Mountain Lake Provides Exploration Update on Little River Gold Property, Southern Newfoundland

Latest soil samples return highest gold values to date; trenching in progress

• Press Release
• Source: Mountain Lake Resources Inc.
• On 9:17 am EDT, Friday September 11, 2009

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Mountain Lake Resources Inc. (TSX-V: MOA - News) (“Mountain Lake” or the “Company”) is pleased to report that field exploration work continues on the Little River Gold Property (the “Property”) in southern Newfoundland and the Company is currently preparing access trails and trench sites for the next phase of sampling.

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Analytical results from the 2009 soil geochemical survey, carried out to the northeast of the 2008 survey grid, have returned the highest gold values to date. The trenching and sampling program will focus on both the new mineral occurrences and additional zones of up to 400 metre long gold-arsenic-antimony soil geochemical anomalies (anomaly threshold 25 ppb Au with single point anomalies up to 755 ppb gold) that have been identified in the 2009 fieldwork as well as the favourable areas identified in 2008.

No historic drilling has taken place in the areas of these gold anomalies and occurrences. The analytical results from trenching samples will determine the drill targets for the initial phase of drilling this Fall.

Mountain Lake President and CEO Gary Woods stated, “It’s always exciting when a grass roots property responds to the initial phase of exploration. The results of both the 2008 and 2009 soil surveys are very encouraging and we expect the trenching program to generate several high-priority drill targets for the Fall 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., is the Qualified Person on the Little River project and has reviewed and verified the contents of this news release.

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA - News) 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.

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

Lytle & Associates
Greg Lytle
North America toll-free: 866-285-5817
International & Vancouver: 604-839-6946
Email: info@mountain-lake.com