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HY LAKE GOLD REPORTS 47.22 GPT GOLD FROM INITIAL SURFACE SAMPLES
AT RED SUMMIT PROPERTY
FOR IMMEDIATE RELEASE, MAY 15, 2008 – Toronto, Ontario.
Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) (“Hy Lake Gold” and “the Company”) is
pleased to announce results from the initial work completed on the recently acquired Red Summit Mine
property. This property was acquired from Claude Resources (“Claude”), who own the past producing
Madsen Mine, also in the Red Lake District (see news release dated March 3, 2008).
Highlights:
· Initial surface grab samples of ore stockpile material ranged from 0.22 grams per tonne
(gpt) Au to 47.33 gpt Au
· Average of six samples returned 10.45 gpt Au
· Surface drilling has commenced to test the downdip extension of the previously mined zones
· Ore stockpile of more than 1000 tonnes remains on the Red Summit Mine property
Initial exploration results from the Red Summit Mine property have produced some very significant
results. Six samples were collected from the historic surface ore stockpile of the Red Summit Mine with
values ranging from 0.22 gpt Au to 47.33 gpt Au. The average of the six samples returned a value of
10.45 gpt Au. The 47.33 gpt sample is an average of two pulps.
Surface drilling has commenced on the Rowan and Red Summit properties. Additional information will
be released as it becomes available.
A recent site visit was completed at the Red Summit Mine property with management, consultants and
senior geological staff. The ore stockpile was re-evaluated and it is estimated that there is more than 1000
tonnes of ore on the stockpile.
The following table reports the results of the initial six grab samples off of the Red Summit Mine ore
stockpile:
Au - gpt
Fire Assay - Gravimetric
823951 1.71
823952 8.50
823953 2.50
823954 1.99
823955 0.22
823956 ** 47.33
**
Average of
two pulps
Red Crest Gold Mines Limited (Red Summit Mine) was incorporated in May 1934 to acquire a group of 7
claims. The original 7 claims were reduced to 2. The 5 claims that came open were staked by Goldcorp
and are part of the Rowan option. The original claims were staked in 1930 to cover a zone of fracturing
and shearing with quartz veins up to six feet in width that were exposed in a series of surface trenches.
The zone occurs along or proximal to a small stock of quartz diorite to the north and Balmer greenstones
to the south.
A mining plant and a small 5-ton mill were installed in late 1935. By late 1936 a 3-compartment shaft had
been completed to 300 feet and levels established at 150 and 275 feet. From 1936 to 1938 the shaft was
deepened to 600 feet with levels at the 425 and 575 foot horizons (See Figures 1, 2 and 3 below).
Historically, gold values are associated with a coarse, bronzy pyrite, which generally occurs in bluishgrey
quartz veins or in the shattered walls along the margins of these veins. In the underground workings,
a strong vein system striking North 45 degrees W and dipping 63-70 degrees northeast persists for more
than 500 feet.
The Hy Lake Gold properties lie on the Pipestone Bay - St. Paul Bay Deformation zone and host the past
producing Rowan Lake Gold Mine (Hy Lake Gold/Goldcorp), the past producing Mount Jamie Mine (Hy
Lake Gold) and the past producing Red Summit Mine (Hy Lake Gold). The properties, which have been
explored only to very shallow depths, are underlain by the same geology and structure as these three past
producers and have been subjected to limited underground exploration. The properties host numerous
gold occurrences, which have seen limited drill testing, and potential exists to expand upon these gold
mineralized zones both along strike and at depth.
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for Hy
Lake Gold, who has reviewed this press release. Gold analysis of samples were assayed by Laboratoire
Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic
absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish.
Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality
Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and Rocklabs
Standards and duplicate checks.
Hy Lake Gold is a junior exploration company focused on the gold exploration and development business
in the prolific Red Lake mining district of northwestern Ontario, Canada. Hy Lake Gold has assembled
several significant property packages totalling approximately 3,000 hectares in west Red Lake. The
properties cover a 10 kilometre distance along the west Red Lake Trend, containing 3 former producing
gold mines, and the Company intends to explore these properties both along strike and at depth. To find
out more about Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) visit our website at
www.hylake.com.
There are 21,649,196 shares of the Company outstanding.
On behalf of the board:
Mr. Robert B. Seitz, President
office @ hylake.com
Link:
www.cnq.ca/Storage/1149/...LEASE_200800514_surface_samples.pdf
AT RED SUMMIT PROPERTY
FOR IMMEDIATE RELEASE, MAY 15, 2008 – Toronto, Ontario.
Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) (“Hy Lake Gold” and “the Company”) is
pleased to announce results from the initial work completed on the recently acquired Red Summit Mine
property. This property was acquired from Claude Resources (“Claude”), who own the past producing
Madsen Mine, also in the Red Lake District (see news release dated March 3, 2008).
Highlights:
· Initial surface grab samples of ore stockpile material ranged from 0.22 grams per tonne
(gpt) Au to 47.33 gpt Au
· Average of six samples returned 10.45 gpt Au
· Surface drilling has commenced to test the downdip extension of the previously mined zones
· Ore stockpile of more than 1000 tonnes remains on the Red Summit Mine property
Initial exploration results from the Red Summit Mine property have produced some very significant
results. Six samples were collected from the historic surface ore stockpile of the Red Summit Mine with
values ranging from 0.22 gpt Au to 47.33 gpt Au. The average of the six samples returned a value of
10.45 gpt Au. The 47.33 gpt sample is an average of two pulps.
Surface drilling has commenced on the Rowan and Red Summit properties. Additional information will
be released as it becomes available.
A recent site visit was completed at the Red Summit Mine property with management, consultants and
senior geological staff. The ore stockpile was re-evaluated and it is estimated that there is more than 1000
tonnes of ore on the stockpile.
The following table reports the results of the initial six grab samples off of the Red Summit Mine ore
stockpile:
Au - gpt
Fire Assay - Gravimetric
823951 1.71
823952 8.50
823953 2.50
823954 1.99
823955 0.22
823956 ** 47.33
**
Average of
two pulps
Red Crest Gold Mines Limited (Red Summit Mine) was incorporated in May 1934 to acquire a group of 7
claims. The original 7 claims were reduced to 2. The 5 claims that came open were staked by Goldcorp
and are part of the Rowan option. The original claims were staked in 1930 to cover a zone of fracturing
and shearing with quartz veins up to six feet in width that were exposed in a series of surface trenches.
The zone occurs along or proximal to a small stock of quartz diorite to the north and Balmer greenstones
to the south.
A mining plant and a small 5-ton mill were installed in late 1935. By late 1936 a 3-compartment shaft had
been completed to 300 feet and levels established at 150 and 275 feet. From 1936 to 1938 the shaft was
deepened to 600 feet with levels at the 425 and 575 foot horizons (See Figures 1, 2 and 3 below).
Historically, gold values are associated with a coarse, bronzy pyrite, which generally occurs in bluishgrey
quartz veins or in the shattered walls along the margins of these veins. In the underground workings,
a strong vein system striking North 45 degrees W and dipping 63-70 degrees northeast persists for more
than 500 feet.
The Hy Lake Gold properties lie on the Pipestone Bay - St. Paul Bay Deformation zone and host the past
producing Rowan Lake Gold Mine (Hy Lake Gold/Goldcorp), the past producing Mount Jamie Mine (Hy
Lake Gold) and the past producing Red Summit Mine (Hy Lake Gold). The properties, which have been
explored only to very shallow depths, are underlain by the same geology and structure as these three past
producers and have been subjected to limited underground exploration. The properties host numerous
gold occurrences, which have seen limited drill testing, and potential exists to expand upon these gold
mineralized zones both along strike and at depth.
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for Hy
Lake Gold, who has reviewed this press release. Gold analysis of samples were assayed by Laboratoire
Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic
absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish.
Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality
Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and Rocklabs
Standards and duplicate checks.
Hy Lake Gold is a junior exploration company focused on the gold exploration and development business
in the prolific Red Lake mining district of northwestern Ontario, Canada. Hy Lake Gold has assembled
several significant property packages totalling approximately 3,000 hectares in west Red Lake. The
properties cover a 10 kilometre distance along the west Red Lake Trend, containing 3 former producing
gold mines, and the Company intends to explore these properties both along strike and at depth. To find
out more about Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) visit our website at
www.hylake.com.
There are 21,649,196 shares of the Company outstanding.
On behalf of the board:
Mr. Robert B. Seitz, President
office @ hylake.com
Link:
www.cnq.ca/Storage/1149/...LEASE_200800514_surface_samples.pdf
