Mountain Lake Provides Exploration Update on Little River Gold Property, Southern Newfoundland

Mountain Lake Resources Inc. report that field exploration work continues on the Little River Gold Property in southern Newfoundland and the Company is currently preparing access trails and trench sites for the next phase of sampling.

Analytical results from the 2009 soil geochemical survey, carried out to the northeast of the 2008 survey grid, have returned the highest gold values to date. The trenching and sampling program will focus on both the new mineral occurrences and additional zones of up to 400 metre long gold-arsenic-antimony soil geochemical anomalies (anomaly threshold 25 ppb Au with single point anomalies up to 755 ppb gold) that have been identified in the 2009 fieldwork as well as the favourable areas identified in 2008.

No historic drilling has taken place in the areas of these gold anomalies and occurrences. The analytical results from trenching samples will determine the drill targets for the initial phase of drilling this Fall.

Mountain Lake President and CEO Gary Woods stated, “It’s always exciting when a grass roots property responds to the initial phase of exploration. The results of both the 2008 and 2009 soil surveys are very encouraging and we expect the trenching program to generate several high-priority drill targets for the Fall program.”

The Little River Property, consists of 448 mining claims comprising 11,200 hectares over a strike length of ~33 kilometres (km) in the Baie D’Espoir area of southern Newfoundland. The Property is close to local population centres, is cross cut by major power lines, and can be accessed by way of the Bishop Falls to Harbour Breton highway and secondary roads and trails that exist on the Property. Mountain Lake has an option to earn a 100% interest in the Property.