NEWS RELEASE Toronto: November 29, 2010
HY LAKE GOLD OPTIONS ADDITIONAL PROPERTY FROM RUBICON
Hy Lake Gold Inc. (CNSX: HYL; FRANKFURT: HYK) is pleased to announce that the Company has
entered into a Purchase Option Agreement with Rubicon Minerals Corporation of Vancouver, B.C.
Canada. This property adds to the four-claim South Jamie property currently under purchase option from
Rubicon (see news release dated March 3, 2008).
The option covers two contiguous unpatented mining claims (KRL3017000 and KRL3017001) totalling
approximately 90 hectares in Todd Township, District of Kenora, Ontario Canada. The claims are located
within the Rowan Lake property, in which the Company has a Joint Venture interest with Goldcorp’s Red
Lake Gold Mines (see Figure 1). The acquisition of these claims adds an important piece to the regional
exploration model under development by Hy Lake Gold.
Under the terms of the option, Hy Lake Gold will earn a 100% ownership interest in the property by
making total payments of $125,000 and 100,000 Company shares over four years. Rubicon will retain a
2% NSR, 50% of which can be purchased by the Company for $1,000,000.
Hy Lake Gold Vice President, Exploration Vadim Galkin commented: "The acquisition of this property is
very important for Hy Lake from an exploration standpoint. To the south it borders the untested area
between the West Red Lake Zone and Rowan Main Zone and has potential for vein type gold
mineralization extension to the north. Historical geophysical data also looks very encouraging. A
magnetometer and horizontal loop survey conducted by Pipestone Bay Resources (1983) outlined several
geophysical anomalies on the property that were attributed to conductive and magnetic iron formation.
Immediately to the west of these claims, a number of east-southeast trending conductive zones were
mapped by Induced Polarization survey of ...www.hylake.com/News/...029%20HYL%20News%20Rubicon%20Option.pdf
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