Mountain Lake Resumes Drilling at Bobby's Pond to Test the Depth Extension of the Zn-Cu VMS Deposit



    
    Drilling plan includes a minimum of 5 holes and a minimum 2,700 meters

    PORT WILLIAMS, NS, March 29 /CNW/ - Mountain Lake Resources Inc.  (TSX-V:
MOA) ("Mountain Lake" or the "Company") is pleased to report that drilling is
about to resume on the Company's 100% owned Bobby's Pond base metal (Zn-Cu +
Pb-Ag-Au) project.
    The drilling program will include the further testing of the depth
extension of the known mineralized zone that extends for 300 meters vertically
and continues to remain open at depth. A minimum of 5 diamond drill holes are
planned for a minimum of 2,700 meters. The drilling contract has been awarded
to Springdale Forest Resources Inc. (Core Drilling Division) of Springdale,
Newfoundland.  Mr. Jamie Meyer, P.Geo., is the Qualified Person on the Bobby's
Pond project and has verified the contents of this news release.
    The table below summarizes the National Instrument 43-101 compliant
mineral resource estimate recently completed on the Bobby's Pond deposit by
Scott Wilson RPA, independent consulting geologists:

    Scott Wilson RPA; NI 43-101 Compliant Mineral Resource Estimate
    (January 2007)
    ---------------------------------------------------------------
    Lens   Category   Tonnes             Grade
                              Cu %  Zn %  Pb %  Ag g/t  Au g/t
    ---------------------------------------------------------------
       1  Indicated  585,000  1.00  5.78  0.37      12    0.20
       2  Indicated   65,000  0.98  5.70  0.45      19    0.17
       3  Indicated  210,000  0.72  7.92  1.02      41    0.36
    ---------------------------------------------------------------
    All
    lenses
          Subtotal
         Indicated   860,000  0.93  6.30  0.53      20    0.25
    ---------------------------------------------------------------
    Plus
    ---------------------------------------------------------------
       1  Inferred   265,000  1.15  5.04  0.38      12    0.19
       2  Inferred   202,000  1.01  8.18  0.37      20    0.18
       3  Inferred     2,000  0.57  5.36  0.49      14    0.09
       4  Inferred    11,000  0.37  4.96  0.34      12    0.25
    ---------------------------------------------------------------
    All
    lenses
          Subtotal
          Inferred   480,000  1.07  6.36  0.38      15    0.18
    ---------------------------------------------------------------

    For the purposes of National Instrument 43-101, the qualified person
responsible for the overall preparation of the January 2007 mineral resource
estimate and the associated Technical Report is Scott Wilson RPA Consulting
Geologist, Mr. Hrayr Agnerian, MSc (Applied), P.Geo. The details of the key
assumptions, parameters and methods used to estimate the mineral resources
were previously disclosed in the Company's new release dated February 7, 2007.
 The complete text of the Technical Report is available on SEDAR at
www.sedar.com.

    About the Bobby's Pond Project
    ------------------------------
    The Bobby's Pond project (Mining Lease 187/4881M) is located in the
Buchans area of central Newfoundland, renowned for the historic Buchans Mines
(Production 1928-1984) and host to several other active massive sulphide
projects.  The most advanced of the current projects is Aur Resources' Duck
Pond deposit, where test runs of the mining and milling operations are
underway leading to full production.  The Bobby's Pond deposit is located
approximately 45 kilometers west (by road) of the Duck Pond mine/mill
operation.

    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 100% interest in the Bobby's Pond
Base Metal Project; the Valentine Lake Gold Project, in which Richmont Mines
Inc. is earning a 70% interest; and a 17.2% stake in Etruscan Diamonds
Limited, a revenue generating alluvial diamond miner based in South Africa. 
For more information visit: www.mountain-lake.com

    ON BEHALF OF THE BOARD OF DIRECTORS
    s/"Allen Sheito"
    President & Chief Executive Officer

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
    RELEASE.
    




For further information:

For further information: corporate, media, or investor inquiries, please
contact: Greg Lytle, Lytle & Associates, Corporate Communications, N. America
toll-free: (866) 285-5817, Vancouver & International.: (604) 839-6946, Email:
lytleg@shaw.ca

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MOUNTAIN LAKE RESOURCES INC.

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