Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

February 05, 2010 12:37 ET

Name Change to Hunt Mining Corp.

Mining Project Summary in Santa Cruz Province, Argentina

LIBERTY LAKE, WASHINGTON--(Marketwire - Feb. 5, 2010) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX), is pleased to announce that at the Special and Annual General Meeting held on February 1st, 2010 the shareholders of the Corporation voted to change the name of the Corporation from Sinomar Capital Corporation to Hunt Mining Corp. This name change is effective February 1st, 2010 and maintains the same share structure as Sinomar Capital Corporation. The new trading symbol for Hunt Mining Corp. is HMX on the TSX Venture Exchange effective Friday, February 5th, 2010.

The Corporation would also like to announce it has launched its website located at: www.huntmining.com. This web site contains detailed information on all company projects, share structure, management team and exploration plans.

Hunt Mining Corp. is a gold and silver mining company with projects located in the Santa Cruz Province of Argentina. The Corporation holds a total of 1120 square kilometers (276,752 acres) of prospective land, with advanced exploration completed on three project areas. A summary of projects and work completed to date is summarized below.

La Josefina

The La Josefina gold and silver project is the Corporation's advanced stage flagship property, consisting of a 528 square kilometer (130,469 acres) mineral reserve located within Patagonia's highly prospective Deseado Massif mineral district. It lies approximately 100 km northwest of the Cerro Vanguardia (AngloGold Ashanti) gold-silver mine, and 100 km northeast of the Mina Martha (Coeur d'Alene Mines) silver mine, a project discovered and brought into production by Hunt Mining management. Cerro Cazador S.A. ("CCSA"), the Corporation's 100% owned Argentine subsidiary, won the public bid to explore, develop and mine La Josefina from Fomicruz S.E. ("Fomicruz"), a provincial mining company, in 2007. The Corporation has met its exploration commitment of US$6 million in the first year beginning Q1 2007, and has the right to earn a 91% interest in the project upon completion of a positive feasibility study. Hunt Mining Corp. has also purchased the surface rights covering the primary showings, with a mining camp in place to host up to 50 personnel. The Corporation currently has 15 people working in this camp, which will increase to capacity in the coming weeks.

Previous exploration valued at $2.8 million was conducted over a thirteen year period by Fomicruz (Phase I and III) and Minamerica (Phase II) including 8,000 surface samples, 3,900 meters of trenching, and 4,100 meters of shallow core drilling.

The historical exploration work completed by Fomicruz and Minamerica defined four general target areas in the La Josefina Project:

1. Noreste

2. Veta Norte

3. Central

4. Piedra Labrada

CCSA completed an assay verification program in late 2007 with archived core being saw-quartered and then shipped to ALS Chemex for sample preparation and analysis. The results have confirmed that previously reported mineralized intervals are valid. The results also demonstrate that the majority of new values exceed formerly documented grades. Highlights of this re-assay of previous drilling included an interval comparison showing an original grade of 2.10 meters at 137.89 g/t gold, with re-assayed interval returning 2.16 meters at 366.19 g/t gold with a single interval of 0.46 meters grading 1,375 g/t gold (all interval grades calculated as weighted averages).

After completion of this re-assay program, CCSA completed 242 HQ diamond drill holes totaling 37,605 meters at the four previously noted target areas (Phase IV), and a new target area, the Sinter. This drilling confirmed the presence of at least 5 well-mineralized shoots. All shoots identified thus far remain open to expansion.

A full description of all assays and exploration work completed by Fomicruz, Minamerica and CCSA can be viewed at the web site at www.huntmining.com under Projects: La Josefina.

In 2010, Hunt Mining Corp. plans to complete additional drilling to assist in the definition of a NI 43-101 resource calculation, and test targets not visible on the surface.

Bajo Pobre

Hunt Mining Corp. finalized the agreement for the acquisition of a 100% interest in the Bajo Pobre property in March 2007. The property totals 120 square kilometers (29,652 acres), and is located 90 kilometers South of the town of Las Heras and 130 kilometers NE of the Cerro Vanguardia mine, This property was discovered in 1970 and has been worked intermittently by several government entities and private companies. The known extent of the Bajo Pobre gold system encompasses more than 12 kilometers of exposed vein strike within a 5 square kilometer area of intense hydrothermal alteration. The main vein system generally trends northeast and is comprised of at least five outcropping sub-parallel structures, varying between 1 and 10 meters in width, with an average outcrop width of 3 meters.

Exploration was initiated in the mid 1990's with detailed geologic mapping and surface sampling. Assays from this sampling yielded values up to 40 grams per ton gold. Drill targets identified from surface sampling were augmented in 2002 with additional targets derived from geophysical surveys. In 2003 and 2004, the property saw a limited amount of exploration drilling which tested a small portion of these targets. The specific work that was conducted from 1996 to 2004 included 62 line kilometers of IP/resistivity geophysical surveys, the emplacement and sampling of 40 trenches totaling 2,500 meters, more than 1000 surface chip and channel samples and 12 widely spaced shallow drill holes. In 2010, Hunt Mining Corp. plans to initiate exploration programs which will include target evaluation, check sampling, supplemental ground geophysical survey(s) and will culminate in phase II diamond drill program.

El Gateado / Lobuno

El Gateado and Lobuno form a contiguous land block on the eastern edge of the La Josefina property. Their combined mineral rights total 157 square kilometers (38,800 acres) and are 100% wholly owned by CCSA. Early in 2006 the company discovered a gold bearing epithermal system covering 4 square kilometer within El Gateado. This discovery quickly sparked an exploration program which included detailed geological mapping, surface channel and trench sampling and a Phase I drill program. Results from the sampling and drilling returned very encouraging results. Drill-intersected mineralization remains open in all directions. Lobuno, which lies directly south and down trend of the main El Gateado showings, remains virtually unexplored.

In the fourth quarter 2006 the company commenced a phase I drill program which was completed in the first quarter of 2007. The program totaled 1,562 meters drilled in 13 widely spaced HQ diamond core holes. Eight of the 13 holes intersected significant mineralization with intervals greater than 1 g/t gold. The first hole drilled on the property, GAT-DDH06 001, intersected anomalous gold throughout its entire 150-meter depth, highlighted by an intercept of 11.3 meters averaging 3.65 grams of gold per ton (g/t), including an interval of 8.2 meters assaying 4.50 g/t gold. Individual results within that section include 0.85 meters of 11.70 g/t gold and 0.60 meters of 8.24 g/t gold. The epithermal-breccia style mineralized zone cut in this hole is open in all directions and is located several hundred meters from the nearest drill hole which was placed to test a completely separate structural target.

El Overo / El Alazan / El Tordillo

The El Tordillo, El Alazan, and El Overo exploration concessions form a contiguous land package located approximately 60 kilometers NE of the La Josefina project at the convergence of several prospective structural trends. Their combined mineral rights total 298 square kilometers (73,600 acres) and are 100% wholly owned by CCSA. The property block is currently in early stages of reconnaissance exploration.

Early in 2006, CCSA's staff conducted a comprehensive analysis of satellite imagery covering the Deseado Massif. During this analysis a large area of open ground stood out as a region with high discovery potential. This potential was based on the structural setting, known trends of mineralization, and the apparent widespread hydrothermal alteration interpreted from the imagery. This prompted company geologists to make a site visit where the prospective nature of the area was confirmed. In October of 2009, two crews of company geologists began a campaign of reconnaissance mapping and sampling to define the nature, scale, and strength.

The Corporation's executive team consists of the following individuals:

Tim Hunt - Chief Executive Officer and Chairman of the Board

Mr. Tim Hunt is the founder and president of Huntwood Industries, one of the largest building products manufacturers in the Western United States. Mr. Hunt has led the development of Huntwood Industries over the past 20 years, taking the business from a start-up venture to a significant middle-market enterprise. Huntwood Industries has generated over US$1 Billion in cumulative sales and owns a 570,000 sq. foot state of the art manufacturing facility in Liberty Lake, Washington. Mr. Hunt has significant investment experience raising capital and negotiating private equity placements for numerous companies. During a period as a licensed securities broker, Mr. Hunt also cultivated and developed lasting alliances in the mining and investment community. He has been recognized for his leadership in the financial services sector and has served on the board of directors for two Inland Northwest regional banks.

Matthew J. Hughes - President and Chief Operating Officer

Mr. Matthew J. Hughes is a geologist with twenty years of experience in the discovery, exploration and mining of precious metal projects in the United States, Argentina, China, Brazil and Uzbekistan. Mr. Hughes has been directly responsible for the discovery of numerous precious and base metal occurrences, including the producing Mina Martha high-grade silver lode in Santa Cruz, Argentina. Mr. Hughes has held senior level positions with Mundoro Mining, Inc., Yamana Resources Inc., Platero Resources Inc and Kinross Candelaria Mining Co. Matt has also provided geological services for Silver Standard Resources, Minas Buenaventura, NERCO Exploration and Atlas Precious Metals. He received his Bachelor of Science degree in geology from the University of Oregon.

Bryn Harman, CFA - Chief Financial Officer and Secretary

Mr. Bryn Harman has over fifteen years of experience in corporate finance and investment roles in Canada and the United States. Mr. Harman was the Director of Research for a national investment management firm, a senior equity analyst for a small cap investment advisory firm, a Listings Officer with the Alberta Stock Exchange and a corporate finance consultant for a Calgary-based Chartered Accounting firm. Mr. Harman is a Chartered Financial Analyst and holds a Bachelor of Commerce degree from the University of Saskatchewan.

Danilo Silva - General Manager Argentina, President of CCSA

Mr. Danilo Silva has over 20 years of experience in the natural resources industry, including over 13 years as a geologist in base and precious metal mining exploration. Mr. Silva has served as Senior Geologist and Project Manager for Yamana Resources and Compania Minera Polimet, as Senior Geologist for Buenaventura, and as General Manager for Platero Resources. While serving in these positions, he discovered numerous viable gold and silver targets. He has led successful exploration and drill programs and has managed the advancement of numerous projects, including the discovery and development of the Mina Martha high-grade silver mine in Santa Cruz Province. Mr. Silva has served as a consulting geologist for several companies, including Placer Dome and Hidefield Gold. He holds a degree in Geological Science from the Universidad Nacional del Sur at Bahia Blanca in Argentina.

James Ebisch is considered a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has supervised the preparation of the technical information contained in this news release.

About Hunt Mining Corp.

Hunt Mining Corp. is a mineral exploration and development company carrying on exploration operations and owning properties in Argentina through its wholly owned subsidiary Cerro Cazador S.A. ("CCSA"). CCSA holds interests in six mineral exploration properties, La Josefina, Bajo Pobre, El Gateado, El Overo, El Alazan and El Tordillo, all located in Santa Cruz province, Argentina. 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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