SOURCE: Hunt Gold Corporation

August 14, 2008 09:23 ET

Hunt Gold Corporation -- Bid Update

Company Updates Its Stockholders on Takeover Bid

NEW YORK, NY--(Marketwire - August 14, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) can confirmed on August 8, 2008 that the Private Equity Group had increased its bid price from US$0.025 per share to that US$0.03 per share; in order to obtain control of the Company.

The Private Equity Group now holds an amount of 93,150,103,500 shares of your Company's stock, amounting to 31.7% of your Company's Common Stock.

The Board of Directors has been advised that the Private Equity Group has failed to acquire any additional shares of your Company's Common Stock at this increased bid price of US$0.03 per share.

The Board of Directors remains of the opinion that the Private Equity Group will have to very substantially raise their offer price, should they wish to assume control of your Company.

ABOUT HUNT GOLD CORPORATION

Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests. The Company is completing the sale of its "American Molygold" interests.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact Information

  • For further information contact:

    Hunt Gold Corporation
    E Mail: Email Contact
    Telephone: (954) 840-6956
    Contact: Mr. Michael G Saner