Houston Lake Mining Inc

Published : June 09th, 2016

HLM Issues Common Shares on Exercise of Stock Options for Proceeds of $196,000 Resulting in Management’s Ownership Exceeding 30% of the Company

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Keywords :   Canada | Growth | Iron | Lithium | Rubidium |

HLM Issues Common Shares on Exercise of Stock Options for Proceeds of $196,000 Resulting in Management’s Ownership Exceeding 30% of the Company

Sudbury, Ontario -June 9, 2016 - Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for rare metals lithium, tantalum, rubidium and cesium by currently advancing its 100% owned PAK Lithium Project in northwestern Ontario, Canada.

HLM is pleased to announce that all of the 1,400,000 stock options previously granted in 2011 at $0.14 per common share have been exercised for aggregate proceeds of $196,000. As a result of the exercise, the Directors and Officers (including related parties) of the company now represent over 30% ownership.

'I am pleased to announce the exercise of the options as it shows the confidence of management. The 30% ownership underscores the complete alignment of HLM's management and directors with its shareholders as the company works towards the completion of a pre-feasibility study in 2016,' commented Trevor R. Walker, President of HLM.

About the PAK Lithium Project
The PAK Lithium Project lies close to the boundary between two geological sub-provinces of the western Superior geologic province in northwestern Ontario and hosts a rare metals pegmatite deposit. The deposit is an LCT (lithium- cesium- tantalum) type pegmatite. These types of pegmatites have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world but there are comparatively few commercially-viable deposits.

HLM is actively exploring its 100% owned and optioned project which contains the Pakeagama Lake pegmatite. The deposit is one of the highest grade lithium deposits in North America which has a current Measured and Indicated Resource of 7.89 million tonnes of 1.73% Li2O Eq. and Inferred Resource of 295,600 tonnes of 1.35% Li2O Eq. which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). The deposit has adjacent zones that are enriched in rubidium and tantalum. HLM is also evaluating the phased co-production of tantalum and mica-product concentrates once lithium mineral production has been commercialized.

The deposit now has a known 500m strike length with an estimated true width varying from 10m to 125m with a sub-vertical orientation. The resource remains open to depth and along strike to the northwest and southeast.

About Houston Lake Mining Inc.
HLM's goal is to become a fully integrated lithium, rubidium and tantalum producer with development of the PAK Lithium Project in Ontario, Canada. Based on the PAK deposit's high-purity, technical-grade spodumene, a relatively lower capital requirement to enter in to the lithium supply market is possible by firstly becoming a technical-grade lithium concentrate supplier. HLM is focused on a staged approach to indirectly participate in the burgeoning lithium battery industry by taking advantage of the disruptive change to market fundamentals by targeting the ceramic-glass industry (industrial users). Currently, the glass/ceramics segment is the second largest in total lithium demand whereby supply pressure is taking place due to the threat of lithium battery growth.

HLM has a total of 122,393,940 common shares issued and outstanding. For additional information, please visit the company website at www.houstonlakemining.com.

Company Contact Information

Trevor R. Walker, President
2736 Belisle Drive
Val Caron, ON.
P3N 1B3 CANADA

T.+001 705.897.7622
F.+001 705.897.7618

Henry J. Kloepper, CEO
T. +001 416.520.0187

Forward-looking Statements
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 http://www.sedar.com

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Houston Lake Mining Inc

EXPLORATION STAGE
CODE : HLM.V
ISIN : CA4419241076
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Houston Lake Mining is a gold and palladium exploration company based in Canada.

Houston Lake Mining holds various exploration projects in Canada.

Its main exploration properties are PAKEAGAMA LAKE, TIB LAKE, WEST CEDARTREE and DUBENSKI (WEST CEDARTREE) in Canada.

Houston Lake Mining is listed in Canada. Its market capitalisation is CA$ 31.1 millions as of today (US$ 23.8 millions, € 21.6 millions).

Its stock quote reached its highest recent level on March 14, 1997 at CA$ 3.50, and its lowest recent point on December 31, 2012 at CA$ 0.03.

Houston Lake Mining has 124 410 644 shares outstanding.

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Annual reports of Houston Lake Mining Inc
2007 Annual Report
Financings of Houston Lake Mining Inc
8/17/2010Announces Closing of $250,000 Flow-Through Financing
7/6/2010$250,000 Flow-Through Financing
1/13/2010Closing of Additional $135,000 Flow-Through Financing
12/23/2009Closing of $500,000 Flow-Through Financing
9/30/2009Raises $325 000 in a Fistr Closing of a $500 000 Private Pla...
6/17/2009Raises $100,000 In A Private Placement Financing
1/8/2009Closes a $755,200 Private Placement
12/29/2008Announces $755,200 in a Flow-Through Financing
9/4/2008Raises $200,000 In A Private Placement Financing
8/25/2008Raises $800,000 In A Flow-Through Private Placement
5/20/2008Raises $168,600 in First Tranche of $1.25 Million Flow-Throu...
4/18/2008Raise $1.0 Million in a Non-Brokered Flow-Through Private Pl...
11/22/2007COMPLETES $255,010 EQUITY OFFERING
Nominations of Houston Lake Mining Inc
1/6/2010Appoints Interim President
7/20/2009Appoints Robert Callander As New Board Member
2/13/2008 Appoints Corporate Advisory Firm for Proactive Investor Rel...
Project news of Houston Lake Mining Inc
8/23/2010(West Cedartree)Announces Potential New Gold Zone is Confirmed by Channel Sa...
7/22/2010(West Cedartree)Drilling Crews Mobilized
7/20/2010(West Cedartree)Discovers Potential New Gold Zone
6/25/2010(Dubenski (west Cedartree))Intersects 4.58 g/t Gold Over 1.7 Metres
5/19/2010Intersects 32.82 g/ over 0.95 metres of New Horizon at Duben...
4/20/2010Intersects 5.70 g/t Gold Over 3.0 Metres on Dubenski Gold Pr...
1/22/2010(West Cedartree)High Grade Channel Samples Returned
12/2/2009(West Cedartree)Technical & Drilling Crews Mobilized to Houston Lake Mining'...
11/18/2009(West Cedartree)High Grade Channel Samples Returned Lake Mining’s West Ceda...
11/5/2009(Dubenski (west Cedartree))Update on Dubenski Gold Property
9/15/2009(Pakeagama Lake)Plans Fall Exploration Program
8/18/2009(Dogpaw Lake)Expands Width of Gold Mineralizat on in Channel Sampling at ...
6/26/2009(West Cedartree)IP Survey Extends Angel Hill Gold Trend To Over 3.3 Km
6/5/2009(West Cedartree)Discovering Gold In Ontario
5/20/2009(Dubenski (west Cedartree))Continues To Encounter High Grade Gold In Drilling Along The...
3/10/2009(Dubenski (west Cedartree))Drilling Continues to Expand Gold Mineralization at Houston ...
2/17/2009(Dubenski (west Cedartree))Intersects More Gold at Dubenski
2/2/2009(West Cedartree)Updates Exploration on the West Cedartree Gold Project
1/16/2009Dubenski Gold Property NI 43-101
12/9/2008(Dogpaw Lake)Intersects 1.5 Metres Grading 15.98 G/mt Gold At Dogpaw
11/12/2008(West Cedartree)Begins Phase 2 Drilling
4/23/2008(West Cedartree)Intersects 256.94 g/mt Gold Over A Core Length Of 3.0 Metres...
3/26/2008Intersects More High Grade Gold Mineralization at Dubenski S...
3/19/2008Intersects High Grade Gold in First Four Drill Holes at Dube...
3/11/2008(West Cedartree)IP Survey On West Cedartree Gold Project Extends
2/20/2008(West Cedartree)intersects 23m grading 4.66 g/mt Au
1/10/2008(West Cedartree)Winter Exploration Begins on Houston Lake Mining’s West Ceda...
12/6/2007(West Cedartree)SIGNS 5,000METRE DRILL CONTRACT TO INITIATE EXPLORATION PROG...
6/26/2007(Tib Lake)Drilling Starts on Houston Lake Mining's PGM Project
Corporate news of Houston Lake Mining Inc
6/9/2016HLM Issues Common Shares on Exercise of Stock Options for Pr...
4/5/2016HLM Raises $811,635 in Non Flow-Through Financing
1/21/2016HLM Raises $823,720 in Flow-Through Financing
1/20/2016HLM Raises $823,720 in Flow-Through Financing
1/12/2016Hlm Identifies 28 Metres Of 4.41% Li2o At Surface Across Its...
1/7/2016HLM Appoints Mike Tamlin as New Director
12/22/2015HLM Announces $750,000 Flow-Through Financing
12/18/2015HLM Commences Resource Estimate update for the PAK Lithium P...
12/18/2015Hlm Extends Eastern Extension On The Pak Lithium Project Int...
12/17/2015HLM Commences Resource Estimate Update for the PAK Lithium P...
12/15/2015HLM Extends Eastern Extension on the Pak Lithium Project Int...
9/15/2015PHASE IV DIAMOND DRILL PROGRAM COMMENCES ON THE PAK LITHIUM ...
9/8/2015HLM Drills Eastern Extension On The Pak Lithium Project Inte...
7/30/2015HLM Raises $566,000 in Financing Oversubscribed by 26%
7/14/2015HLM Announces $450,000 Financing
4/7/2015HLM Announces Exercise of Warrants for Proceeds of $641,763
3/23/2015HLM Advances Toward Proof of Concept with Bulk Sampling Prog...
3/6/2015Phase III Diamond Drill Program Commences On The Pak Rare Me...
1/28/2015HLM Announces an Upgraded NI 43-101 Resource Estimate for th...
1/28/2015HLM Announces an Upgraded NI 43-101 Resource Estimate for th...
1/12/2015HLM Raises $359,155 in Flow-Through Financing Oversubscribed...
12/19/2014HLM Announces $200,000 Flow-Through Financing
12/16/2014HLM Identifies Further High Grade Lithium At Surface Through...
12/16/2014HLM Identifies Further High Grade Lithium at Surface Through...
12/8/2014HLM Commences Resource Estimate update for the PAK Rare Meta...
12/8/2014HLM Commences Resource Estimate update for the PAK Rare Meta...
11/11/2014Hlm Drills The Pak Inferred Resource Intersecting 2.01% Lith...
11/11/2014HLM Drills the Pak Inferred Resource Intersecting 2.01% Lith...
9/24/2014HLM Drills beneath the PAK Inferred Resource Intersecting 1....
9/2/2014HLM’s Phase II Drilling Confirms and Extends High-Grade Lith...
7/24/2014HLM Increases Land Position by 43% to 4,032 Hectares Through...
6/11/2014HLM Electron Microprobe Study Indicates Low Inherent Iron Sp...
4/15/2014HLM Appoints Metallurgist Ernie J. Marcotte (P.Eng, FCIM) as...
3/26/2014HLM Completes 7-Hole, 1,500 Metre Phase II Diamond Drill Pro...
3/26/2014Hlm Completes 7-Hole, 1,500 Metre Phase II Diamond Drill Pro...
3/18/2014Diamond Drill Program Commences on the PAK Rare Metals Proje...
1/17/2012- 2011 President's Address
9/19/2011announces assay results on its Dogpaw Lake Property
9/19/2011Assay Results on Dogpaw Lake Property
7/20/2011Press Release, July 20, 2011
7/20/2011July 20, 2011
6/1/2011Minng Press Release, June 1, 2011
6/1/2011June 1, 2011
4/13/2011Press Release April 13, 2011
3/23/2011March 23, 2011
2/28/2011Reports 3rd Quarter Financials
2/25/2011Interview with Trevor Walker
11/27/2009Raises $1.000.000 in a Flow-Trough Financing
10/15/2009Update on The West Cedartree Gold Project
7/9/2009Kenora exploration activity at historic highs
6/11/2009Featured Gold Company for 2009
2/19/2009Discloses AGM Results
12/18/2008Completes Phase II Drilling On The Dubenski Gold Property
11/10/2008Participates in Chicago Resource Expo
9/19/2008Continues To Define More Gold Mineralization At West Cedartr...
9/11/2008Completes Drilling at Dogpaw Lake
8/7/2008Updates Exploration on West Cedartree
7/22/2008Steady Drill Results Continue to Add Value to West Cedartree...
5/27/2008Completes Drill Program On West Cedartree Gold Project
5/1/2008Provides An Update On Exploration At West Cedartree Gold Pro...
4/15/2008Continues To Intersect Significant Widths Of Gold Mineraliza...
2/1/2008 Exploration Update on Houston Lake Mining’s West Cedartree ...
12/18/2007Continues to Intersect Significant Gold Values in Channel Sa...
6/27/2007Extends Gold Zone and Completes Drill Program
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