Mountain Lake: Drilling Intersects Two High Grade Intervals Over 105 g/t (3 oz/t) Gold Within Broader 25 m Interval of 6.79 g/t 4/8/2010

HALIFAX, Nova Scotia - (Business Wire) Mountain Lake Resources Inc. (TSX-V: MOA) (“Mountain Lake” or the “Company”) is pleased to report significant intersections of high grade gold mineralization in the latest analytical results from the 33 hole drill program recently completed at the Leprechaun Deposit area of the Valentine Lake Gold Project (the “Project”), located in Central Newfoundland, Canada. Many of the new intersections are near surface and will add resource as they are outside of the current NI 43-101 compliant Leprechaun Deposit resource envelope. Visible gold in a thick quartz-tourmaline vein stockwork was observed in all 6 holes reported below

Marathon PGM Corp. (TSX: MAR) (“Marathon”) is the operator of the Project under the sub-option and joint venture agreement (“OJVA”) between Mountain Lake and Marathon. For more information on the OJVA see the news release of December 23, 2009.

Highlights:

* hole VL-10-160 returned the broadest interval with 6.79 grams per tonne (g/t) gold (Au) over a true width of 25 metres (m) from a starting depth of 152 m, and includes 19.43 g/t Au over a true width of 7 m
* VL-10-159 returned 2.78 g/t Au over a true width of 22 m from a starting depth of 32.7 m
* highest grade intervals were 113.3 g/t and 109.75 g/t Au both over true widths of 0.5 m, check assays confirmed these values returning 134.1 g/t and 105.7 g/t Au, which were averaged to 123.68 g/t and 107.74 g/t Au respectively (see table below)
* all holes with the exception of VL-10-160 intersected mineralization on the margin or outside the current resource envelope, which will reduce strip ratio and improve the potential for open pit mining
* analytical results from the remaining 7 of 33 holes are pending and drilling is set to resume next month

"Gold grades and intervals such as these are important because they will rapidly add ounces to the new resource," said David Good, VP of Exploration. "The gold mineralization is open along strike to the northeast and southwest, so we expect this system will get larger with more drilling."