Through Units priced at $0.60 per unit in a non-brokered private placement with the Mineralfields Group. Each Flow-Through Unit consists of one flow-through common share and one half of one common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of $0.70 for 24 months from closing. Proceeds from the financing will be used to advance Houston Lake's 100% owned and 100% optioned gold properties located near Kenora, Ontario.

All securities issued in connection with this financing have a hold period of 4 months. A finder's fee of $45,000 (6% of the gross proceeds) and 100,000 agents' options (8% of the total issuance) was paid pursuant to the offering. Each agent option is exercisable at an exercise price of $0.70 into one common share and one broker warrant for a period of two years, with each broker warrant exercisable at a price of $0.70 into one common share for a period of two years.

"We are very pleased to be continuing our relationship with MineralFields Group," said Grayme Anthony, President and CEO. "We look forward to working with MineralFields Group as we continue to develop our holdings at West Cedartree."

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

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 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 exclusive of the announced financing. For additional information, please visit us at www.houstonlakemining.com.

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.

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     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.
     Wanda Cutler
     Tel: 416-303-6460