Hunt Gold Corporation -- Company Proves High Grade Gold Reserves
February 24 2009 - 10:57AM
Marketwired
Hunt Gold Corporation (PINKSHEETS: HGLC) announced yesterday and
today, the assay results from the first eight drill holes of its
first recently completed drilling campaign at the Company's
"Mockingbird" Gold Project in Arizona. The assay work was done by
Jacobs Assay of Tucson, Arizona.
COMPANY HIGHLIGHTS:
-- All of the first eight drill holes encountered Gold Mineralization.
-- Eighth Drill Hole encountered High Grade Gold Mineralization.
-- The Assay Results have matched and in fact beaten, the Company
Management's expectations.
-- Company has now proven that it has viable Gold Mining properties which
will be exploited by Management on a "fast track;" yet scientific and
methodical approach.
-- Management determined to make Hunt Gold Corporation one of the most
aggressive and successful Junior Mining Companies in the USA. The Company
already has the Management and top class Executives in place to achieve
this goal.
-- Company has significantly increased its Claim Blocks in strategic
locations surrounding its "Mockingbird" Gold property; sparing no expense
to obtain these vital claims. The Company now has huge amounts of claim
blocks throughout its portfolio of Gold Mining properties.
-- Extensive new Drilling Contract to be announced this week utilizing
new drilling equipment which is far faster and more cost effective than
previous drilling.
-- Company's new Funding arrangements already in place to commence a "Non
Stop Drilling & Exploration Campaign."
-- Company's Geologists preparing detailed reports reflecting the impact
of these first Assay Results coupled with a Gold price of nearly
US$1,000/oz. Management is extremely bullish on the price and the outlook
for Gold in the immediate and for the long term.
-- Company in the process of the launch of its web site with its recently
appointed IR Firm, MDM Worldwide Solutions, Inc.
-- Company's Joint Venture Company has already acquired an amount of
3,028,863,000 shares of Company's "free trading" Common Stock in a series
of "off the market transactions" an average price of US$0.0001 per share;
as a short to medium term investment. This Joint Venture Company to
continue to purchase shares of the Company's stock; in the market; and
after the launch of the Company's web site. These purchases have massively
reduced the number of our shares being offered in the market.
-- Company Management satisfied that the Company's stock price will
shortly trade at far higher levels as our results are analyzed and as
significant Investors commence purchasing the Company's stock.
-- Stock Buyback & Cancellation to proceed after web site launch.
-- Company retains an interest in Silver Mining Sector; through its stock
holding in a Silver Company valued at US$65 million following the disposal
of its "Lookout Silver" interests.
-- Company to pay Stock Dividend in due course following the sale of its
American Molygold Corp. subsidiary Company.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company
focused on the development and exploration of its Gold properties,
namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone
Lookout," "Lady Alde," "Williamson," "Blue Copper Mine,"
"Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry,"
"Buffalo Limecap," "Red Cloud" and "Federal." The Company has
completed the sale of its "American Molygold" interests and will be
distributing the entire sale proceeds through a Stock Dividend to
its stockholders. The Company has disposed of its "Lookout" Silver
Projects and will be retaining an amount of US$65 million in quoted
stock from that disposal.
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a companies' annual report on Form 10-K or 10-KSB and
other filings made by such company with the SEC.
For further information contact: MDM Worldwide Solutions, Inc.
(Investor Relations Enquiries) E Mail : Email Contact Telephone :
(646) 961-4458 Contact : Richard Hausig Hunt Gold Corporation
(Corporate Enquiries) E Mail: Email Contact Telephone: (954)
840-6956 Contact: Mr. Michael G Saner
Hunt Gold (CE) (USOTC:HGLC)
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