Mountain Lake Minerals Discovers News Antimony Vein at Little River and Resumes Trading

Wolfville - Mountain Lake Minerals Inc. (CSE: MLK) (“Mountain Lake” or the “Company”) is pleased to report the discovery of a new antimony-bearing quartz vein at its Little River Sb-Au property in southern Newfoundland.

Mountain Lake recently completed a targeted exploration program on its southernmost exploration license at its 100% owned Little River Property located near the south coast of Newfoundland. The company is pleased to report that as a result of this work it has discovered a new antimony vein in a part of the property previously unexplored by Mountain Lake. The vein was discovered near two previous grab samples reported by Vulcan Mineral in 2005 to contain 26,500 ppm Sb and 1,365 ppb Au, and 270 ppm Sb and 108 ppb Au respectively. This vein is on strike with another grab sample located ~1.3 km to the southwest and reported by Noranda in 1988 to contain 590 ppb Au, but was never analyzed for antimony. This vein is located approximately 750 m to the northwest of a ~200 meter wide, multi-vein, gold-antimony bearing system previously drilling by Mountain Lake Resources in 2010 and 2011. A preliminary interpretation suggests this discovery represents a separate vein system hosted within similar mappable lithologies as those located a further ~5.5 km to the northeast, which also host antimony-gold bearing veins. Mineral assemblages within this new vein closely resemble high grade Sb-Au mineralization observed from the No. 8 Vein at the LePouvoir claims near the north end of the Little River property and located ~22 km further northeast. Mountain Lake would like to acknowledge that laboratory assay results have not yet been received by the Company and therefore makes no prediction as to the grade of either antimony or gold that may be present.

The Company also wishes to report on December 4th it filed its Q3 Financial Statements (“FS”) and Management’s Discussion and Analysis (“MD&A”) with SEDAR and as a result the British Columbia Securities Commission revoked its Cease Trade Order resulting from late filing of FS and MD&A documents. As a consequence, Mountain Lake has resumed trading of its stock. Management regrets any inconvenience to its valued shareholders that may have resulted from this administrative oversight.


About Mountain Lake Minerals Inc.

Mountain Lake Minerals Inc. is a junior exploration company exploring for precious and base metal deposits. Mountain Lake’s current projects are located on the pro-mining island of Newfoundland and include: a 100% interest in the Glover Island gold exploration property and a 100% interest in the Little River gold-antimony exploration property.


ON BEHALF OF THE BOARD OF DIRECTORS

s/“Paul Smith”
President & CEO



For additional information, please contact:

Paul Smith, President & CEO
Mountain Lake Minerals Inc.
Phone: (902) 698-2662 or (647) 729-0311
Email: paul.smith@mountain-lake.com
Website: www.mountain-lake.com