Hy Lake Gold

Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) (“Hy Lake” and “the

Company”) is pleased to announce the results of the Phase 1 drill program

consisting of 16 drill holes in Red Lake, Ontario including the five (5) holes that

were previously announced on April 2, 2007. The former producing Jamie Frontier

property is situated on the “Red Lake Mine Trend”, west of the Gold Eagle Mine

and Goldcorp’s Red Lake and Campbell Mines.

• 37.7 g Au/t over 3.5 metres (1.1 oz Au/ton over 11.5 ft.)

• 35.1 g Au/t over 1.5 metres (1.0 oz Au/ton over 4.9 ft.)

• 35.0 g Au/t over 1.0 metres (1.0 oz Au/ton over 3.28 ft.)

• 6.8 g Au/t over 1.75 metres (0.2 oz Au/ton over 5.7 ft.)

Hy Lake Gold will launch an aggressive drilling program to drill for gold at greater

depths following the success of the recently completed 16-hole drill program. The

exploration drilling program will follow the pattern similar to the successful

exploration programs on the “Red Lake Mine Trend” at Gold Eagles Mines Ltd.

and the Goldcorp Inc. Red Lake Mine where deep drilling beneath existing gold

zones generated significant gold exploration success. Hy Lake Gold’s Jamie

Frontier property has historically been drilled to a depth of only 165 m compared

to the mines on the trend which have been drilled to depths exceeding 1500 m.

The following table summarizes the assay results of the recent 1,854 m, 16-hole drill program:

55.0 – 55.7 0.7 2.70 g Au/t 0.079 oz Au/ton

41.5 – 42.0 0.5 103.9 g Au/t 3.029 oz Au/ton (3.723 oz Au/ton)

42.0 – 42.5 0.5 0.42 g Au/t 0.012 oz Au/ton (0.026 oz Au/ton*)

35.0 – 35.5 0.5 9.15 g Au/t 0.267 oz Au/ton (9.54 g Au/t, 7.30 g Au/t)

35.5 – 36.0 0.5 0.67 g Au/t 0.020 oz Au/ton

36.0 – 36.5 0.5 215.3 g Au/t 6.279 oz Au/ton (9.873 oz Au/ton*)

36.5 – 37.0 0.5 0.26 g Au/t 0.007 oz Au/ton

37.0 – 38.0 1.0 2.90 g Au/t 0.085 oz Au/ton

145.5 – 146.0 0.5 <0.01 g Au/t <0.001 oz Au/ton

146.0 – 147.0 1.0 0.45 g Au/t 0.013 oz Au/ton

96.4 - 96.6 0.2 2.33 g Au/t 0.068 oz Au/ton (0.06 oz Au/ton)

39.0 - 39.5 0.5 0.36 g Au/t 0.010 oz Au/ton

68.80 - 69.00 0.20 0.17 g Au/t 0.005 oz Au/ton*

69.00 - 69.50 0.50 0.17 g Au/t 0.005 oz Au/ton* (1.93 g Au/t, 2.03 g Au/t)

69.50 - 69.70 0.20 2.02 g Au/t 0.059 oz Au/ton*

69.70 - 70.00 0.30 1.23 g Au/t 0.036 oz Au/ton*

70.00 - 70.25 0.25 5.45 g Au/t 0.159 oz Au/ton*

70.25 - 70.50 0.25 3.43 g Au/t 0.1 oz Au/ton*

146.00 - 146.75 0.75 0.03 g Au/t 0.001 oz Au/ton

146.75 - 147.25 0.50 0.4 g Au/t 0.012 oz Au/ton (0.009 oz Au/ton)

147.25 - 148.25 1.00 0.05 g Au/t 0.001 oz Au/ton

148.25 - 149.00 0.75 0.23 g Au/t 0.007 oz Au/ton

77.00 - 77.60 0.60 2.57 g Au/t 0.075 oz Au/ton*

77.60 - 78.15 0.55 3.12 g Au/t 0.091 oz Au/ton*

139.3 – 140.0 0.7 0.87 g Au/t 0.025 oz Au/ton (<0.001 oz Au/ton)

47.05 - 47.70 0.65 0.5 g Au/t 0.015 oz Au/ton

47.70 - 48.50 0.80 0.08 g Au/t 0.002 oz Au/ton

122.45 - 123.45 1.00 0.47 g Au/t 0.014 oz Au/ton (0.016 oz Au/ton)

123.45 - 124.00 0.55 1.27 g Au/t 0.037 oz Au/ton*

108.95 - 109.45 0.50 0.06 g Au/t 0.002 oz Au/ton

109.45 - 110.00 0.55 3.08 g Au/t 0.090 oz Au/ton

110.00 - 110.50 0.50 <0.01 g Au/t <0.001 oz Au/ton

110.50 - 111.50 1.00 0.03 g Au/t 0.001 oz Au/ton (<0.001 oz Au/ton)

111.50 - 112.50 1.00 <0.01 g Au/t <0.001 oz Au/ton

112.50 - 113.00 0.50 <0.01 g Au/t <0.001 oz Au/ton

113.00 - 113.65 0.65 0.02 g Au/t 0.001 oz Au/ton

113.65 - 114.10 0.45 0.75 g Au/t 0.022 oz Au/ton*

114.10 - 114.40 0.30 0.86 g Au/t 0.025 oz Au/ton*

114.40 - 114.70 0.30 0.27 g Au/t 0.008 oz Au/ton*

114.70 - 115.20 0.50 0.14 g Au/t 0.004 oz Au/ton*

115.20 - 116.00 0.80 0.06 g Au/t 0.002 oz Au/ton

* - Gold analysis by “metallics” method.

None of the intersection widths of the recent drilling should be construed as necessarily

representing a true width of the sampled material.

All drill holes were logged and sampled in Hy Lake’s facilities in Red Lake, Ontario. Analyses

were performed by SGS Mineral Services at their laboratory in Red Lake. Gold analyses were

performed by fire assay with AA finish on 30 g sample splits; however, high grade (>17 g Au/t)

samples were analyzed with a gravimetric finish. Check analyses for gold were performed on

approximately 10% of the samples submitted and selected samples were analyzed or checked

with a “metallics” or screen fire assay method. Additional check analyses, carried out by a

secondary laboratory, are pending.

Many of the diamond drill holes in the current program targeted areas of exploration potential to

the south of the Main Zone and along its strike extensions, particularly to the east. Where holes

the results confirmed the narrow, high grade character of the known mineralization. Favourable

geology and alteration (silicification) were encountered in many of the drill holes along with

low, but encouraging, values in gold. Holes HY-01-07, HY-04-07, HY-09-07 and HY-16-07 did

not return assay values over 0.17 g Au/t. HY-16-07 was abandoned at a depth of 38 m when it

entered previous underground workings.

Reference to the previous work and other technical details can be found in the Company's NI 43-

101 report prepared by Mr. Peter J. Vamos, P.Eng. This report is available from the Hy Lake

website and on SEDAR.

Hy Lake can earn a 75% working interest in the Mount Jamie Property by spending a total of

$1,000,000 on the property by January 19, 2010. The first and second years commitment to

expenditures have been completed.

The content of this release has been carried out under the supervision of Mr. John M. Siriunas,

P.Eng., the designated qualified person for Hy Lake; Mr.Siriunas is also a director and officer of

Hy Lake.

For further information, please contact Mr. Robert Seitz, President of Hy Lake, at 416-203-9181,

ext. 4500, or visit the Hy Lake website at www.hylake.com.

Hy Lake Gold Inc. (CNQ: HYLK; FRANKFURT: HYK) (“Hy Lake Gold” and “the Company”)

is pleased to announce that the Company has entered into an agreement to purchase a 100%

interest in the Mount Jamie property in Red Lake, Ontario.

Under the terms of the original property option agreement Hy Lake Gold could earn a 75%

working interest in the Mount Jamie property by making work expenditures totaling $1,000,000

on the property by January 19, 2010. The first and second year commitments to property work

expenditures, in the amount of $350,000, have been completed. Hy Lake Gold was required to

make third and fourth year property payments totaling 200,000 shares and $40,000 and was also

required to carry out the balance of the work commitment expenditures to have earned a 75%

interest in the property.

Under the new agreement Hy Lake Gold will acquire a 100% interest in the Mount Jamie

property immediately upon closing of a series of transactions. Hy Lake Gold will issue 2 million

shares as the consideration for the 100% property interest. In addition, the property payments

totaling 200,000 shares and $40,000 are being accelerated and will be paid on closing. The

property is subject to a 3% Net Smelter Royalty.

For further information, please contact Mr. Robert Seitz, President of Hy Lake, at 416-203-9181,

ext. 4500, or visit the Hy Lake website at www.hylake.com.