SPOKANE, WASHINGTON -- (Marketwired) -- 05/07/13 -- Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) is pleased to announce it has added the La Valenciana / La Josefina project in Santa Cruz, Argentina to its Exploration Agreement with Eldorado Gold Corporation ("Eldorado"). The La Valenciana project lies to the west of and is contiguous with the Corporation's La Josefina project.
As part of Eldorado's acceptance of the La Valenciana / La Josefina project into the Exploration Agreement, the Corporation will receive a onetime payment of $325,000 and ongoing yearly lease payments of $125,000, as long as the La Valenciana / La Josefina project is considered a Stage II project under the Eldorado Exploration Agreement.
It is anticipated that under the Eldorado Exploration Agreement, the Corporation will initiate drilling at La Valenciana and continue new drill-target development at La Josefina in 2013. Mr. Matt Hughes, the Corporation's CEO, stated, "This represents a significant achievement for the Corporation. By including these projects in the existing Eldorado Exploration Agreement, we will have the opportunity to advance both projects at a much faster rate than would otherwise be likely under the current circumstances and market conditions."
About Hunt Mining
Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. During that time, the Corporation has completed a large amount of exploration activity including approximately 57,000 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 has recently entered into an exploration agreement with Eldorado Gold for exploration and development in the Santa Cruz Province of Argentina. Historical results and additional information can be viewed at www.huntmining.com.
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 anticipated drilling at La Valenciana and new drill-target development at La Josefina in 2013. 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 risks and uncertainties set out in the Corporation's annual and quarterly management discussion and analysis which are available at www.sedar.com.
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 foregoing 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 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.
Hunt Mining Corp.
(403) 517 2270
Hunt Mining Corp.
Chief Financial Officer
Hunt Mining Corp.
Matthew J. Hughes
President and CEO
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