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© Copyright 2010 | Mountain Lake Resources Inc. | all rights reserved
Company News
Initial Barge Drilling Hits More Near Surface Gold
September 1, 2010 (PDF)
Mountain Lake Terminates Aquisition of New Island
Latest Results Confirm the Leprechaun Deposit has a High Grade Heart of Gold
Initial Met results on core from Leprechaun demonstrate gold recoveries exceeding 90%
Results confirm extension of new zone of Au mineralization along strike and at depth
Latest results include 33.54 g/t (0.98 oz/ton) gold over 4 metres at Leprechaun
Drilling intersects 38.32 g/t (1.12 oz/t) over 9 metres at Leprechaun
Corporate check list:
- Working Capital - $3.25 million (programs fully funded into 2011)
- Low share float - 36 million shares issued and outstanding
- Management - accomplished in both exploration and development
- Shareholders - institutional investors ~31%; management ~5%
- Drilling - 8,000 metre program in progress on flagship gold project
- Opportunity - projects with large scale potential
- Political stability - Focused on the island of Newfoundland; ranked 8th in the world by the Fraser Institute for mining friendly policy
While the global economic downturn forced many exploration companies to retrench, Mountain Lake committed to an invigorated plan for growth and asset development. Management is equally committed, during this uncertain period in the capital markets, to continue its preservation of the Company's structure and the avoidance of excessive shareholder dilution.
Again, we welcome you to the Mountain Lake website. This is an exciting period of growth and development and we encourage you to peruse the rest of the website to learn more about the Company.
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Welcome
Mountain Lake Resources is a Canadian based exploration company active with both advanced stage resource development and discovery stage projects. Our projects offer exposure to gold and base metals with the current focus on gold exploration on the island of Newfoundland.
