SOURCE: Hunt Gold Corporation

November 18, 2008 09:23 ET

Hunt Gold Corporation -- Drilling Contracts Awarded

Company Awards Drilling Contracts to Tonatec

NEW YORK, NY--(Marketwire - November 18, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) announces that the initial drilling contacts on portions of its "Mockingbird" Gold Mine have been awarded to Tonatec of Salt Lake City, Utah.

Tonatec will provide a Boart Longyear LF 70 drilling rig for initial core drilling at the Great West, Dandy and Pocahontas gold mines, which are part of the Company's "Mockingbird" Gold property. While this rig is capable of drilling in excess of 1,000' in depth, initial drilling will test the oxidized layer above the water table for enriched gold vein material and no drill-hole is planned to exceed 200' in the first phase of drilling. Holes will be angled up to 45 degrees from vertical.

The drilling contractor will set 5" casing through overburden as required and, upon reaching bedrock will drill HQ core. All core will be turned over to the Company's Geologist at the drill site, following which the cores will be split and then sent to an independent assay company.

The drilling contractor will furnish a full crew and all ancillary equipment. The Company will also be responsible for site preparation, including construction and repair of drill roads and drill pads. Since the "Mockingbird" Gold property is a previously operational gold mine, there are numerous drill roads on the site and it is anticipated that very little site preparation will be required, which should also be helpful in reducing permit approval time and bonding level.

The drill rig is imminently coming off another assignment in Nevada, and Tonatec anticipates being able to mobilize at the drill site and start work as soon as all permits are obtained from the BLM. Tonatec is a licensed driller in the State of Arizona.

Tonatec is based in Salt Lake City, Utah. Its principals have over 120 years of experience in the business and have drilled a number of projects in Arizona, including other detachment fault gold targets similar to the Company's "Mockingbird" Gold property, and the distinction of having drilled the deepest core hole in North America. The Tonatec team is committed to the highest safety and environmental standards, which meet or exceed all applicable MSHA and OSHA standards.

This will all be overseen by the Company's two Geologists, Mr. Ed Huskinson and by Mr. Jack Light.

The Company confirms that it will be filing its drilling and exploration plans with the BLM without delay.

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.

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