Hunter Bay Minerals Plc

April 19, 2012 12:45 ET

Hunter Bay Minerals Announces Mobilization of Drill Rig to Sela Creek

LONDON, UNITED KINGDOM--(Marketwire - April 19, 2012) - Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY)(OTCQX:HTBNF) is pleased to announce that mobilization of the drill rig and ancillary equipment to Sela Creek has commenced. Mobilization will be completed in approximately two weeks and drilling is due to commence the first week of May.

The drilling equipment was loaded onto boats at Albina on the Marowijne River this morning, from where it will be barged to Paaston on the Tapanahony River, a landing stage in the northwestern part of the Sela Creek licence. Equipment will then be moved to camp, drill site and fuel store by ATV and tractor. Hunter Bay has constructed a core logging/handling facility and camp, which is staffed by efficient and experienced national and expat staff.

Drilling will target the Jons Pit and Cambior prospects initially, focused on defining the down dip continuation of shear hosted gold mineralization identified from surface channel sampling in 2011. This initial work will comprise approximately 1000 metres of drilling, at which point Hunter Bay will make a decision on where to drill the remaining 4000 metres.

Andrew Tunningley, MAusIMM (CP), a director of Hunter Bay, is a Qualified Person as defined in National instrument 43-101 - Standards of Disclosure for Mineral Projects is responsible for the work program on the Sela Creek Project. Mr. Tunningley has supervised and approved all technical information contained in this news release.

About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in South America and Canada. Hunter Bay's lead project is the Sela Creek Project, located in Suriname, which Hunter Bay has an option to acquire up to an eighty percent (80%) interest. Hunter Bay also owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT and has a thirty percent (30%) interest in the net profits of the Fortuna Project located approximately 400 kilometers southeast of Quito, Ecuador.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Hunter Bay cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hunter Bay's control. Such factors include, among other things: risks and uncertainties relating to Hunter Bay's ability to commence its planned drill program at the Sela Creek Project, Hunter Bay's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Hunter Bay's properties. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Hunter Bay undertakes no obligation to publicly update or revise forward-looking information.

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

Contact Information

  • Hunter Bay Minerals plc
    Christopher Wilson
    CEO and President
    (+44) 207-127-9125