Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

November 30, 2010 13:17 ET

Hunt Mining Closes Financing for Approximately $8.6 Million to Advance Santa Cruz Argentina Exploration

LIBERTY LAKE, WASHINGTON--(Marketwire - Nov. 30, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX), is pleased to announce it has closed its previously announced Short Form Prospectus Financing (see news releases dated October 12th and November 25th) and raised gross proceeds of $8,526,270 for continuing exploration activities in the Santa Cruz Province of Argentina. The offering was led by Octagon Capital Corporation, on behalf of a syndicate of agents including Canaccord Genuity Corp. and Wolverton Securities Ltd. (collectively, the "Agents").

At the closing of the Offering the Corporation issued 28,420,900 units ("Units"). Each Unit was priced at $0.30 and consists of one common share and one-half of one common share purchase warrant (a "Warrant"). Each full Warrant is exercisable at a price of $0.35 per share at any time on or prior to November 30, 2013.

Hunt Mining Corp. intends to use the proceeds from the offering to finance exploration and related capital projects in the Santa Cruz province of Argentina, primarily at the Corporation's flagship La Josefina Gold-Silver Project. The Corporation has completed over 37,000 meters of drilling in Santa Cruz, and has reported a preliminary NI 43-101 resource calculation of a measured resource of 155,562 gold equivalent ounces, with an additional indicated resource of 41,812 gold equivalent ounces and an additional inferred resource of 6,744 gold equivalent ounces.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about the Company and its management, as well as financial statements.

About Hunt Mining Corp.

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. Historical results and additional information can be viewed at www.huntmining.com.

FORWARD-LOOKING STATEMENTS This announcement contains certain forward-looking statements, relating to, but not limited to Hunt Mining'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, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance including in respect of the intended use of proceeds of the offering.. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, 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 and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Readers asked to carefully consider the additional risk factors listed in the "Risk Factors" section of Hunt Mining's short form prospectus dated November 23, 2010 and Annual Information Form dated April 28, 2010, both of which may be viewed at www.sedar.com. Hunt Mining does not assume the obligation to revise or update this forward-looking information after the date of this release 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.

Contact Information