Next Phase of Exploration Underway at Mountain Lake`s Little River Gold Property

Strong gold-arsenic anomalies identified, sample assays pending, trenching and
drilling to follow
HALIFAX, Nova Scotia--(Business Wire)--
Mountain Lake Resources Inc. (TSX-V: MOA) ("Mountain Lake" or the "Company") is
pleased to report that field exploration work has commenced on the Little River
Gold Property (the "Property") in southern Newfoundland to prepare for the
Company`s initial phase of drilling.

Linecutting got under way last month and the soil sampling grid has been
extended to the northeast of the 2008 grid over and area of poorly delimited
historic soil anomalies. Very strong gold-arsenic soil anomalies were identified
in the northern portion of the 2008 grid and several impressive arsenopyrite
occurrences have been identified and sampled in this year`s follow-up program.
Assays are pending and gold is almost always associated with arsenopyrite on the
property, which is quite visible and easily identifiable.

No historic drilling has taken place in the areas of these anomalies and
occurrences. Upon receipt of the analytical results from the soil geochemical
survey, the Company plans to prospect and then trench and sample the priority
anomalies. The analytical results from trenching samples will determine the
drill hole locations for the initial drill program.

Mountain Lake would also like to extend its gratitude to the Newfoundland and
Labrador Department of Natural Resources, Mines and Energy Division, for its
approval of a $100,000 grant to contribute to the costs of this year`s Little
River exploration program through the Junior Exploration Assistance Program.

The Little River Property, consists of 448 mining claims comprising 11,200
hectares over a strike length of ~33 kilometres (km) in the Baie D`Espoir area
of southern Newfoundland. The Property is close to local population centres, is
cross cut by major power lines, and can be accessed by way of the Bishop Falls
to Harbour Breton highway and secondary roads and trails that exist on the
Property. Mountain Lake has an option to earn a 100% interest in the Property.

Mr. Gary Woods, P.Geo., President and CEO of Mountain Lake, is the Qualified
Person on the Little River Property, and has reviewed and verified the contents
of this news release.

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior mining and
exploration company whose corporate strategy is to build shareholder value
through the exploration and development of economically viable mineral
properties. Current projects include: a 30% interest in the Valentine Lake gold
project (Newfoundland) with and option to acquire the remaining 70% interest
from Richmont Mines Inc.; a 100% interest in the Bobby`s Pond base metals
project (Newfoundland) with an option to acquire initially a 51% interest in the
surrounding claims from Cornerstone Resources; an option to earn a 100% interest
in the Little River gold exploration property (Newfoundland); and a 13.07% stake
in Etruscan Diamonds Limited, an alluvial diamond operation (South Africa). For
more information visit: www.mountain-lake.com

For corporate, media, or investor inquiries, please contact:
Greg Lytle,
Lytle & Associates
North America toll-free: (866) 285-5817
International & Vancouver: (604) 839-6946
Email: info@mountain-lake.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/"Gary Woods"

President & CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

For corporate, media, or investor inquiries, please contact:
Lytle & Associates
Greg Lytle, North America toll-free: (866) 285-5817
International & Vancouver: (604) 839-6946
Email: info@mountain-lake.com

Copyright Business Wire 2009