Global Hunter Corp.
TSX VENTURE : BOB

Global Hunter Corp.

April 04, 2007 18:30 ET

Global Hunter Secures Funding of Over $600,000 for Property Option Payments and Work Expenditures

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - Global Hunter Corp. (TSX VENTURE:BOB) is pleased to announce that it has secured funding of a total of Cdn.$605,265.93 (the "Proceeds") through two loan agreements. The Proceeds will be used towards property maintenance payments and exploration expenditures for the Company's La Corona de Cobre property in Chile and Rabbit South property in British Columbia.

La Corona de Cobre Property, Chile

Global Hunter entered into a loan agreement with Hudson Administrative Services Inc. ("HAS") dated effective March 14, 2007, providing for funding from HAS of up to Cdn.$546,705.93 (the "HAS Funding Agreement"). The HAS Funding Agreement was entered into in connection with an amendment dated February 25, 2007 to the La Corona de Cobre property option agreement dated February 8, 2004 between HAS and two Chilean companies, Inversiones Y Mineria Andale Ltda. ("Andale") and Exploraciones Rio Bravo Ltda ("Bravo"), which was assigned to Global Hunter pursuant to an assignment of option agreement dated March 2, 2005 between Global Hunter, HAS, Bravo and Andale (the "POA"). Details of the POA were previously disclosed in Global Hunter's news release dated March 3, 2005. The amendment to the POA provides for an extension of time to Global Hunter in which to make certain work expenditures and provides for certain additional property option payments to be made by Global Hunter. The HAS Funding will be used towards these payments.

Subject to approval from the TSX-V, in consideration for the HAS Funding Agreement and the amendments to the POA, Global Hunter will grant to HAS a bonus of Listed Shares or non-transferable Warrants in accordance with the guidelines set out in the TSX-V Policies. These shares are subject to a four month hold period which expires on July 16, 2007.

The HAS Funding Agreement provides for interest on the principal amount at the rate of 1.5% per month and must be repaid in full by March 14, 2009. The principal amount and interest are payable on demand by HAS, provided that such demand is not made prior to the earlier of March 14, 2008 and the date upon which Global Hunter successfully completes its next financing, details of which are presently unconfirmed.

La Corona de Cobre Property Update

The Company's La Corona de Cobre project is located 70 km north of La Serena, Chile along the Pan American Highway within the coastal belt of the Andean Cordilera. La Corona de Cobre consists of an approximately 19,000 hectare land package hosting shear zone copper oxide and iron oxide-copper-gold (IOCG) mineralization. At least 15 mineralized shear zones ranging from 10 and 150 meters in thickness and from 0.5 to 9 kilometers in strike length occur on the property.

In June of 2006, Global Hunter released results from an independent resource estimate, compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects, on the Los Posadas Shear Zone of the La Corona de Cobre Project based on the Company's Phase I exploration and past results. The estimate was prepared by Micon International Limited ("Micon") using a Whittle optimized pit shell at various copper prices. Results are as follows:

Mineral Resources: $1.61 /lb copper at a cutoff of 0.16% CuSol:

- Indicated: 8,490,000 tonnes grading 0.614% Cu Sol (0.73% CuTTL) containing 114,900,000 pounds of soluble copper.

- Inferred: 4,600,000 tonnes grading 0.489% Cu Sol (0.561% CuTTL) containing 49,400,000 pounds of soluble copper.

In addition to the base case mineral resource, the Company requested Micon to conduct further studies to determine sensitivity at a $2.50 copper price. The results are summarized below:

Sensitivity Analysis: $2.50 /lb copper at a cutoff of 0.10% CuSol:

- Indicated: 14,250,000 tonnes grading 0.455% Cu Sol (0.576% CuTTL) containing 143,000,000 pounds of soluble copper.

- Inferred: 9,290,000 tonnes grading 0.366% Cu Sol (0.440% CuTTL) containing 74,200,000 pounds of soluble copper.

Upon completion of its next round of financing, the Company's plans for exploration in 2007 include an infill and step out drill program at the Los Posadas Shear Zone of the La Corona de Cobre Project to increase the resource and allow for final metallurgical testing. The Company also plans to undertake environmental baseline, permitting and infrastructure relocation studies. The objectives of the program at the Los Posadas Shear Zone are to upgrade the categories of the copper oxide resource and provide enough detailed information for completion of a pre-feasibility study in late-2007/early-2008.

The Rabbit South Property, B.C.

Global Hunter entered into a loan agreement with 650397 B.C. Ltd. (the "Numbered Company") dated effective February 19, 2007, providing for funding from the Numbered Company of Cdn.$58,560 (the "Funding Agreement"). The Funding Agreement was entered into in connection with an amendment dated February 19, 2007 to the Rabbit South property option agreement dated January 6, 2004 between David L. Cooke, D.L. Cooke & Associates Ltd., Ragnar U. Bruaset, Ragnar U. Bruaset & Associates Ltd. (collectively, the "Optionors") and Global Hunter (the "Rabbit South POA"). Details of the Rabbit South POA were previously disclosed in Global Hunter's news release dated February 12, 2004. The amendment to the Rabbit South POA provides for an extension of time to Global Hunter in which to make certain work expenditures and provides for certain additional property option payments to be made by Global Hunter. The proceeds from the Funding Agreement will be used towards these payments and to settle an outstanding account for consulting services with Ragnar U. Bruaset & Associates Ltd.

Subject to approval from the TSX-V, in consideration for the Funding Agreement and the amendments to the POA, Global Hunter will grant to the Numbered Company a bonus of Listed Shares or non-transferable Warrants in accordance with the guidelines set out in the TSX-VE Policies. Global Hunter will also issue a total of 100,000 common shares of the Company to the Optionors. All of these shares are subject to a four month hold period which expires on, respectively, June 20, 2007 and July 17, 2007.

The Funding Agreement provides for interest on the principal amount at the rate of 1.5% per month and must be repaid in full by February 19, 2009. The principal amount and interest are payable on demand by the Numbered Company.

Rabbit South Property Update

The Rabbit South Property is a 1,900 hectare copper-gold property located 20 km southwest of Kamloops in British Columbia, Canada.

Previous operators drilled a portion of the Rabbit South Property system extensively and established the existence of a large body of molybdenum mineralization that is mainly hosted in the eastern lobe of the horseshoe shaped Roper Lake intrusive stock. Previous exploration on the property included drilling of 104 holes; 46 of these holes intersected significant molybdenum mineralization.

In August 2005, the Company received drill results for 11 diamond drill holes totaling 2,390 meters. Seven holes totaling 1,558 meters were drilled on the Roper Lake molybdenum prospect. Four holes totaling 830 meters were drilled to test for alkaline copper-gold porphyry mineralization associated with a large area with multiple anomalies. All seven holes drilled at Roper Lake were designed to confirm and possibly expand the mineralization in Zone A, the southern half of the Roper Lake molybdenum mineralization. All seven holes were successful in intersecting significant molybdenum mineralization.

The Company is planning to have an independent engineering firm determine if the existing information will permit a resource estimate to be prepared on the Roper Lake molybdenum mineralization. In addition, the Company is making preliminary plans to drill parts of the northern part of the mineralized zone, referred to as Zone B.

On Behalf of the Board of Directors

GLOBAL HUNTER CORP.

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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