Private Placement Financing with the MineralFields Group Completed

Mountain Lake Resources Inc. (TSXV:MOA) is pleased to report that the non-brokered private placement financing announced December 16, 2011 has been closed to raise gross proceeds of $2,000,000 through the sale of 3,448,276 flow-through units at $0.58 per Unit to the MineralFields Group.

As quoted in the press release:

Each Unit consists of one flow-through common share and one-half of a transferable common share purchase warrant (the “Warrants”), with each full Warrant entitling the holder to purchase one additional common share at a price of $0.85 until June 22, 2013.

Limited Market Dealer Inc. received a cash finder’s fee of $100,000 in connection with this financing.

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