Global Hunter Corp.

Global Hunter Corp.

October 04, 2007 20:15 ET

Global Hunter Provides Update on La Corona De Cobre

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Global Hunter Corp. (TSX VENTURE:BOB) ("the Company") is pleased to provide a progress report on the exploration and development activities at La Corona de Cobre project in central Chile.

The Company's current program is designed to further define the resource and economics of Las Posadas deposit and to develop additional targets identified on the property by previous exploration programs.

The Company has now completed its 31-hole drill program totaling 9,600 metres of reverse-circulation and diamond core drilling on Las Posadas shear zone and other targets. The program included approximately 7,600 metres of delineation drilling and 450 metres of step-out drilling to test extensions along strike and expand the known extent of the mineralization. Four holes totaling approximately 1,000 metres were drilled to test the underlying sulphide to a depth of approximately 300 metres. The Company also completed 550 metres of exploration drilling at other satellite targets to test for additional mineralization and to help plan for infrastructure location.

The core has been logged and 8,276 metres of core has been cut and shipped to a third party assayer for analysis; results will be announced as soon as they are received.

Bottle-roll and metallurgical tests are currently underway to provide data on the acid consumption and metal extraction properties of Las Posadas mineralization, a key component when determining mining viability and costs. The Company is testing a relatively large group of twenty-one samples in order to better understand the metallurgical characteristics throughout the mineralization. Following completion of the bottle roll tests, the Company plans to commence its column testing program. The eight-metre column testing is a commercial scale metallurgical test that will provide Global Hunter Corp. with the design variables needed to construct a processing facility and leach pad.

The Company also continues with its environmental baseline, permitting and infrastructure relocation studies.

The Company would also like to report it has engaged Small Cap Invest Ltd. ("SCI"), a European public relations firm for small- and medium-sized public companies, to provide the company with marketing and investor communications services, with Alexander Friedrich as president and chief executive officer.

Under the terms of the agreement, SCI will focus on shareholder communications, corporate development, and building Global Hunter Corp. an active following of investment professionals throughout Europe. SCI will introduce the Company to European investment clubs, investment advisers, institutional investors, analysts and private investors in exchange for compensation in the amount of 5,000 euros per month for services as well as 200,000 stock options in the company, subject to certain vesting conditions.

This agreement is subject to the approval and acceptance for filing by the TSX Venture Exchange.

Stock Option Grant

Additionally, subject to the 2007 stock option plan and acceptance for filing by the TSX-V, the Company will grant up to an aggregate of 4,500,000 options to purchase common shares of the Company at a price of $0.30 to directors, senior officers and consultants of the Company and its subsidiaries. The options will be exercisable up to October 4, 2012. The Company will also re-price the existing stock options to $0.30 at this time.


Global Hunter is currently exploring and advancing development of the La Corona de Cobre project, located 70 km north of La Serena, Chile, along the Pan American Highway, within the coastal belt of the Andean Cordillera. The 2007 program at the property has focused on further defining the resource and economics of the Las Posadas deposit. In addition to La Corona de Cobre, the Company is also working to complete further delineation drilling and an initial resource estimate at its Rabbit South Property molybdenum project in south-central British Columbia, Canada.

On Behalf of the Board of Directors


Rod Husband, P.Geo, President

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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