Resource Hunter Capital Corp.
TSX VENTURE : RHC

April 06, 2011 09:00 ET

Resource Hunter Capital Corp.: Update on Farim Phosphate Deposit Bankable Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2011) - Resource Hunter Capital Corp. (the "Company") (TSX VENTURE:RHC) is pleased to provide an update on the Farim Phosphate deposit bankable feasibility study that is currently been undertaken by GBM Minerals Engineering Limited of London, England.

Following the completion on February 25, 2011 of the reverse takeover of the Company by Plains Creek Mining Limited and the concurrent financing, work was recommenced on the bankable feasibility study.

In connection with the study, Golder Associates of London, England were awarded a contract to update the existing resource model with a view to developing a definitive mine plan for the phosphate mining operation. Drilling crews have been mobilized to undertake geotechnical drilling and where necessary infill resource drill holes. Preliminary metallurgical samples have been taken from existing cores for bench scale testing. Additional large diameter drilling has commenced on site to collect a representative sample of approximately five metric tons of phosphate ore for metallurgical pilot tests and the production of product samples for potential off take partners. Engineering work has also recommenced on the slurry pipeline, beneficiation plant design, infrastructure and roads. 

The timetable has been revised for the completion of the bankable feasibility study. The study is now expected to be completed in the 4th Quarter of 2011.

ON BEHALF OF THE BOARD

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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