Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

March 15, 2011 15:18 ET

Hunt Mining Appoints Interim CFO; Assumes Loan Owed by Its Subsidiary

LIBERTY LAKE, WASHINGTON--(Marketwire - March 15, 2011) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX) would like to announce the appointment of Vicki Streng as Interim Chief Financial Officer and Corporate Secretary. Mr. Bryn Harman, the current Chief Financial Officer, is resigning his position to seek other opportunities but will remain as a Director of the Corporation. The resignation of Mr. Harman becomes effective March 24th, 2011. The Corporation would like to thank Mr. Harman for his time and effort in the operations of Hunt Mining. Ms. Streng, the Corporation's current Controller, has over fifteen years of accounting experience in the mining industry. Previously, she held the positions of Controller for Nevoro Inc., Controller for Minera Andes Inc. and Assistant Controller for Yamana Gold Inc. (formerly Yamana Resources Inc.).

The Corporation also announces that it has entered into an agreement to purchase a US$103,000 loan owing from Cerro Cazador S.A. ("CCSA"), a wholly owned subsidiary of the Corporation, to HuntMountain Resources Ltd., a corporation controlled by the Corporation's Executive Chairman. The purchase price for this transaction is US$99,910, a 3% discount from the face value of the loan. The loan has accrued interest totaling US$11,682 and therefore the total purchase price for the transaction is US$111,592. Due to Argentine banking regulations, this transaction allows the Corporation to better manage its working capital.

An agreement establishing the loan from HuntMountain to CCSA was effected in June of 2009. The purpose of the loan was to finance CCSA's ongoing operations while the Corporation's management was working on the Qualifying Transaction and concurrent financing transactions that closed on December 23, 2009.

This loan acquisition transaction was approved by the TSX Venture Exchange on March 11, 2011. 

About Hunt Mining

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. Since that time, the Corporation's wholly owned subsidiary, Cerro Cazador S.A. ("CCSA"), has completed a large amount of exploration activity including more than 37,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 10,000 surface channel, chip, and trench samples. The company is currently engaged in a resource expansion drilling campaign at the flag-ship La Josefina project. Historical results and additional information can be viewed at www.huntmining.com.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, relating, but not limited to the Corporation's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes or other expectations including with respect to the completion, and timing of the completion, of the loan acquisition transaction. Such forward looking-information is based on current expectations that involve a number of known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, failure to establish estimated resources, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of mineral resources and unanticipated operational or technical difficulties and other factors. Such forward-looking information are based on a number of assumptions, including but not limited to, the availability of financing, no significant decline in existing general business and economic conditions, the level and volatility of the price of gold, the accuracy of the Corporation's resource estimates and of the geological, metallurgical, price and other assumptions on which the estimates are based. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. The Corporation does not assume the obligation to revise or update this forward-looking information after the date of this announcement or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

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