HLM

Houston Lake Mining Inc. (PINKSHEETS: HLKMF) (TSX-V: HLM) (the "Company") is pleased to announce that the Company has raised $755,200 through the sale of 2,517,332 Flow-Through Units priced at $0.30 per unit in a non-brokered private placement with the Mineralfields Group and NovaDX Ventures Inc. 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 $0.35 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 which expires on April 23, 2009. An aggregate finder's fee of $45,012 (6% of the gross proceeds), due diligence fee of $15,004 (2% of the gross proceeds) and 200,053 agents' options (8% of the total issuance) was paid pursuant to the offering. Each agent option is exercisable at an exercise price of $0.30 into one common share and one-half of one broker warrant for a period of two years, with each whole broker warrant exercisable at a price of $0.35 into one common share for a period of two years.

"With sufficient funds in place we are focused on the expanding our gold resources at West Cedartree and moving closer toward our goal of justifying an on-site mill," said E. Grayme Anthony, President and Chief Executive Officer. "We continue to make progress on our property with an NI 43-101 report due out in January. We have reported some excellent exploration results from Phase I drilling and I am looking forward to reporting results from our Phase II program early in the New Year."

West Cedartree Exploration

Technical crews are back at work logging and sampling the remainder of the Phase II 22 hole, 2,232m (7,321 ft.) diamond drill program that was completed in the vicinity of the Shaft Zone. The Shaft Zone forms a significant portion of the Dubenski historic gold resource of 355,286 tonnes grading 6.32 g/mt gold (391,636 tons averaging 0.184 oz/st gold). The current drill program aims to expand the Shaft Zone resource from the Phase I drilling carried out earlier this year. A total of 205 core samples were shipped by December 18, 2008. Results are expected in 3 to 5 weeks and will be announced as soon as they are received.

Consulting geologists Watts Griffis and McOuat (WGM) of Toronto managed the drill program at Dubenski and have been contracted to complete an NI 43-101 report on the Shaft Zone resource. The NI 43-101 compliant Technical Report and Mineral Resource Estimate is expected in the next few weeks. Results from the Phase II drill program will not be considered in the WGM report.

A deep IP survey was conducted in February and March of 2008 by Matrix GeoTechnologies Ltd. ("Matrix") of Toronto. The survey identified a strong conductive anomaly that is continuous for over 1,200 metres (3,936 ft.) and coincides with the Shaft, Central and East Zones of Dubenski. 3D modeling by Matrix appears to confirm that chargeability responses associated with the resistivity anomaly at Dubenski appear to strengthen with depth and may indicate the possible down plunge extension of the Shaft Zone mineralization on the property. Line-cutting crews are currently reestablishing grid lines so that the Matrix deep IP survey can be expanded further to the west.

Due Diligence

All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples taken from the core of the mineralized zone were analyzed utilizing a screen metallic assay method. This methodology provides a higher level of assurance by testing a large quantity of sample (1,000g) and by monitoring the size distribution of the gold. Samples taken from the shoulders of the mineralized zone were analyzed by fire assay utilizing a 50 gram charge. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold were retested utilizing a gravimetric finish. The samples will also be re-checked at a second qualified laboratory in keeping with the Company's standard due diligence procedures.

The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.

A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.

E. Grayme Anthony, P. Geo., President of the Company, is the Qualified Persons under the guidelines of NI 43-101 for the technical aspects of this news release.

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 33,716,213 common shares issued exclusive of the announced financing. For additional information, we invite you to visit us at www.houstonlakemining.com.

Company Contacts

Houston Lake Mining                In Canada:      Linx Partners Ltd.
E. Grayme Anthony  P.Geo., MBA     Wanda Cutler    Tel: 416-303-6460
President and CEO
Tel: 705-897-7622
Fax: 705-897-7618               In United States:  ICS
ganthony@vianet.on.ca           George Duggan      Tel: 818-542-6880

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.

www.houstonlakemining.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