SOURCE: Hunt Gold Corporation

November 14, 2008 12:48 ET

Hunt Gold Corporation -- Company JV Acquires Stock

Company and Mining Fund Joint Venture Has Acquired Stock

NEW YORK, NY--(Marketwire - November 14, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) announced today that the Joint Venture Company had identified a substantial and consistent seller of your Company's stock and had offered to purchase all of their shares of your Company's stock.

The Seller has agreed to sell all of its stock in your Company to the JV and prior to the market open on Monday, November 17, 2008. The Seller intends to continue to sell shares in the market today and to then provide the JV with the final remaining balance of their shares of your Company's Common Stock after market close today; an amount expected to be circa 182 million shares of your Company's Common Stock. The JV and the Seller have agreed to the sale and purchase of these shares at a price of US$0.00035 per share. This purchase by the JV will be transacted "off market" to eliminate brokerage costs and to avoid the distortion of the Company's trading volumes.

The Seller is being forced to dispose of these shares due to financial pressures beyond its control and is fully aware that if it was able to hold these shares of your Company's Common Stock for a period of time, it would achieve a far greater price per share.

This acquisition of these shares by the JV will serve to eliminate the persistent daily selling pressure of your Company's stock in the market by this Seller.

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." The Company has completed the sale of its "American Molygold" interests and will be distributing the entire sale proceeds through a Stock Dividend to its stockholders, this to be announced shortly.

For further information contact:

Hunt Gold Corporation
E Mail: investor@huntgoldcorp.com
Telephone: (954) 840-6956
Contact: Mr. Michael G. Saner

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 company's 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