Below is IMHO a very interesting Mountain Lake NR confirming the discovery of good grades of Antimony on their Little River property in Newfoundland, Canada. All bolded / underlined text is by me to indicate what I feel is of great interest.

The large Beaver Brook deposit has been bought out by the Chinese and I assume they want to keep their monopoly over Antimony sales. SO where does this leave Silverado's 2 large high grade / high purity Antimony & Gold properties ( Nolan & Eagle Creek )? I feel it woud sure be short sighted for the US to let the Chinese also buy all of Silverado's highly desirable Antimony.

IMHO I believe Silverado could be a major supplier of Antimony to North America. Being Antimony ingot price has increased 3 times this year from $4k to $12k / ton maybe someone in US Government is paying attention.

MISH

Beaver Brook is one of the largest antimony deposits in the world, the only primary antimony mine in Canada or the United States, and the largest outside of China. Hunan Nonferrous Metals Corp., the largest integral metals producer in China by production volume excluding aluminum, acquired 100% of the Beaver Brook Mine in October 2009.

Filing Services Canada |

FSC / Press Release


Drill Results Confirm Antimony in Two Areas of Interest at Mountain Lake's Little River Property, Newfoundland

A total of 18 shallow holes were drilled; sampling returned values up to 2.58 g/t gold over 0.5 m and 30.6% antimony over 1 m

Halifax, Nova Scotia CANADA, December 21, 2010 /FSC/ - Mountain Lake Resources Inc (MOA - TSX Venture, MLKRF - OTCBB_Pink_Sheets), ("Mountain Lake" or the "Company") is pleased to report that analytical results from the latest drill program confirm two areas ("Zones") of interest on the Little River Gold-Antimony Property, located in southern Newfoundland. The Little River Property (the "Property") has a strike length of ~31 kilometres (km) and Mountain Lake has an option to earn a 100% interest in the Property.

A total of 301 metres (m) were drilled in 5 short holes in the Le Pouvoir Zone, which is located in the northeast area of the Property. These holes were drilled in the vicinity of the partially exposed antimony + gold (Sb+Au) vein, where 6 grab samples from a vein exposed in shallow pits over a 40 m length during this past summer's prospecting campaign returned values from 27.6% to 50% Sb with Au values up to 24.1 grams per tonne (g/t), (see news release of September 8: http://www.mountain-lake.com/2010_MOA_news/MOA-NR-090810_LR_Fieldwork.html). The best intercept occurred in drill hole LR-10-16, which contained a 0.92 m interval (all widths are true widths) of 30.6% Sb at a vertical depth of 18 m. Hole LR-10-18, the most northerly hole drilled 100 m to the north of LR-10-16, encountered a 0.5 m interval of 0.52% Sb and a 0.64 m interval of 0.11% Sb, both between 30 and 33 m vertical depth. The highest gold value encountered in this area was 0.25 g/t.

A total of 299 m were drilled in 5 short holes in the Southern Zone located 21 km southwest of the Le Pouvoir Zone. Antimony was encountered in 3 of the holes. Hole LR-10-13 encountered a 3.6 m zone (from 42.9 to 46.5 m downhole) containing 1.13% Sb and 0.4 g/t Au including a 0.5 m interval of 6.3% Sb; and a separate interval (from 48.5 to 49 m) containing 2.58 g/t Au and 1.81% Sb. Holes LR-10-11 and -12, the nearest holes, were drilled 200 m south of LR-10-13. LR-10-11 encountered a 0.5 m interval of 4.01% Sb and 0.98 g/t Au and LR-10-12 encountered several zones with Sb values of 0.87% / 0.7 m, 0.44% / 0.62 m and 0.78% / 0.4 m.

Gary Woods, President and CEO of Mountain Lake commented, "The intervals of high grade antimony are significant and are typical of the material being mined at the Beaver Brook Antimony Mine situated 80 km to the north of the Le Pouvoir Vein Zone."

Beaver Brook is the only primary Sb mine in North America. The alteration assemblage associated with the Sb veins at both Beaver Brook and the Le Pouvoir Zone is sericite and chlorite, with significant fuchsite. The mineralization at Beaver Brook is found in narrow veins and breccia zones. The nature of the narrow, high grade mineralized intervals in some of the early drill holes at the Beaver Brook property can be viewed on the Newfoundland and Labrador Department of Natural Resources (NLDNR) website at:
http://gis.geosurv.gov.nl.ca/mods/ModsCard.asp?NMINOString=002D%2F11%2FSb+001

Mountain Lake plans to continue to follow up on both of these Zones at the earliest opportunity next year as well as on yet untested areas where interesting Sb and Au values have been encountered in the soil sampling and trenching programs situated between the two Zones of interest which were drilled this year.

Mountain Lake would again like to extend its gratitude to the NLDNR, Mines and Energy Division, for its continued support through the Junior Exploration Assistance Program and the approval of a $100,000 grant to offset some of this year's exploration costs on the Little River Project.

Gary Woods, P.Geo., is the Qualified Person on the Little River Property, and has reviewed and verified the contents of this news release.

About Antimony

Antimony can occur in its native form, but is usually found in other minerals and most commonly in the mineral stibnite. A silvery-white crystalline metal, antimony is used to increase hardness and strength of metal alloys. Antimony and its compounds are widely used in the production of batteries, bullets, cable sheathing, flame-proofing compounds, glass, ceramics, paints, pottery and in the semiconductor industry. According to the USGS - Mineral Commodity Summaries 2010 (http://minerals.usgs.gov/minerals/pubs/mcs/2010/mcs2010.pdf), China was the world's leading producer of antimony in 2009 having produced 90% of the estimated 187,000 tonnes of total global output. The latest available (Dec 14) bid price for a tonne of antimony (99.6% pure ingot) is US$ 12,000 (source: MinorMetals.com: http://www.minormetals.com/default.aspx?ReturnUrl=%2findex.aspx).

About the Little River Property

Mountain Lake has an option to earn a 100% interest in the Property, which consists of 382 mining claims comprising 9,550 hectares over a strike length of ~31 km in the Baie D'Espoir area of southern Newfoundland. The Property is close to local population centres, is cross cut by major power lines, and can be accessed by way of the Bishop Falls to Harbour Breton highway and secondary roads and trails that exist on the Property.

Although originally optioned for its numerous gold occurrences, Mountain Lake continues to encounter interesting antimony values on the Property as well; and antimony (stibnite) bearing veins having now been identified over a 20 km strike length. The antimony vein in the northeastern portion of the Property ( the "Le Pouvoir Zone") is of particular interest as it is significantly larger than the vein that was initially discovered in 1989 on the Beaver Brook property ~80 km to the north. That discovery resulted in extensive exploration and development and the Beaver Brook antimony mine being brought into production in 1998. Beaver Brook is one of the largest antimony deposits in the world, the only primary antimony mine in Canada or the United States, and the largest outside of China. Hunan Nonferrous Metals Corp., the largest integral metals producer in China by production volume excluding aluminum, acquired 100% of the Beaver Brook Mine in October 2009.

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties. Mountain Lake's current projects include: a 30% interest in the Valentine Lake gold property (Newfoundland) with an option to acquire the remaining 70% interest from Richmont Mines Inc. and a subsequent sub-option and joint venture agreement whereby Marathon Gold Corp. can earn a 50% interest in the property; a 100% interest in the Glover Island gold exploration property (Newfoundland; an option to earn a 100% interest in the Little River gold-antimony exploration property (Newfoundland); a 100% interest in the Bobby's Pond base metals property (Newfoundland); and a minority (~6.4%) stake in Etruscan Diamonds Ltd., an alluvial diamond project (South Africa). For more information visit: www.mountain-lake.com

For corporate, media, or investor inquiries, please contact:

Greg Lytle,
Lytle & Associates
North America toll-free: (866) 285-5817
International & Vancouver: (604) 839-6946
Email: info@mountain-lake.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/"Gary Woods"

President & CEO

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Source: Mountain Lake Resources Inc (TSX-V: MOA) http://www.mountain-lake.com
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