HY LAKE GOLD EXERCISES OPTION WITH CLAUDE RESOURCES
TO OBTAIN 100% OF RED SUMMIT MINE PROPERTY
FOR IMMEDIATE RELEASE, January 15, 2010 – Toronto, Ontario.
Hy Lake Gold Inc. (CNSX: HYL; FRANKFURT: HYK) (“Hy Lake Gold” and “the
Company”) is pleased to announce that it has exercised its option to obtain a 100% interest in the
Red Summit Mine Property from Claude Resources Inc. (“Claude”) in Red Lake, Ontario.
Claude retains a 3% NSR, of which 1% is buyable by the Company for $500,000 (See news
release dated March 3, 2008). The Red Summit Mine Property is surrounded by the Company’s
Rowan Property optioned from Goldcorp’s Red Lake Gold Mines (“Goldcorp”) (See news
release dated December 13, 2007).
Prior to excercising the option, Hy Lake Gold completed a diamond drilling programme on the
Shaft Zone of the Red Summit Property. The programme consisted of 8 diamond drill holes
totalling 2259m. The primary purpose of the programme was to test the depth and strike
extension of Red Summit Shaft Zone mineralization. Eight holes were drilled in the vicinity of
the Red Summit underground workings, both along strike and below the workings (See news
release dated March 2, 2009).
Highlights:
• Red Summit Mine vein system open to depth and along strike to the east and west
• Additional drilling planned to target the extension of the Red Summit Mine veins
both along strike and at depth
• Drilling along strike and below the Red Summit Mine underground workings
intersects 116.64 grams of gold per tonne over 1.0 metres
• Hy Lake Gold meets the option requirements and exercises their option to obtain a
100% interest in the property from Claude
The Hy Lake Gold drill programme indicated the potential for high grade mineralization in the
vicinity of the Red Summit underground workings. High grade mineralization was intersected
on a 100 metre step out from the historic underground workings and indicates that the
mineralized zones extend beyond the historic workings. The zone remains open both at depth
and along strike and Hy Lake Gold is planning continued drilling at Red Summit as part of its
continuing exploration and development of its Red Lake properties.
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person
for Hy Lake Gold, who has reviewed this press release. Gold analyses of samples collected by
Hy Lake Gold were made by SGS Canada Inc., Mineral Services in Red Lake, Ontario.
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. The Hy Lake
Gold properties, totaling approximately 3,000 hectares, lie on the Pipestone Bay - St. Paul Bay
Deformation Zone and host the past producing Rowan Lake Gold Mine (Hy Lake Gold and
Goldcorp), the past producing Mount Jamie Mine (Hy Lake Gold) and the past producing Red
Summit Mine (Hy Lake Gold). The three mine properties cover a 12 kilometre unimpeded
exploration horizon along the west Red Lake Mine Trend. 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. To find out more about
Hy Lake Gold Inc. (CNSX: HYLK; FRANKFURT: HYK) visit our website at www.hylake.com.
There are 34,184,195 shares of the Company outstanding.
On behalf of the board:
Mr. Robert B. Seitz, President
office@hylake.com
"Je weniger die Leute wissen, wie Würste und Gesetze gemacht werden, desto besser schlafen sie." (Otto von Bismarck)
"Ein Dummkopf der zuviel weiß, ist gefährlicher als ein Unwissender!"
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