Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

May 05, 2011 10:09 ET

Hunt Mining Corp. Intersects Wide Zone of High Grade Gold in the Sinter Area: La Josefina Project, Santa Cruz, Argentina

LIBERTY LAKE, WASHINGTON--(Marketwire - May 5, 2011) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX) is pleased to announce assay results for the first ten holes drilled on the Sinter Zone during the ongoing diamond core drilling program at the La Josefina Project in Santa Cruz province, Argentina.

The results of this latest drilling continue to confirm high-grade gold mineralization. The Sinter Zone exhibits fossil hot spring deposit characteristics with both near surface disseminated gold, as well as underlying structurally controlled mineralization. Significant results included:

Hole SSI-D11-278:

  • 19.47 meters (63.88 feet) true width of 18.83 (grams/tonne) g/t gold, including
    • 9.48 meters true width of 32.04 g/t gold, including
    • 3.00 meters true width of 62.87 g/t gold

Hole SSI-D11-282:

  • 4.45 meters true width of 4.83 g/t gold, including
    • 1.45 meters true width of 11.65 g/t gold
  • 1.00 meter true width of 8.95 g/t gold (second mineralized intercept)

Hole SSI-D11-286

  • 7.00 meters true width of 3.01 g/t gold, including
    • 2.00 meters true width of 7.51 g/t gold,

Hole SSI-D11-287

  • 1.00 meters true width of 40.97 g/t gold

A range of significant mineralized intersections in those holes not cited above (SC-D11-279, 280, 281, 283, 284, and 285) includes gold grades with a low of below detection ranging to 7.70 g/t Au. A table with all 2011 drill results can be viewed at www.huntmining.com

The drill will soon be moved from the Sinter Zone to the Veta Sur Structure on the La Josefina Project. An additional drill rig continues exploration at the Corporation's 100% owned El Gateado Project but will soon be relocated to the La Josefina Project to accelerate project development there. The Corporation continues to compile results from the Sinter Zone, which will be released upon completion.

Notes:

  • True widths reported above are estimated at 100% of intercept widths based on surface sampling, flat lying stratigraphic control of mineralization, vertical orientation of drill holes, and cross-section comparisons.
  • All drilling has been conducted in accordance with standard industry practices.
  • All samples are being prepared and assayed by Alex Stewart Laboratories in Mendoza, Argentina.
  • An analysis of the Corporation's QA/QC practices are reviewed in detail in the Corporation's current Technical Report in respect of the La Josefina Project, which is available at www.sedar.com

Mel Klohn, Senior Technical Advisor for the Corporation, is the Qualified Person under NI 43-101 who has approved the technical content of this new release.

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., has completed a large amount of exploration activity including approximately 43,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 15,000 surface channel, chip, and trench samples. The Corporation 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 INFORMATION

This announcement contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws, relating, but not limited to the Corporation's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by the use of 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 drilling program on the Corporation's La Josefina and El Gateado Projects and the interpretation of exploration results received to date. Such forward looking-information is based on assumptions and 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 is 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. Readers are further cautioned that the forgoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. 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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