Canadian Gold Hunter Corp.
TSX : CGH

Canadian Gold Hunter Corp.

February 27, 2008 11:02 ET

Canadian Gold Hunter Corp.: 65.5 Meters Grading 0.76 g/t Gold Intersected at Caballo Blanco Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2008) - Canadian Gold Hunter Corp. (TSX:CGH) (the "Company") is pleased to report partial assay results from the first two diamond-drill holes completed at the Caballo Blanco project in Veracruz, Mexico. Core hole 07CBN-002 intersected 0.76 g/t gold over 65.53 meters in an iron-oxide-cemented silica breccia within a broader mineralized interval that graded 0.59 g/t gold over 119.1 metres to a depth of 157.8 metres where drilling was stopped for the Christmas break. This hole has since been completed to a depth of 293.5 metres and the iron-oxide-silica breccia continues to a depth of 251.0 metres. Assay results for the entire interval will be reported when they become available. (see the Company's January 18, 2008 news release for selected photos of the core).

Hole 07CBN-002 is the first hole drilled by the Company in the Cerro la Paila target area (formerly referred to as Cerro la Cruz) of the Northern Zone high-sulphidation gold system, which covers an area of some 20 square km. (see accompanying location map).

Core hole 07CBN-001 was drilled about 3 1/2 km. to the south west of Cerro la Paila on a strong resistivity anomaly in the Cerro Bandera part of the Northern Zone. This vertical hole was collared in a structurally disturbed zone and was lost in a strong fault at 109.12 meters. Assays up to 51.7 g/t silver over 3.05 meters are reported from the drill hole but with no significant associated gold. Despite the low gold grades, the silver grades are considered to be very encouraging for indicating the presence of a nearby high-sulphidation gold system (note that an interval with similar silver grades occurs directly above the gold-bearing interval in hole 07CBN-002). This target will be tested further when time permits.



Available assay results for 07CBN-001 and 002 are presented below.

----------------------------------------------------------------------------
Drill Hole Az/Angle Depth (m) Interval (m) Width (m) Au g/t Ag g/t
----------------------------------------------------------------------------
07CBN-001 -90 degrees 109.12 31.39-42.06 10.67 0.005 22.8
----------------------------------------------------------------------------
including 39.01-42.06 3.05 0.005 51.7
----------------------------------------------------------------------------
and 106.07-109.12 3.05 0.009 40.7
----------------------------------------------------------------------------
07CBN-002 090 degrees/
-50 degrees 293.5(1) 29.57-38.71 9.14 0.10 28.3
----------------------------------------------------------------------------
and 38.71-157.80 119.09 0.59 2.8
----------------------------------------------------------------------------
including 38.71-104.24 65.53 0.76 3.9
----------------------------------------------------------------------------
(1) Assays available only to 157.80 m
----------------------------------------------------------------------------


A second core rig mobilized to the project on February 20 also is being directed toward drilling in the Cerro la Paila gold zone. In the current phase of the program, the Company plans to test the Cerro la Paila Zone with at least 28 core holes amounting to about 7,000 meters. The zone has a strike length of at least 800 meters, based on soil and rock geochemistry, geophysics (IP/resistivity) and detailed geological mapping.

The Company can earn a 70 per cent interest in the Caballo Blanco project from Almaden Minerals Ltd. by spending US$12 million over a period of six years.

The geological data in this news release were verified by qualified person Jan Christoffersen, P. Eng., Vice President of Canadian Gold Hunter Corp. Appropriate quality control and quality assurance protocols are utilized on the program. Standard reference samples and various duplicates are inserted in each batch of assays. Drill core samples are cut by saw on site and sample splits are shipped for preparation to ALS Chemex in Guadalajara, Mexico. Sample pulps are sent to ALS Chemex in North Vancouver, B.C., Canada and analyzed for gold by fire assay and for silver and 34 other trace and major elements by ICP-MS in accordance with standard industry practices.

ON BEHALF OF THE BOARD

Richard J. Bailes, President

NOTE: Location map available from the company at the number listed below or on the company's website at http://www.canadiangoldhunter.com.

Contact Information

  • Canadian Gold Hunter Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    Website: www.canadiangoldhunter.com