November 6, 2002

News Release: Etruscan & Mountain Lake Resources: Tirisano Diamond Mine Officially Opened

Etruscan Resources Inc. (EET.TSX) and Mountain Lake Resources Inc. (MOA.TSX Venture) jointly announced that the official opening of the Tirisano Diamond Mine was held on November 5, 2002 in South Africa. The 4,000 tonne per day mine is scheduled to produce 19,200 carats per year. The name given to the mine, Tirisano is derived from the Setswana language and means "working together". Over 350 people were in attendance. The opening was officiated by Gerald McConnell, President and CEO of Etruscan Resources Inc. together with Allen Sheito, President and CEO of Mountain Lake Resources Inc. Speeches were given by Mr. Khaya Ngqula, Chief Executive Officer of the Industrial Development Corporation ("IDC") of South Africa, by Pule Mohutsiwa representing the Bakwena Ba Mogopa Trust and by Sam Louw, Member of Parliament and representative for the Department of Minerals and Energy.

Guests at the opening were provided with the opportunity to tour the plant and also to view the extensive gravel runs and the results of the on-going exploration program. Exploration results are confirming continuity of the East Gravel Run over the five-kilometer length surveyed to date. Even more significantly the program is delineating additional potholes with gravel to depths in excess of 60 meters.

The common shares of Etruscan are traded on the TSX Exchange under the symbol "EET". The common shares of Mountain Lake are traded on the TSX Venture Exchange under the symbol "MOA".

Etruscan
Richard Gordon
Investor Relations
(902) 798-9701
(902) 798-9702 (FAX)
or
Etruscan
Tony Hayes
Vice President
(416) 368-0882
(416) 367-3638 (FAX)
or
Mountain Lake
Allen Sheito
President and CEO
(902) 542-9773
(902) 542-4442 (FAX)
or
Mountain Lake
Frank Metcalf, QC
Director
(902) 420-1990
(902) 429-1171 (FAX)

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