SOURCE: Hunt Gold Corporation

December 22, 2008 08:30 ET

Hunt Gold Corporation -- Drilling Updates & Assay Results

Company Completes Its Fifth and Six Drill Holes, the 2009 Drill Campaign to Resume on January 10, 2009

NEW YORK, NY--(Marketwire - December 22, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) confirms the successful completion of its 2008 drilling program at its "Mockingbird" Gold Project in Arizona.

--  Drill Holes 1 to 6 completed.
    
--  Cores from all six drill holes are in the process of being split, and
    being forwarded to Jacobs Assay in Tucson, Arizona.
    
--  2009 Drilling Campaign to resume on January 10, 2009.
    
--  Assay Results from the first 6 Drill Holes to be released by mid
    January 2009.
    

Hunt Gold Corporation's CEO, Mike Saner, stated that, "The drill campaign has been extremely encouraging on both the geological and mineralogical levels. All of the first six drill holes appear to have intercepted the altered and mineralized zones. First at the Pocahontas Gold Mine and then at the Great West Gold Mine. We are looking forward to resumption of drilling next year at the Dandy Gold Mine, where past sampling has indicated some of the highest gold grades for the 'Mockingbird' Gold Project."

The 2009 "Mockingbird" Gold Project drill campaign will begin on January 10, 2009, once the Tonatec drillers have completed their annual Mine Safety and Health Administration (MSHA) and OSHA certification training.

The drill rig will be moved to the Dandy Gold Mine at that time.

The fifth hole was collared at the Great West Gold Mine on December 17, 2008, approximately 100 feet downhill and on strike with the fourth hole. It was completed on December 19, 2008 following an unusual snow storm that closed area roads, as well as Las Vegas McCarran Airport. It was drilled at a 60 degree angle and intercepted the brecciated zone between 100 feet and 110 feet. There was significant iron oxide overprint as well as silicification. In a very encouraging development, pervasive fracturing with iron staining was found at local intervals both upholder and down hole from the target zone. The hole was terminated at a depth of 155 feet, which is approximately 100 feet down dip from the surface expression of the vein.

The sixth hole was drilled from the same drill pad as the fifth hole, but at a steepened angle of 75 degrees. It was expected to encounter the altered and mineralized zone at a depth of 140 feet, which would have been 150 feet down dip from the vein at the surface. Instead, the hole intersected the target zone at a depth of 118 feet to 128 feet. This is again suggestive of listric faulting, which is a typical characteristic of detachment fault gold deposits like the Mockingbird gold deposit. The altered and mineralized zone was brecciated and iron stained, with some silicification. The hole was terminated at a depth of 185 feet on December 20. Toward the bottom of the hole significant pyritization was encountered in an aphanitic rock unit, which will also be submitted for assay.

Cores from all six drill holes are in the process of being split, and being forwarded to Jacobs Assay in Tucson, Arizona. Chain of custody standards are being observed throughout the process. Assay results are expected in mid January 2009.

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 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