Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

March 24, 2010 16:16 ET

Hunt Mining Doubles the Size of Its Precious Metal Land Holdings in Santa Cruz, Argentina

LIBERTY LAKE, WASHINGTON--(Marketwire - March 24, 2010) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX), is pleased to announce that it has filed with the Provincial Mining Authority for control of 17 new mineral concessions encompassing 139,000 hectares in the Santa Cruz province of Argentina. These new gold and silver prospects will be 100% owned by the Corporation, through its Argentine subsidiary Cerro Cazador S.A. ("CCSA"). With these additions, the Corporation will control a total of approximately 275,000 hectares, making it the second largest public company landholder in the highly prospective and emerging Deseado Massif precious metal region in Santa Cruz province.

The Corporation selected acquisitions based on known precious metal showings, established mineralized trends, and favorable structure, geology and alteration as indicated by satellite imagery interpretation. Currently the Corporation is actively engaged in exploration at its flagship project, La Josefina, in addition to the Bajo Pobre, El Gateado and other projects. Work now underway includes the following:

  • Calculation of NI 43-101 compliant resources at the La Josefina project for five mineralized shoots which were intercepted by previous drilling and remain open to expansion
  • Upgrading access and drill pads for resource expansion drilling on the La Josefina project scheduled for the second quarter of 2010
  • Collection of surface channel samples on new exploration targets slated for drilling on the La Josefina project in the third quarter of 2010
  • Retainment of UAKO Consultora Geologica ("UAKO") to provide ongoing Quality Assurance and Control of Analysis Results Program for the Corporation as the company nears a production decision and initiates project feasibility for the La Josefina project, expected later in 2010
  • Preparation of NI 43-101 technical reports for the Bajo Pobre and El Gateado projects
  • Metallurgical testing for several shallow gold shoots identified during the Corporation's 37,000 meter drilling program completed in 2009

President Matthew Hughes stated "We are extremely pleased to be adding such a significant number of highly prospective mineral concessions to our already impressive land package in Santa Cruz. While we continue to build resources and develop La Josefina towards production, the new acquisitions will allow for greater flexibility in exploration and subsequent development of multiple prospects far into the future. With our senior technical staff having more than 30 years combined experience in Santa Cruz exploration, and an excellent track record of identifying, and developing projects in the region, we are confident our success will continue to grow. When you combine these facts with the strong relationships that we have developed in local communities and the provincial government over many years, it further confirms our rising leadership role in the region."

About Hunt Mining Corp.

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006 during which time the Corporations subsidiary, Cerro Cazador S.A. (CCSA) has completed more than 37,000 meters of HQ core drilling, 416 line kilometers of IP geophysical surveys and has taken more than 10,000 surface channel, chip, and trench samples. Historical results and additional information can be viewed at www.huntmining.com.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

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