$250,000 Shares for Debt Financing Proposed

Sudbury, Ontario – February 1, 2013 - Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for the rare metals lithium, cesium, tantalum, and rubidium by currently focusing on its 100% owned and optioned Pakeagama Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to report that it has received a positive response from two creditors concerning a Shares for Debt Financing. HLM proposes to issue up to 5,000,000 common shares at a price of $0.05. The financing is subject to regulatory approval and would have a hold period of four months.

$200,000 of debt is owed to a company owned by one “non-arm’s length” individual. The non-arm’s length portion of the proposed financing is therefore 4,000,000 common shares at a price of $0.05 per share. The $50,000 debt is owed to one “non-arm’s length” individual. This non arm’s length portion of the financing is therefore 1,000,000 common shares at a price of $0.05 per share.

Management believes that the proposed Shares for Debt financing will strengthen the balance sheet and increase the attractiveness of the Company for future financings.

The Company also announces that under its stock option plan it has granted 2,000,000 stock options to officers, directors, employees and consultants of the Company. The options are set for a period of five years, expiring on February 1, 2018. The options are priced at $0.10 and are subject to regulatory approval.

Back Next Article Previous Article

About Frontier Lithium Inc.
HLM’s goal is to become a fully integrated lithium, rubidium and tantalum producer with development of the PAK Lithium Project in Ontario, Canada. Based on the PAK deposit’s high-purity, technical-grade spodumene, a relatively lower capital requirement to enter in to the lithium supply market is possible by firstly becoming a technical-grade lithium concentrate supplier. HLM is focused on a staged approach to indirectly participate in the burgeoning lithium battery industry by taking advantage of the disruptive change to market fundamentals by targeting the ceramic-glass industry (industrial users). Currently, the glass/ceramics segment is the second largest in total lithium demand whereby supply pressure is taking place due to the threat of lithium battery growth.

Company Contact Information
Trevor R. Walker, President
2736 Belisle Drive
Val Caron, ON.
T.+001 705.897.7622
F.+001 705.897.7618

Forward-looking Statements
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 release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at http://www.sedar.com

Get all the latest on Frontier Lithium

Stay informed and sign up for our electronic newsletter. Add your email to our list.