SOURCE: Hunt Gold Corporation

July 10, 2008 08:00 ET

Hunt Gold Corporation - Possible Tender Offer

Company Confirms That Company May Be Subject to a Limited Tender Offer in Order to Reduce the "Free Float"

NEW YORK, NY--(Marketwire - July 10, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 7, 2008 and on July 9, 2008 that its Board of Directors had been informed that "activist" Investment Groups had obtained options to acquire significant amounts of the Company's shares of outstanding Common Stock; along with their voting rights. The Board has now accepted that these Investment Groups have now assumed voting control of the Company.

The Board of Directors advises its stockholders that these Investment Groups have informed the Board that is considering a limited Tender Offer to stockholders in order to acquire additional shares of the Company's Common Stock in an attempt to reduce the amount of shares in the Company's "free float."

The Board wishes to stress that it (a) cannot guarantee that such a Tender Offer will in fact be made (b) it has no idea as to the amount of shares to be tendered for and (c) has no idea as to the proposed pricing per share of this Tender Offer.

This announcement serves as a cautionary to stockholders in light of the fact that the Board of Directors undertook to update its stockholders as to all developments.

As announced on July 9, 2008, that given the Company's current stock price and the "senseless" selling of the Company's stock to new record lows by stockholders, the Board of Directors reiterates that it has now agreed to accept the various proposals by these Investments Groups; as it is undoubtedly now in the best interest of all stockholders.

These Investment Groups and other significant stockholders in the Company, will now undoubtedly seek to aggressively unlock value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.

Stockholders will continually be advised accordingly; as your Company's Management becomes aware of further details and developments.


Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.

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