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Ubika Research provides an update on promising drilling results for Hy Lake Gold and M&A potential at Red Lake District

TORONTO, Canada - Ubika Research has issued an update report on promising drill results obtained by Hy Lake during 2008 and the potential for M&A activities at Red Lake District.

Ubika Research is pleased with the progress that the company has made during 2008 with regards to its exploration program and its continued focus on expanding its resource estimate. We continue to believe that Goldcorp will favour properties that will add to its resource base and those that are in the well known backyards of its largest mine. If Hy Lake could continue with its planned exploration program during 2009 and beyond and confirm a contiguous stretch of strike length on the Pipestone-Bay-St. Paul Bay deformation zone, it may attract considerable attention from potential suitors, which are looking to add resource base for expansion.

Ubika first highlighted Hy Lake's enormous potential in a detailed report, "Hy Lake Gold Inc: A Promising Exploration Company in Canada's Prolific Red Lake area", on May 15, 2008.

HYLK is rated Speculative Buy by Ubika Research, with a 12-month target of C$ 0.81. Download the free report at
http://www.ubikaresearch.com/report/hy_lake.aspx

About Hy Lake Gold Inc.

Hy Lake Gold Inc. is a CNSX (HYL) and Frankfurt (HYK) listed junior exploration company with several interests in the Red Lake Mining District, including three past producing mines. Its strategy is focused on leveraging the ability of its talented management and exploration team to recognize geological opportunities that are adjacent to previous big finds but are overlooked. It has a close working relationship with Red Lake Gold Mines (Goldcorp, G:TSX) which is a great asset. The properties now include a 12 km long continuous strike length on the Pipestone Bay - St Paul Bay deformation zone.

About Ubika Research

Ubika Research is premier pure play equity research firm based in Toronto and Vancouver. It provides investors with objective and independent research on under-researched micro and small cap companies. For more information visit www.ubikaresearch.com

Disclosure

Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements.

Ubika Research, a division of Ubika Corporation, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this report. For making specific investment decisions, readers should seek their own advice. For full disclosure please visit http://www.ubikaresearch.com/report/hy_lake.aspx

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	August 12, 2009 Ubika Research provides an update on promising drilling results for Hy Lake Gold and M&A potential at Red Lake District TORONTO, Canada - Ubika Research has issued an update report on promising drill results obtained by Hy Lake during 2008 and the potential for M&A activities at Red Lake District. Ubika Research is pleased with the progress that the company has made during 2008 with regards to its exploration program and its continued focus on expanding its resource estimate. We continue to believe that Goldcorp will favour properties that will add to its resource base and those that are in the well known backyards of its largest mine. If Hy Lake could continue with its planned exploration program during 2009 and beyond and confirm a contiguous stretch of strike length on the Pipestone-Bay-St. Paul Bay deformation zone, it may attract considerable attention from potential suitors, which are looking to add resource base for expansion. Ubika first highlighted Hy Lake's enormous potential in a detailed report, "Hy Lake Gold Inc: A Promising Exploration Company in Canada's Prolific Red Lake area", on May 15, 2008. HYLK is rated Speculative Buy by Ubika Research, with a 12-month target of C$ 0.81. Download the free report at http://www.ubikaresearch.com/report/hy_lake.aspx About Hy Lake Gold Inc. Hy Lake Gold Inc. is a CNSX (HYL) and Frankfurt (HYK) listed junior exploration company with several interests in the Red Lake Mining District, including three past producing mines. Its strategy is focused on leveraging the ability of its talented management and exploration team to recognize geological opportunities that are adjacent to previous big finds but are overlooked. It has a close working relationship with Red Lake Gold Mines (Goldcorp, G:TSX) which is a great asset. The properties now include a 12 km long continuous strike length on the Pipestone Bay - St Paul Bay deformation zone. About Ubika Research Ubika Research is premier pure play equity research firm based in Toronto and Vancouver. It provides investors with objective and independent research on under-researched micro and small cap companies. For more information visit www.ubikaresearch.com Disclosure Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Ubika Research, a division of Ubika Corporation, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this report. For making specific investment decisions, readers should seek their own advice. For full disclosure please visit http://www.ubikaresearch.com/report/hy_lake.aspx
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