SOURCE: Hunt Gold Corporation

December 17, 2008 12:09 ET

Hunt Gold Corporation -- Expedited Drilling

Company Completes Its Third and Fourth Drill Holes, Commencing on Fifth Drill Hole Today

NEW YORK, NY--(Marketwire - December 17, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed today the completion of its third and fourth drill holes at its "Mockingbird" Gold Project in Arizona.

The third hole was drilled from the same drill pad at the Great West Gold Mine, but the angle of the drill was steepened from 65 degrees to 80 degrees to test continuity of gold mineralization down dip from the previous hole. The altered and brecciated zone was encountered from 71 to 87.5 feet, which was before the 107' distance at which mineralization was expected. This is suggestive of listric faulting, which is an expected characteristic of detachment terranes. The hole was terminated at 144 feet.

The third hole was collared downhill from the second hole, approximately 80 feet west of the Great West shaft. It was drilled at an angle of 68.5 degrees. This hole encountered two altered and brecciated zones, from 50 feet to 64 feet and from 70 feet to 90 feet. This hole was terminated at 154 feet.

The drill rig has been moved to the site for the fifth hole, which is further downhill along the strike of the Great West vein.

There are now two drill crews working around the clock, and a second water truck has been obtained to expedite drilling. Because of the rapid drilling pace it has not yet been possible to do detailed logging of the drill core.

Hunt Gold Corporation's CEO Mike Saner stated, "We are greatly encouraged that the drilling program is continuing on schedule and that each drill hole so far appears to be finding the target mineralized zone."

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:

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