Hunt Mining Corp.
TSX VENTURE : HMX

Hunt Mining Corp.

May 02, 2011 13:23 ET

Hunt Mining Corp. Reports More High Grade Assay Results From La Josefina Project in Santa Cruz Argentina

LIBERTY LAKE, WASHINGTON--(Marketwire - May 2, 2011) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX) is pleased to announce the latest assay results from the diamond core drilling program on the Amanda – Cecilia Vein structure in the Veta Norte Zone of the La Josefina Project in Santa Cruz province, Argentina.

The results of drilling continue to confirm high-grade gold, silver and base metal mineralization in various structures within the La Josefina Project area. Significant results included:

Hole SVN-D11-271:

  • 1.24 meters true width of 38.31 g/t (grams/tonne) gold, 150.92 g/t silver and 12.66% lead, including
    • 0.38 meters true width of 85.12 g/t gold, 337 g/t silver and 26.97% lead, also
    • 0.38 meters true width of 37.24 g/t gold

Hole SVN-D11-272:

  • 0.87 meters true width of 18.94 g/t gold, 184.44 g/t silver and 1.04% copper, including
    • 0.50 meters true width of 31.92 g/t gold and 220 g/t silver and 1.54 % copper

Hole SVN-D11-275

  • 2.42 meters true width of 3.56 g/t gold and 63.94 g/t silver including
    • 0.40 meters true width of 11.60 g/t gold, also
    • 1.50 meters true width of 4.43 g/t gold and 96.22 g/t silver

A range of significant mineralized intersections in those holes not cited above (SC-D11-273, 274, 276, 277) includes gold grades with a low of below detection ranging to 10.62 g/t, silver grades with a low of below detection ranging to 304 g/t, lead with a low of below detection ranging up to 3.04 % and copper with a low of below detection to a high of 3.56 %. A table with all 2011 drill results can be viewed at www.huntmining.com

The drill has now been moved from the Veta Norte Zone to the Sinter Zone at La Josefina. 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 is currently compiling results from the Sinter structure, which will be released upon completion.

Prior to this campaign, the Veta Ailin Zone (results released March 3, 22 and 31, 2011) had only undergone limited historical drilling and the Veta Ailin ore shoot was not included in the Corporation's current Technical Report in respect of the La Josefina Project, prepared in accordance with National Instrument 43-101 ("NI 43-101").

Notes:

  1. True widths reported above are estimated at 95% of intercept width based on surface sampling, drill hole inclinations and cross-section comparisons
  2. All drilling has been conducted in accordance with standard industry practices
  3. All samples are being prepared and assayed by Alex Stewart Laboratories in Mendoza Argentina
  4. 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 more than 42,000 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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