Houston Lake Mining Receives Exchange Approval for $321,903 Non-Flow Through Private Placement

Houston Lake Mining Inc. (TSX-V: HLM) (the "Company") is pleased to report that the Company has received regulatory approval for the $321,903.48 private placement financing announced on December 12, 2006. The proceeds of the private placement will be utilized in addition to $945,050 raised in three separate Flow-Through financings during the month of December for a total of $1,266,953.48 to advance exploration on the Company's 100% owned and 100% optioned 862 hectare (2129 acre) West Cedartree Gold Project located near Sioux Narrows, Ontario and for Working Capital purposes to fund future acquisitions.

The financing is comprised of 459,861 Units at a price of $0.70 per Unit for maximum gross proceeds of $321,903.48 subject to regulatory approval. Each Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable at a price of $0.90 for a period of two years from the date of closing (December 12, 2008). The offering has a hold period which expires on April 13, 2006. The finders fee has been reduced by mutual agreement from $28,971.31 to $2,867.00 (or 9.0%) to reflect only that portion of the financing raised in Canada.

About Houston Lake Mining Inc.

Houston Lake's objective in the short term is to become a gold producer by surface mining our West Cedartree gold project and apply the profits towards the development of our 100% owned and optioned northwestern Ontario properties. The Company has a total of 23,280,234 common shares issued. For additional information, we invite you to visit us at www.houstonlakemining.com.

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 Market Wire

Company Contacts:

A. Schwab & Associates
Investor Relations
1-800-537-4099 (toll-free)
Email Contact

E. Grayme Anthony B.Sc., P. Geo., FGAC, MBA
President & CEO
Tel: (705) 897-7622
Fax: (705) 897-7618
Email Contact

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here