SOURCE: Hunt Gold Corporation

December 12, 2008 09:41 ET

Hunt Gold Corporation -- Completion of First Drill Hole

Company Completes Its First Drill Hole, Commencing on Further Drill Holes Today

NEW YORK, NY--(Marketwire - December 12, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) Hunt Gold announces that it completed its first drill hole at the Mockingbird Gold Mining Project in Arizona.

The hole, located at the Pocahontas Mine, encountered alteration at a depth of 100 feet and entered the ore zone at 103 feet. Crumbled quartz veining and stock work were encountered from 107.5 feet to 110 feet, followed by a 3 foot interval of silicic stock work footwall from 110 feet to 113 feet.

Drilling was continued to a depth of 150 feet in anticipation of finding a footwall split. Instead, 37 feet of metasediment was found with a hematitic overprint and vuggy quartz veinlets. This was a first for the property, as the Precambrian lower plate is typically gneissic rather than sedimentary. Accordingly, the Company plans to assay core from a depth of 97 feet to the termination depth of 150 feet.

Hunt Gold Corporation CEO, Mike Saner stated, "We are very pleased with our growing understanding of the structure of gold mineralization at our 'Mockingbird' Gold Mining Project. The Company's Project Geologist Ed Huskinson had expected to encounter the ore zone at a depth of 110 feet; and the heart of the vein was found between 107.5 feet and 110 feet. You can't get much closer than that."

The drill rig was moved to the upper drill pad at the nearby Great West Mine on Thursday, December 11, 2008 in the afternoon, where the second drill hole was collared this morning, Friday, December 12, 2008."

Pads have already been completed for the next four drill holes, at the Great West Mine, which is located uphill from the Pocahontas Mine.

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 in January of 2009.

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:

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