Resource Hunter Capital Corp.

March 31, 2011 15:01 ET

Resource Hunter Announces Mailing of Information Circular, Name Change and New Director Nominees

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Resource Hunter Capital Corp. (the "Company") (TSX VENTURE:RHC) is pleased to announce that subsequent to the successful completion of the reverse takeover of the Company by Plains Creek Mining Limited on February 25, 2011, the Company has completed and mailed to its shareholders an information circular dated March 24, 2011 (the "Information Circular") with respect to the annual and special general meeting of the shareholders of the Company to be held April 21, 2011 (the "Meeting").

The Company is also pleased to announce that it will seek to change its name to "Plains Creek Phosphate Corporation" at the Meeting. The Board of Directors of the Company has recommended that the shareholders approve this name change.

The Company is pleased to announce it is nominating three new directors to the Board: Mr. Guocai Liu, Mr. James Xiang, and Mr. Paul Jones. Accordingly, the Company will seek to increase the size of the Board of Directors from five members to six, and nominate for election a new slate of directors, including Glenn Laing (President and Chief Executive Officer), Carson Phillips (Vice-President, Corporate Development), John Reynolds (Chairman) as incumbents, and Guacai Liu, James Xiang and Paul Jones as the new nominees.

Mr. Liu, since 2006, has been the Chairman, Chief Executive Officer, President and a director of Migao Corporation, a producer of fertilizers for the high-value agricultural Chinese market. Since 2000, Mr. Liu has also been the General Manager and Chief Executive Officer of Liaoning Yongcheng Economic Trade Development Co., Ltd. He was also a director of IND Dairytech Limited from 2007 to August 2010. Mr. Liu has been engaged in the chemical import and export trade, research and development, and construction of chemical products for more than 16 years. Mr. Liu graduated from the Jianghan Petroleum Institute of China (formerly Changjiang University) in 1987 and also holds a Master's Degree in economics from Liaoning University. From 1987 to 1992, Mr. Liu was an Architectural Engineer, Interpreter at the Ministry of Petroleum Industry of PRC. Mr. Liu was the Vice General Manager of the Liaoning Chemical Industry Import and Export Company from 1993 to 2000. On April 20, 2009, Mr. Liu was appointed principal of a joint venture between Migao and SQM, a large international producer of specialty plant nutrients, iodine and lithium.

Mr. Xiang is the President of China Mineral Resources Limited ("CMRL") and President of CNX Consulting Inc. which provides accounting and financial advisory services to Chinese companies that are seeking listing, financing and M&A opportunities in North America. CMRL holds 31,000,000 common shares of the Company. From December 2008 to April 2010, Mr. Xiang served as the Chief Financial Officer of IND DairyTech Limited. Since August 2010, Mr. Xiang has been a director of Black Birch Capital Acquisition II Corp., a capital pool company. From January 2006 to May 2009, Mr. Xiang served as the Chief Financial Officer of GobiMin Inc. Prior to that, Mr. Xiang worked in corporate finance management in a few TSX listed companies, including COM DEV International Ltd., ATS Automation Tooling Systems Inc. and CFM Corporation. Mr. Xiang holds a Bachelor of Arts from Huazhong University of Science & Technology in China and a Masters of Business Administration from York University. Mr. Xiang is a Certified Management Accountant (Ontario) and a Certified Public Accountant (Delaware).

Mr. Jones has spent a 50 year career in the mining industry, including service in numerous engineering, operations, senior management and consulting positions and has acted as a director in public and private companies active in the Americas, Africa and Asia. Mr. Jones is a Legion of Honour member of the Society of Mining Engineers in which he has been a member since 1958, and is a member and officer of the Mining and Metallurgical Society of America. In February 2004, Mr. Jones received the William Lawrence Saunders Gold Medal from the American Institute of Mining, Metallurgical and Petroleum Engineers in recognition of his service to the public and the minerals industry.

The Meeting will also attend to other housekeeping matters including the approval of the Company's proposed new industry standard 10% rolling share option plan (the "New Plan") and options granted thereunder. Pursuant to the New Plan, the Company has granted, subject to TSX Venture Exchange and shareholder approval, 750,000 options as described in a news release by the Company dated February 28, 2011 and, effective March 24, 2011, another 22,200,000 options (although 27,000,000 options was stated in the Information Circular) having an exercise price of $0.15 per share expiring on March 24, 2021. Other matters to be addressed at the Meeting include appointment of a new auditor for the ensuing year, as well as to make certain administrative changes to the Company's Articles, and approval of an amendment to 1,340,000 existing stock options first disclosed in a press release dated October 14, 2010 to $0.10 per share to more appropriately fit within the context of the recent reverse takeover as disclosed more fully in the Filing Statement dated February 22, 2011. The proposed amendments to the options and the Company's Articles are described more thoroughly in the Information Circular.


Carson Phillips, Director

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward- statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

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.

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