Mountain Lake Announces Initial NI 43-101 Resource Estimate for Its Glover Island Gold Project in Newfoundland

Mountain Lake Resources Inc. (TSXV:MOA) reported an indicated resource of 993,000 tonnes @ 1.72 g/t Au for 54,700 ounces gold, and an inferred resource of 1,703,000 tonnes @ 1.59 g/t Au for 87,300 ounces gold for the Lunch Pond area of its 100% owned Glover Island Gold Property in western Newfoundland.

As quoted in the press release:

Resource Estimate (In Pit) @ 0.5 g/t Au Cut-Off Grade (1)( 2)( 3):

• Indicated – 993,000 tonnes @ 1.72 g/t Au for 54,700 ounces gold
• Inferred –     1,703,000 tonnes @ 1.59 g/t Au for 87,300 ounces gold

1.Mineral resources which are not mineral reserves do not have demonstrated economic viability.  The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
2.The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
3.The mineral resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

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