Moss Lake announces private placement for gross proceeds of up to $1,200,000



    TORONTO, Oct. 15 /CNW/ - Moss Lake Gold Mines Ltd. ("Moss Lake") is
pleased to announce its intention to raise up to $1,200,000 by way of a
non-brokered private placement (the "Offering") of a maximum of 2,424,242
common shares issued on a flow-through basis pursuant to the Income Tax Act
(Canada) (each a "Flow-Through Share") at a price of $0.33 per Flow-Through
Share and a maximum of 1,600,000 units (each a "Unit") at a price of $0.25 per
Unit to certain purchasers. Each Unit will consist of one common share (each a
"Common Share") and one-half of one common share purchase warrant (each whole
warrant, a "Warrant"), each Warrant entitling the holder thereof to acquire
one Common Share upon payment of $0.40 per Common Share for a period of twenty
four months from the closing of the Offering. The Offering remains subject to
the approval of the TSX Venture Exchange.
    Moss Lake may pay a finder's fee, payable in cash and/or warrants, to
certain entities in connection with introductions of investors made by the
finders, such finder's fees to be paid in accordance with TSXV policies.
    The proceeds from the Offering will be used for general corporate
purposes and further development of the Moss Lake gold property in Northern
Ontario.

    Moss Lake Gold Mines Ltd trades on the TSX-V under the symbol "MOK" and
has 39.6 million shares issued and outstanding.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: George Mannard, President, or Donovan Pollitt,
VP Corporate Development, 8 King St. East, Suite 1305, Toronto, ON, M5C-1B5,
Toll Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax: (416) 360-7620, Email:
info@mosslakegold.com, Website: www.mosslakegold.com

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Moss Lake Gold Mines Ltd.

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